AppLovin (NASDAQ:APP) Receives New Coverage from Analysts at Loop Capital

Analysts at Loop Capital initiated coverage on shares of AppLovin (NASDAQ:APP) in a research report issued on Tuesday, MarketBeat reports. The brokerage set a “buy” rating and a $181.00 price target on the stock. Loop Capital’s target price indicates a potential upside of 13.55% from the stock’s current price.

Other equities analysts have also recently issued reports about the stock. Benchmark lifted their price objective on shares of AppLovin from $48.00 to $66.00 and gave the stock a “sell” rating in a research report on Friday, August 23rd. BTIG Research upped their price target on AppLovin from $114.00 to $150.00 and gave the company a “buy” rating in a research report on Friday, September 13th. Oppenheimer reissued an “outperform” rating and issued a $105.00 price objective (up from $97.00) on shares of AppLovin in a research note on Thursday, August 8th. Macquarie reaffirmed an “outperform” rating and set a $150.00 target price (up previously from $115.00) on shares of AppLovin in a research note on Wednesday, September 25th. Finally, The Goldman Sachs Group lowered shares of AppLovin from a “buy” rating to a “neutral” rating and increased their price target for the stock from $103.00 to $150.00 in a research report on Monday, October 14th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and eleven have given a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $129.58.

AppLovin Trading Up 0.3 %

Shares of NASDAQ APP opened at $159.40 on Tuesday. The business has a fifty day simple moving average of $115.25 and a 200-day simple moving average of $91.60. The company has a market cap of $52.44 billion, a price-to-earnings ratio of 95.80, 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 company has a quick ratio of 2.28, a current ratio of 2.28 and a debt-to-equity ratio of 4.27.

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

Insiders Place Their Bets

In other AppLovin news, CMO Katie Kihorany Jansen sold 72,307 shares of the company’s stock in a transaction dated 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 $88,121,489.28. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, CMO Katie Kihorany Jansen sold 72,307 shares of the company’s stock in a transaction that occurred on Monday, August 12th. The stock was sold at an average price of $75.68, for a total transaction of $5,472,193.76. Following the completion of the transaction, the chief marketing officer now directly owns 1,164,396 shares in the company, valued at $88,121,489.28. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Dawson Alyssa Harvey sold 1,500 shares of the stock in a transaction that occurred on Tuesday, September 10th. The shares were sold at an average price of $87.90, for a total value of $131,850.00. Following the completion of the sale, the director now directly owns 10,247 shares of the company’s stock, valued at $900,711.30. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 610,094 shares of company stock valued at $51,022,478 over the last 90 days. 14.69% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in APP. DT Investment Partners LLC acquired a new stake in AppLovin during the third quarter worth about $27,000. Raleigh Capital Management Inc. bought a new position in AppLovin in the third quarter worth $29,000. Quest Partners LLC acquired a new stake in AppLovin during the second quarter worth $33,000. Oliver Lagore Vanvalin Investment Group bought a new stake in AppLovin in the 2nd quarter valued at $34,000. Finally, Covestor Ltd raised its stake in shares of AppLovin by 85.8% in the 1st quarter. Covestor Ltd now owns 511 shares of the company’s stock valued at $35,000 after buying an additional 236 shares in the last quarter. Institutional investors and hedge funds 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.