AppLovin Corporation (NASDAQ:APP) Receives $664.35 Consensus PT from Brokerages

Shares of AppLovin Corporation (NASDAQ:APP) have received an average rating of “Moderate Buy” from the twenty-three brokerages that are covering the stock, MarketBeat.com reports. Five research analysts have rated the stock with a hold recommendation, seventeen have issued a buy recommendation and one has given a strong buy recommendation to the company. The average 1-year target price among analysts that have issued ratings on the stock in the last year is $664.35.

A number of research analysts have recently commented on the company. Wedbush restated an “outperform” rating and issued a $640.00 target price on shares of AppLovin in a research note on Thursday, May 7th. Argus assumed coverage on AppLovin in a research note on Tuesday, April 14th. They issued a “buy” rating and a $520.00 target price for the company. Benchmark restated a “buy” rating on shares of AppLovin in a research note on Friday, March 6th. Jefferies Financial Group lowered their target price on AppLovin from $860.00 to $700.00 and set a “buy” rating for the company in a research note on Thursday, February 12th. Finally, The Goldman Sachs Group lowered their price objective on AppLovin from $710.00 to $585.00 and set a “neutral” rating for the company in a research note on Thursday, February 12th.

AppLovin Stock Performance

AppLovin stock opened at $478.42 on Friday. The stock has a market cap of $161.36 billion, a price-to-earnings ratio of 41.10, a PEG ratio of 0.77 and a beta of 2.37. The company has a debt-to-equity ratio of 1.49, a quick ratio of 3.24 and a current ratio of 3.24. The stock’s 50 day simple moving average is $444.44 and its two-hundred day simple moving average is $531.76. AppLovin has a fifty-two week low of $320.00 and a fifty-two week high of $745.61.

AppLovin (NASDAQ:APP) last released its earnings results on Wednesday, May 6th. The company reported $3.56 EPS for the quarter, beating analysts’ consensus estimates of $3.44 by $0.12. The company had revenue of $1.84 billion during the quarter, compared to analysts’ expectations of $1.77 billion. AppLovin had a return on equity of 219.37% and a net margin of 64.29%.The firm’s revenue for the quarter was up 58.9% compared to the same quarter last year. During the same quarter last year, the business posted $1.67 EPS. As a group, analysts expect that AppLovin will post 15.77 earnings per share for the current fiscal year.

Insider Buying and Selling at AppLovin

In other AppLovin news, CEO Arash Adam Foroughi sold 50,000 shares of AppLovin stock in a transaction on Wednesday, March 11th. The stock was sold at an average price of $466.04, for a total transaction of $23,302,000.00. Following the completion of the transaction, the chief executive officer owned 2,480,414 shares in the company, valued at approximately $1,155,972,140.56. The trade was a 1.98% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Eduardo Vivas sold 163,910 shares of AppLovin stock in a transaction on Monday, March 16th. The shares were sold at an average price of $453.49, for a total value of $74,331,545.90. Following the transaction, the director owned 6,969,382 shares of the company’s stock, valued at $3,160,545,043.18. The trade was a 2.30% decrease in their position. The SEC filing for this sale provides additional information. Over the last 90 days, insiders sold 365,244 shares of company stock worth $169,584,607. 13.66% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the stock. CBIZ Investment Advisory Services LLC increased its holdings in shares of AppLovin by 58.6% in the 3rd quarter. CBIZ Investment Advisory Services LLC now owns 46 shares of the company’s stock worth $33,000 after purchasing an additional 17 shares in the last quarter. Redhawk Wealth Advisors Inc. increased its holdings in shares of AppLovin by 2.9% in the 4th quarter. Redhawk Wealth Advisors Inc. now owns 640 shares of the company’s stock worth $431,000 after purchasing an additional 18 shares in the last quarter. Verdence Capital Advisors LLC increased its holdings in shares of AppLovin by 5.7% in the 4th quarter. Verdence Capital Advisors LLC now owns 333 shares of the company’s stock worth $224,000 after purchasing an additional 18 shares in the last quarter. Versant Capital Management Inc increased its holdings in shares of AppLovin by 2.8% in the 3rd quarter. Versant Capital Management Inc now owns 701 shares of the company’s stock worth $504,000 after purchasing an additional 19 shares in the last quarter. Finally, Claro Advisors LLC increased its holdings in shares of AppLovin by 3.2% in the 3rd quarter. Claro Advisors LLC now owns 647 shares of the company’s stock worth $465,000 after purchasing an additional 20 shares in the last quarter. Hedge funds and other institutional investors own 41.85% of the company’s stock.

AppLovin Company Profile

AppLovin Corporation is a Palo Alto–based mobile technology company that provides software and services to help app developers grow and monetize their businesses. The company operates a data-driven advertising and marketing platform that connects app publishers and advertisers, delivering tools for user acquisition, monetization, analytics and creative optimization. AppLovin’s technology is integrated into a broad set of mobile applications through software development kits (SDKs) and ad products designed to maximize revenue and engagement for developers.

Key components of AppLovin’s offering include an ad mediation and exchange platform that enables publishers to manage and monetize inventory across multiple demand sources, and a user-acquisition platform that helps advertisers target and scale campaigns.