AppLovin (NASDAQ:APP) Price Target Raised to $400.00 at Jefferies Financial Group

AppLovin (NASDAQ:APP) had its price objective upped by Jefferies Financial Group from $270.00 to $400.00 in a research report released on Tuesday,Benzinga reports. They currently have a buy rating on the stock.

A number of other analysts have also recently issued reports on the company. Needham & Company LLC restated a “hold” rating on shares of AppLovin in a research report on Thursday, November 7th. Citigroup increased their price objective on shares of AppLovin from $185.00 to $335.00 and gave the company a “buy” rating in a research note on Monday, November 18th. BTIG Research raised their price objective on shares of AppLovin from $202.00 to $291.00 and gave the stock a “buy” rating in a report on Thursday, November 7th. Piper Sandler assumed coverage on shares of AppLovin in a research note on Wednesday, November 20th. They issued an “overweight” rating and a $400.00 target price on the stock. Finally, Daiwa America raised shares of AppLovin from a “hold” rating to a “strong-buy” rating in a research report on Friday, November 8th. One analyst has rated the stock with a sell rating, four have assigned a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $265.57.

AppLovin Stock Performance

APP opened at $329.77 on Tuesday. The company has a quick ratio of 2.41, a current ratio of 2.41 and a debt-to-equity ratio of 3.70. The stock’s 50 day moving average price is $185.37 and its two-hundred day moving average price is $119.37. The firm has a market capitalization of $110.67 billion, a P/E ratio of 99.93, a price-to-earnings-growth ratio of 4.11 and a beta of 1.86. AppLovin has a 12-month low of $35.79 and a 12-month high of $344.77.

AppLovin (NASDAQ:APP) last announced its quarterly earnings data on Wednesday, November 6th. The company reported $1.25 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.92 by $0.33. The business had revenue of $1.20 billion for the quarter, compared to the consensus estimate of $1.13 billion. AppLovin had a net margin of 26.85% and a return on equity of 122.24%. AppLovin’s quarterly revenue was up 38.6% on a year-over-year basis. During the same quarter last year, the company posted $0.30 earnings per share. On average, equities analysts forecast that AppLovin will post 4.05 earnings per share for the current year.

Insider Buying and Selling at AppLovin

In other AppLovin news, CTO Vasily Shikin sold 593,588 shares of the stock in a transaction dated Thursday, November 21st. The stock was sold at an average price of $319.37, for a total value of $189,574,199.56. Following the transaction, the chief technology officer now owns 3,919,024 shares of the company’s stock, valued at approximately $1,251,618,694.88. This represents a 13.15 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO Matthew Stumpf sold 21,101 shares of the business’s stock in a transaction dated Friday, November 22nd. The stock was sold at an average price of $332.67, for a total value of $7,019,669.67. Following the transaction, the chief financial officer now owns 213,336 shares of the company’s stock, valued at $70,970,487.12. The trade was a 9.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 854,065 shares of company stock valued at $233,072,408. 14.69% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Second Half Financial Partners LLC acquired a new stake in AppLovin in the third quarter worth $224,000. Eagle Asset Management Inc. raised its stake in AppLovin by 2,200.4% during the 3rd quarter. Eagle Asset Management Inc. now owns 523,149 shares of the company’s stock worth $68,297,000 after buying an additional 500,407 shares during the period. WCM Investment Management LLC lifted its holdings in AppLovin by 10.5% during the third quarter. WCM Investment Management LLC now owns 10,820,409 shares of the company’s stock worth $1,382,307,000 after acquiring an additional 1,029,009 shares in the last quarter. Oppenheimer Asset Management Inc. grew its stake in AppLovin by 10.0% in the third quarter. Oppenheimer Asset Management Inc. now owns 26,351 shares of the company’s stock valued at $3,440,000 after acquiring an additional 2,385 shares during the period. Finally, Smithbridge Asset Management Inc. DE bought a new stake in shares of AppLovin in the third quarter worth about $7,086,000. 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.