AppLovin (NASDAQ:APP) Given New $440.00 Price Target at UBS Group

AppLovin (NASDAQ:APP) had its price objective boosted by equities research analysts at UBS Group from $315.00 to $440.00 in a report released on Wednesday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. UBS Group’s target price would suggest a potential upside of 23.39% from the stock’s current price.

Several other brokerages also recently issued reports on APP. Piper Sandler began coverage on shares of AppLovin in a report on Wednesday, November 20th. They set an “overweight” rating and a $400.00 price target for the company. Wedbush restated an “outperform” rating and issued a $270.00 price objective (up from $170.00) on shares of AppLovin in a report on Thursday, November 7th. Oppenheimer reaffirmed an “outperform” rating and set a $480.00 price target on shares of AppLovin in a research report on Tuesday, December 10th. Daiwa America raised shares of AppLovin from a “hold” rating to a “strong-buy” rating in a research report on Friday, November 8th. Finally, JPMorgan Chase & Co. increased their price objective on shares of AppLovin from $200.00 to $325.00 and gave the stock a “neutral” rating in a research report on Friday, January 10th. Four analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $355.41.

AppLovin Stock Performance

Shares of NASDAQ:APP traded up $18.21 during trading on Wednesday, reaching $356.60. 379,737 shares of the stock were exchanged, compared to its average volume of 3,904,127. AppLovin has a 12 month low of $40.71 and a 12 month high of $417.64. The firm has a market cap of $119.67 billion, a PE ratio of 107.11, a PEG ratio of 2.80 and a beta of 2.29. The stock has a 50-day moving average price of $332.85 and a 200-day moving average price of $193.35. 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 (NASDAQ:APP) last issued its quarterly earnings results on Wednesday, November 6th. The company reported $1.25 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.92 by $0.33. The business had revenue of $1.20 billion during the quarter, compared to analysts’ expectations 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% compared to the same quarter last year. During the same period in the previous year, the company posted $0.30 earnings per share. Research analysts expect that AppLovin will post 4.06 EPS for the current fiscal year.

Insider Buying and Selling at AppLovin

In other news, CMO Katie Kihorany Jansen sold 59,876 shares of the business’s stock in a transaction on Tuesday, November 12th. The shares were sold at an average price of $286.14, for a total transaction of $17,132,918.64. Following the completion of the transaction, the chief marketing officer now directly owns 1,017,388 shares in the company, valued at $291,115,402.32. The trade was a 5.56 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CTO Vasily Shikin sold 593,588 shares of the business’s stock in a transaction on 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 transaction, the chief technology officer now owns 3,919,024 shares of the company’s stock, valued at $1,251,618,694.88. This trade represents a 13.15 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 888,867 shares of company stock worth $284,773,062. Insiders own 14.69% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Capital Performance Advisors LLP purchased a new position in AppLovin in the third quarter worth $25,000. DT Investment Partners LLC bought a new position in shares of AppLovin during the third quarter valued at about $27,000. Meeder Asset Management Inc. bought a new position in shares of AppLovin during the third quarter valued at about $27,000. Raleigh Capital Management Inc. bought a new position in AppLovin in the third quarter worth about $29,000. Finally, Fifth Third Bancorp raised its stake in AppLovin by 172.2% in the fourth quarter. Fifth Third Bancorp now owns 98 shares of the company’s stock worth $32,000 after buying an additional 62 shares in the last quarter. 41.85% of the stock is currently owned by hedge funds and other institutional investors.

About AppLovin

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.