AppLovin (NASDAQ:APP) PT Raised to $180.00 at Oppenheimer

AppLovin (NASDAQ:APP) had its target price lifted by Oppenheimer from $105.00 to $180.00 in a report released on Wednesday morning, Benzinga reports. Oppenheimer currently has an outperform rating on the stock.

Other equities analysts have also recently issued reports about the stock. Macquarie reissued an “outperform” rating and issued a $150.00 price objective (up from $115.00) on shares of AppLovin in a research note on Wednesday, September 25th. Bank of America lifted their price target on shares of AppLovin from $100.00 to $120.00 and gave the stock a “buy” rating in a research note on Wednesday, September 11th. Citigroup lifted their price target on shares of AppLovin from $155.00 to $185.00 and gave the stock a “buy” rating in a research note on Tuesday. Wedbush dropped their price target on shares of AppLovin from $100.00 to $90.00 and set an “outperform” rating for the company in a research note on Thursday, August 8th. Finally, UBS Group raised shares of AppLovin from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $100.00 to $145.00 in a research note on Tuesday, September 17th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $129.58.

AppLovin Stock Performance

APP opened at $159.40 on Wednesday. The stock has a market capitalization of $52.44 billion, a price-to-earnings ratio of 94.88, a PEG ratio of 2.07 and a beta of 1.92. The company has a fifty day moving average of $115.25 and a 200 day moving average of $91.60. AppLovin has a fifty-two week low of $34.45 and a fifty-two week high of $165.38. The company has a debt-to-equity ratio of 4.27, a quick ratio of 2.28 and a current ratio of 2.28.

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

Insiders Place Their Bets

In other AppLovin news, Director Dawson Alyssa Harvey sold 1,500 shares of the business’s stock in a transaction that occurred on Tuesday, September 10th. The shares were sold at an average price of $87.90, for a total transaction of $131,850.00. Following the sale, the director now owns 10,247 shares of the company’s stock, valued at approximately $900,711.30. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other AppLovin news, Director Dawson Alyssa Harvey sold 1,500 shares of the company’s stock in a transaction on Tuesday, September 10th. The shares were sold at an average price of $87.90, for a total transaction of $131,850.00. Following the completion of the transaction, the director now directly owns 10,247 shares in the company, valued at approximately $900,711.30. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CFO Matthew Stumpf sold 60,615 shares of the company’s stock in a transaction on Tuesday, August 13th. The stock was sold at an average price of $79.63, for a total transaction of $4,826,772.45. Following the transaction, the chief financial officer now owns 254,458 shares of the company’s stock, valued at $20,262,490.54. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 610,094 shares of company stock valued at $51,022,478. Insiders own 14.69% of the company’s stock.

Institutional Investors Weigh In On AppLovin

Hedge funds have recently modified their holdings of the business. DT Investment Partners LLC acquired a new stake in shares of AppLovin in the third quarter valued at about $27,000. Raleigh Capital Management Inc. purchased a new stake in shares of AppLovin in the third quarter valued at about $29,000. Quest Partners LLC purchased a new stake in shares of AppLovin in the second quarter valued at about $33,000. Oliver Lagore Vanvalin Investment Group purchased a new stake in shares of AppLovin in the second quarter valued at about $34,000. Finally, Covestor Ltd grew its holdings in shares of AppLovin by 85.8% in the first quarter. Covestor Ltd now owns 511 shares of the company’s stock valued at $35,000 after purchasing an additional 236 shares during the period. 41.85% of the stock is currently owned by institutional investors and hedge funds.

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.