AppLovin (NASDAQ:APP) Given New $630.00 Price Target at UBS Group

AppLovin (NASDAQ:APP) had its price objective lifted by analysts at UBS Group from $440.00 to $630.00 in a report released on Thursday,Benzinga reports. The firm currently has a “buy” rating on the stock. UBS Group’s price target would indicate a potential upside of 24.71% from the company’s current price.

APP has been the subject of a number of other research reports. Citigroup upped their target price on shares of AppLovin from $335.00 to $460.00 and gave the stock a “buy” rating in a report on Thursday, December 5th. Piper Sandler began coverage on shares of AppLovin in a research note on Wednesday, November 20th. They set an “overweight” rating and a $400.00 price objective for the company. Daiwa America raised shares of AppLovin from a “hold” rating to a “strong-buy” rating in a research note on Friday, November 8th. Loop Capital upped their price target on AppLovin from $385.00 to $450.00 and gave the company a “buy” rating in a research report on Monday, December 16th. Finally, Wedbush reiterated an “outperform” rating and set a $270.00 price objective (up previously from $170.00) on shares of AppLovin in a research report on Thursday, November 7th. Four analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $389.53.

AppLovin Trading Up 32.8 %

Shares of NASDAQ:APP opened at $505.19 on Thursday. The company has a current ratio of 2.41, a quick ratio of 2.41 and a debt-to-equity ratio of 3.70. AppLovin has a 12-month low of $45.59 and a 12-month high of $497.43. The business has a 50 day moving average of $347.30 and a two-hundred day moving average of $224.62. The company has a market capitalization of $169.54 billion, a PE ratio of 153.20, a PEG ratio of 3.10 and a beta of 2.30.

AppLovin (NASDAQ:APP) last issued its quarterly earnings data on Wednesday, February 12th. The company reported $1.73 EPS for the quarter, beating the consensus estimate of $1.12 by $0.61. AppLovin had a return on equity of 122.24% and a net margin of 26.85%. As a group, analysts forecast that AppLovin will post 4.09 EPS for the current year.

Insider Buying and Selling at AppLovin

In other news, insider Victoria Valenzuela sold 15,971 shares of the business’s stock in a transaction dated Thursday, December 19th. The shares were sold at an average price of $313.07, for a total transaction of $5,000,040.97. Following the transaction, the insider now directly owns 372,205 shares in the company, valued at $116,526,219.35. The trade was a 4.11 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CTO Vasily Shikin sold 593,588 shares of the firm’s stock in a transaction dated Thursday, November 21st. The shares were sold at an average price of $319.37, for a total transaction of $189,574,199.56. Following the completion of the sale, the chief technology officer now owns 3,919,024 shares of the company’s stock, valued at approximately $1,251,618,694.88. The trade was a 13.15 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 828,991 shares of company stock valued at $267,640,144 in the last ninety days. Insiders own 14.69% of the company’s stock.

Hedge Funds Weigh In On AppLovin

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Capital Performance Advisors LLP purchased a new stake in AppLovin during the third quarter worth about $25,000. GHP Investment Advisors Inc. acquired a new position in AppLovin during the fourth quarter worth $25,000. DT Investment Partners LLC purchased a new stake in AppLovin during the third quarter worth $27,000. Meeder Asset Management Inc. acquired a new stake in AppLovin in the third quarter valued at $27,000. Finally, Riverview Trust Co increased its position in shares of AppLovin by 1,640.0% in the fourth quarter. Riverview Trust Co now owns 87 shares of the company’s stock valued at $28,000 after buying an additional 82 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.