JPMorgan Chase & Co. Boosts AppLovin (NASDAQ:APP) Price Target to $160.00

AppLovin (NASDAQ:APP) had its price objective increased by JPMorgan Chase & Co. from $57.00 to $160.00 in a research report sent to investors on Tuesday morning, Benzinga reports. JPMorgan Chase & Co. currently has a neutral rating on the stock.

A number of other research analysts have also issued reports on the stock. Loop Capital started coverage on shares of AppLovin in a research note on Tuesday. They set a “buy” rating and a $181.00 target price for the company. UBS Group upgraded AppLovin from a “neutral” rating to a “buy” rating and boosted their price target for the company from $100.00 to $145.00 in a research note on Tuesday, September 17th. Oppenheimer reaffirmed an “outperform” rating and set a $105.00 price objective (up from $97.00) on shares of AppLovin in a report on Thursday, August 8th. Citigroup lifted their price objective on AppLovin from $110.00 to $155.00 and gave the company a “buy” rating in a report on Thursday, September 19th. Finally, Jefferies Financial Group lifted their price objective on AppLovin from $105.00 to $108.00 and gave the company a “buy” rating in a report on Tuesday, September 10th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and eleven have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $129.58.

AppLovin Stock Performance

AppLovin stock opened at $159.00 on Tuesday. AppLovin has a 12-month low of $34.45 and a 12-month high of $165.38. The company has a market capitalization of $52.31 billion, a price-to-earnings ratio of 94.88, a price-to-earnings-growth ratio of 2.07 and a beta of 1.92. The company has a debt-to-equity ratio of 4.27, a current ratio of 2.28 and a quick ratio of 2.28. The firm’s fifty day moving average price is $116.75 and its 200 day moving average price is $92.07.

AppLovin (NASDAQ:APP) last announced its quarterly earnings data on Wednesday, August 7th. The company reported $0.89 earnings per share for the quarter, topping the consensus estimate 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 last year, the business earned $0.22 EPS. The firm’s revenue for the quarter was up 44.0% compared to the same quarter last year. On average, research analysts forecast that AppLovin will post 3.46 EPS for the current fiscal year.

Insider Transactions at AppLovin

In related news, CMO Katie Kihorany Jansen sold 72,307 shares of the business’s stock in a transaction that occurred on Monday, August 12th. The shares were sold at an average price of $75.68, for a total value of $5,472,193.76. Following the completion of the transaction, the chief marketing officer now owns 1,164,396 shares in the company, valued at $88,121,489.28. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other AppLovin news, CMO Katie Kihorany Jansen sold 72,307 shares of the company’s stock in a transaction on Monday, August 12th. The shares were sold at an average price of $75.68, for a total transaction of $5,472,193.76. Following the completion of the sale, the chief marketing officer now owns 1,164,396 shares in the company, valued at approximately $88,121,489.28. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CFO Matthew Stumpf sold 60,615 shares of the company’s stock in a transaction on Tuesday, August 13th. The shares were sold at an average price of $79.63, for a total transaction of $4,826,772.45. Following the sale, the chief financial officer now owns 254,458 shares of the company’s stock, valued at $20,262,490.54. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 610,094 shares of company stock valued at $51,022,478 in the last three months. 14.69% of the stock is owned by corporate insiders.

Institutional Trading of AppLovin

Large investors have recently made changes to their positions in the company. Mitsubishi UFJ Trust & Banking Corp increased its position in shares of AppLovin by 9,470.1% in the 1st quarter. Mitsubishi UFJ Trust & Banking Corp now owns 250,641 shares of the company’s stock valued at $17,336,000 after buying an additional 248,022 shares in the last quarter. Acadian Asset Management LLC boosted its stake in AppLovin by 2,081.4% in the 1st quarter. Acadian Asset Management LLC now owns 16,339 shares of the company’s stock worth $1,127,000 after purchasing an additional 15,590 shares during the period. Janney Montgomery Scott LLC boosted its stake in AppLovin by 167.0% in the 1st quarter. Janney Montgomery Scott LLC now owns 16,146 shares of the company’s stock worth $1,118,000 after purchasing an additional 10,099 shares during the period. Clearbridge Investments LLC boosted its stake in AppLovin by 73.0% in the 2nd quarter. Clearbridge Investments LLC now owns 893,344 shares of the company’s stock worth $74,344,000 after purchasing an additional 376,835 shares during the period. Finally, Sei Investments Co. boosted its stake in AppLovin by 77.0% in the 2nd quarter. Sei Investments Co. now owns 515,665 shares of the company’s stock worth $42,914,000 after purchasing an additional 224,306 shares during the period. Institutional investors own 41.85% of the company’s stock.

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.