AppLovin (NASDAQ:APP) Research Coverage Started at Jefferies Financial Group

Jefferies Financial Group assumed coverage on shares of AppLovin (NASDAQ:APP) in a research report sent to investors on Thursday morning, MarketBeat Ratings reports. The brokerage issued a buy rating and a $93.00 price objective on the stock.

A number of other brokerages have also recently issued reports on APP. TheStreet upgraded AppLovin from a d+ rating to a c- rating in a report on Friday, March 8th. Wedbush boosted their price objective on AppLovin from $67.00 to $87.00 and gave the stock an outperform rating in a report on Thursday, April 11th. Oppenheimer upped their price objective on shares of AppLovin from $70.00 to $85.00 and gave the company an outperform rating in a research note on Monday, April 8th. Morgan Stanley lifted their target price on shares of AppLovin from $55.00 to $70.00 and gave the stock an equal weight rating in a research report on Tuesday, April 16th. Finally, Daiwa Capital Markets assumed coverage on shares of AppLovin in a research report on Monday, April 15th. They issued a neutral rating and a $80.00 price target for the company. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and twelve have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of Moderate Buy and a consensus price target of $63.60.

AppLovin Price Performance

Shares of NASDAQ APP opened at $75.07 on Thursday. The firm has a 50-day moving average of $68.59 and a two-hundred day moving average of $51.10. The company has a market capitalization of $25.67 billion, a price-to-earnings ratio of 75.07, a PEG ratio of 1.44 and a beta of 1.85. The company has a current ratio of 1.71, a quick ratio of 1.71 and a debt-to-equity ratio of 2.31. AppLovin has a twelve month low of $16.56 and a twelve month high of $79.55.

AppLovin (NASDAQ:APP) last released its earnings results on Wednesday, February 14th. The company reported $0.49 EPS for the quarter, beating the consensus estimate of $0.35 by $0.14. The business had revenue of $953.26 million during the quarter, compared to analyst estimates of $928.66 million. AppLovin had a net margin of 10.84% and a return on equity of 24.69%. The business’s quarterly revenue was up 35.7% on a year-over-year basis. During the same period in the prior year, the business earned ($0.21) earnings per share. As a group, analysts expect that AppLovin will post 2.52 earnings per share for the current fiscal year.

Insider Buying and Selling

In other AppLovin news, CFO Matthew Stumpf sold 2,775 shares of the business’s stock in a transaction dated Thursday, March 14th. The stock was sold at an average price of $63.30, for a total value of $175,657.50. Following the transaction, the chief financial officer now owns 362,264 shares in the company, valued at $22,931,311.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other AppLovin news, Director Craig Scott Billings sold 5,550 shares of AppLovin stock in a transaction that occurred on Tuesday, February 20th. The shares were sold at an average price of $58.33, for a total value of $323,731.50. Following the completion of the sale, the director now directly owns 12,739 shares in the company, valued at $743,065.87. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Matthew Stumpf sold 2,775 shares of the stock in a transaction on Thursday, March 14th. The stock was sold at an average price of $63.30, for a total transaction of $175,657.50. Following the transaction, the chief financial officer now owns 362,264 shares in the company, valued at approximately $22,931,311.20. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 61,215 shares of company stock worth $4,416,815. Corporate insiders own 12.43% of the company’s stock.

Institutional Investors Weigh In On AppLovin

Large investors have recently bought and sold shares of the business. FinTrust Capital Advisors LLC acquired a new stake in shares of AppLovin in the fourth quarter worth about $32,000. BluePath Capital Management LLC bought a new position in shares of AppLovin in the 3rd quarter valued at approximately $33,000. Castleview Partners LLC acquired a new stake in AppLovin in the 3rd quarter worth approximately $38,000. Atlas Capital Advisors LLC bought a new stake in AppLovin during the first quarter worth approximately $38,000. Finally, Cullen Frost Bankers Inc. bought a new stake in AppLovin during the third quarter worth approximately $44,000. 41.85% of the stock is currently owned by institutional investors.

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.