AppLovin (NASDAQ:APP) Price Target Raised to $325.00 at JPMorgan Chase & Co.

AppLovin (NASDAQ:APP) had its target price lifted by JPMorgan Chase & Co. from $200.00 to $325.00 in a report released on Friday,Benzinga reports. JPMorgan Chase & Co. currently has a neutral rating on the stock.

A number of other analysts also recently commented on APP. The Goldman Sachs Group downgraded shares of AppLovin from a “buy” rating to a “neutral” rating and boosted their price target for the stock from $103.00 to $150.00 in a research report on Monday, October 14th. Bank of America upped their target price on AppLovin from $252.00 to $375.00 and gave the stock a “buy” rating in a research report on Monday, November 25th. UBS Group upgraded AppLovin from a “neutral” rating to a “buy” rating and lifted their price target for the company from $100.00 to $145.00 in a research report on Tuesday, September 17th. Wedbush reaffirmed an “outperform” rating and set a $270.00 target price (up previously from $170.00) on shares of AppLovin in a research note on Thursday, November 7th. Finally, Wells Fargo & Company boosted their price target on shares of AppLovin from $250.00 to $360.00 and gave the stock an “overweight” rating in a research report on Wednesday, November 20th. Four investment analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, AppLovin currently has an average rating of “Moderate Buy” and a consensus price target of $337.71.

AppLovin Price Performance

Shares of NASDAQ:APP opened at $318.48 on Friday. The company has a current ratio of 2.41, a quick ratio of 2.41 and a debt-to-equity ratio of 3.70. The firm’s 50 day moving average is $318.41 and its two-hundred day moving average is $179.76. The firm has a market capitalization of $106.88 billion, a P/E ratio of 96.51, a PEG ratio of 4.17 and a beta of 2.29. AppLovin has a 52 week low of $39.43 and a 52 week high of $417.64.

AppLovin (NASDAQ:APP) last announced its earnings results on Wednesday, November 6th. The company reported $1.25 earnings per share for the quarter, beating the consensus estimate of $0.92 by $0.33. The firm had revenue of $1.20 billion for the quarter, compared to the consensus estimate of $1.13 billion. AppLovin had a return on equity of 122.24% and a net margin of 26.85%. The firm’s revenue for the quarter was up 38.6% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.30 EPS. Analysts anticipate that AppLovin will post 4.06 earnings per share for the current year.

Insiders Place Their Bets

In related news, CFO Herald Y. Chen sold 400 shares of AppLovin stock in a transaction on Monday, December 9th. The stock was sold at an average price of $366.16, for a total transaction of $146,464.00. Following the completion of the sale, the chief financial officer now owns 207,649 shares of the company’s stock, valued at approximately $76,032,757.84. This trade represents a 0.19 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Dawson Alyssa Harvey sold 500 shares of the company’s stock in a transaction dated Friday, December 6th. The stock was sold at an average price of $406.27, for a total value of $203,135.00. Following the completion of the transaction, the director now directly owns 6,684 shares in the company, valued at approximately $2,715,508.68. The trade was a 6.96 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 888,867 shares of company stock worth $284,773,062. 14.69% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the business. Townsquare Capital LLC boosted its holdings in AppLovin by 64.9% in the third quarter. Townsquare Capital LLC now owns 7,942 shares of the company’s stock worth $1,037,000 after purchasing an additional 3,126 shares in the last quarter. Second Half Financial Partners LLC acquired a new stake in shares of AppLovin in the third quarter worth about $224,000. State Street Corp boosted its stake in shares of AppLovin by 8.6% during the 3rd quarter. State Street Corp now owns 5,388,023 shares of the company’s stock worth $703,406,000 after acquiring an additional 428,419 shares in the last quarter. Eagle Asset Management Inc. increased its holdings in shares of AppLovin by 2,200.4% during the 3rd quarter. Eagle Asset Management Inc. now owns 523,149 shares of the company’s stock valued at $68,297,000 after acquiring an additional 500,407 shares during the last quarter. Finally, Zacks Investment Management raised its stake in shares of AppLovin by 328.1% in the 3rd quarter. Zacks Investment Management now owns 106,121 shares of the company’s stock valued at $13,854,000 after acquiring an additional 81,331 shares in the last quarter. Institutional investors and hedge funds 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.