AppLovin (NASDAQ:APP) Price Target Raised to $185.00

AppLovin (NASDAQ:APP) had its target price hoisted by Citigroup from $155.00 to $185.00 in a research report released on Tuesday morning, Benzinga reports. They currently have a buy rating on the stock.

Several other analysts have also recently weighed in on the company. Benchmark lifted their price objective on AppLovin from $48.00 to $66.00 and gave the company a “sell” rating in a research report on Friday, August 23rd. The Goldman Sachs Group cut AppLovin from a “buy” rating to a “neutral” rating and lifted their price objective for the company from $103.00 to $150.00 in a research report on Monday, October 14th. Wedbush cut their price objective on AppLovin from $100.00 to $90.00 and set an “outperform” rating on the stock in a research report on Thursday, August 8th. Jefferies Financial Group boosted their price target on AppLovin from $105.00 to $108.00 and gave the stock a “buy” rating in a research report on Tuesday, September 10th. Finally, UBS Group raised AppLovin from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $100.00 to $145.00 in a research report on Tuesday, September 17th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat, AppLovin currently has a consensus rating of “Moderate Buy” and an average target price of $129.58.

AppLovin Stock Down 0.3 %

APP opened at $159.00 on Tuesday. The company has a current ratio of 2.28, a quick ratio of 2.28 and a debt-to-equity ratio of 4.27. The company has a market cap of $52.31 billion, a P/E ratio of 94.88, a P/E/G ratio of 2.07 and a beta of 1.92. AppLovin has a 12 month low of $34.45 and a 12 month high of $165.38. The business’s 50-day moving average price is $116.75 and its 200-day moving average price is $92.07.

AppLovin (NASDAQ:APP) last posted its earnings results on Wednesday, August 7th. The company reported $0.89 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.77 by $0.12. The company had revenue of $1.08 billion for the quarter, compared to analysts’ expectations of $1.08 billion. AppLovin had a return on equity of 84.16% and a net margin of 20.89%. AppLovin’s quarterly revenue was up 44.0% on a year-over-year basis. During the same period last year, the firm earned $0.22 earnings per share. On average, equities analysts expect that AppLovin will post 3.46 EPS for the current year.

Insider Buying and Selling at AppLovin

In other AppLovin news, CMO Katie Kihorany Jansen sold 72,307 shares of the business’s stock in a transaction on Monday, August 12th. The shares were sold at an average price of $75.68, for a total transaction of $5,472,193.76. Following the completion of the sale, the chief marketing officer now directly owns 1,164,396 shares in the company, valued at approximately $88,121,489.28. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, CMO Katie Kihorany Jansen sold 72,307 shares of the company’s stock in a transaction on Monday, August 12th. The stock was sold at an average price of $75.68, for a total value of $5,472,193.76. Following the completion of the sale, the chief marketing officer now directly owns 1,164,396 shares in the company, valued at $88,121,489.28. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, insider Victoria Valenzuela sold 14,166 shares of the company’s stock in a transaction on Thursday, August 22nd. The stock was sold at an average price of $89.98, for a total value of $1,274,656.68. Following the completion of the sale, the insider now owns 352,616 shares of the company’s stock, valued at $31,728,387.68. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 610,094 shares of company stock worth $51,022,478. Insiders own 14.69% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. DT Investment Partners LLC purchased a new stake in shares of AppLovin during the 3rd quarter valued at about $27,000. Raleigh Capital Management Inc. purchased a new stake in shares of AppLovin during the 3rd quarter valued at about $29,000. Quest Partners LLC purchased a new stake in shares of AppLovin during the 2nd quarter valued at about $33,000. Oliver Lagore Vanvalin Investment Group purchased a new stake in shares of AppLovin during the 2nd quarter valued at about $34,000. Finally, Covestor Ltd raised its position in AppLovin by 85.8% in the 1st quarter. Covestor Ltd now owns 511 shares of the company’s stock worth $35,000 after purchasing an additional 236 shares during the period. Institutional investors own 41.85% of the company’s stock.

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.