AppLovin (NASDAQ:APP) Shares Up 3.5% After Analyst Upgrade

AppLovin Co. (NASDAQ:APP)’s stock price was up 3.5% on Wednesday after Stifel Nicolaus raised their price target on the stock from $100.00 to $185.00. Stifel Nicolaus currently has a buy rating on the stock. AppLovin traded as high as $165.38 and last traded at $164.49. Approximately 1,234,189 shares changed hands during trading, a decline of 70% from the average daily volume of 4,168,617 shares. The stock had previously closed at $158.95.

Several other equities research analysts have also recently issued reports on APP. Macquarie reiterated an “outperform” rating and set a $150.00 price objective (up previously from $115.00) on shares of AppLovin in a research report on Wednesday, September 25th. Oppenheimer lifted their price objective on shares of AppLovin from $105.00 to $180.00 and gave the company an “outperform” rating in a research report on Wednesday. Bank of America lifted their price objective on shares of AppLovin from $100.00 to $120.00 and gave the company a “buy” rating in a research report on Wednesday, September 11th. UBS Group upgraded shares of AppLovin from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $100.00 to $145.00 in a research report on Tuesday, September 17th. Finally, Citigroup lifted their price objective on shares of AppLovin from $155.00 to $185.00 and gave the company a “buy” rating in a research report on Tuesday. One research analyst has rated the stock with a sell rating, five have given a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $129.58.

Insider Buying and Selling at AppLovin

In other AppLovin news, insider Victoria Valenzuela sold 14,166 shares of the business’s stock in a transaction on Thursday, August 22nd. The shares were sold at an average price of $89.98, for a total transaction of $1,274,656.68. Following the transaction, the insider now owns 352,616 shares in the company, valued at $31,728,387.68. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In other news, insider Victoria Valenzuela sold 14,166 shares of the business’s stock in a transaction on Thursday, August 22nd. The shares were sold at an average price of $89.98, for a total transaction of $1,274,656.68. Following the completion of the sale, the insider now directly owns 352,616 shares of the company’s stock, valued at approximately $31,728,387.68. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Eduardo Vivas sold 229,200 shares of the business’s stock in a transaction on Friday, August 16th. The shares were sold at an average price of $86.35, for a total transaction of $19,791,420.00. Following the sale, the director now directly owns 7,412,475 shares of the company’s stock, valued at $640,067,216.25. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 610,094 shares of company stock worth $51,022,478 over the last quarter. Insiders own 14.69% of the company’s stock.

Institutional Trading of AppLovin

Large investors have recently made changes to their positions in the stock. DT Investment Partners LLC purchased a new stake in shares of AppLovin during the third quarter valued at $27,000. Raleigh Capital Management Inc. purchased a new stake in AppLovin in the third quarter worth about $29,000. Quest Partners LLC purchased a new stake in AppLovin in the second quarter worth about $33,000. Oliver Lagore Vanvalin Investment Group purchased a new stake in AppLovin in the second quarter worth about $34,000. Finally, Covestor Ltd lifted its stake in AppLovin by 85.8% in the first quarter. Covestor Ltd now owns 511 shares of the company’s stock worth $35,000 after acquiring an additional 236 shares during the period. 41.85% of the stock is owned by hedge funds and other institutional investors.

AppLovin Trading Down 0.3 %

The stock’s 50 day moving average is $116.75 and its two-hundred day moving average is $92.07. The company has a market capitalization of $52.31 billion, a PE ratio of 94.88, a price-to-earnings-growth ratio of 2.07 and a beta of 1.92. The company has a quick ratio of 2.28, a current ratio of 2.28 and a debt-to-equity ratio of 4.27.

AppLovin (NASDAQ:APP) last released its quarterly earnings data on Wednesday, August 7th. The company reported $0.89 earnings per share for the quarter, topping analysts’ consensus estimates of $0.77 by $0.12. AppLovin had a net margin of 20.89% and a return on equity of 84.16%. The company had revenue of $1.08 billion during the quarter, compared to analyst estimates of $1.08 billion. During the same period in the prior year, the firm earned $0.22 earnings per share. The firm’s revenue for the quarter was up 44.0% compared to the same quarter last year. As a group, sell-side analysts predict that AppLovin Co. will post 3.46 EPS for the current fiscal year.

AppLovin Company Profile

AppLovin Corporation engages in building a software-based platform for advertisers to enhance the marketing and monetization of their content in the United States and internationally. It operates through two segments, Software Platform and Apps. The company's software solutions include AppDiscovery, a marketing software solution, which matches advertiser demand with publisher supply through auctions; MAX, an in-app bidding software that optimizes the value of a publisher's advertising inventory by running a real-time competitive auction; Adjust, a measurement and analytics marketing platform that provides marketers with the visibility, insights, and tools needed to grow their apps from early stage to maturity; and Wurl, a connected TV platform, which distributes streaming video for content companies and provides advertising and publishing solutions through its AdPool, ContentDiscovery, and Global FAST Pass products.