AppLovin (NASDAQ:APP) Stock Price Expected to Rise, Loop Capital Analyst Says

AppLovin (NASDAQ:APP) had its target price upped by stock analysts at Loop Capital from $450.00 to $650.00 in a research note issued to investors on Thursday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. Loop Capital’s price objective indicates a potential upside of 49.29% from the company’s previous close.

Several other equities research analysts have also commented on APP. Stifel Nicolaus boosted their price target on shares of AppLovin from $250.00 to $435.00 and gave the stock a “buy” rating in a report on Thursday, December 5th. UBS Group boosted their price target on shares of AppLovin from $440.00 to $630.00 and gave the stock a “buy” rating in a report on Thursday, February 13th. BTIG Research boosted their price target on shares of AppLovin from $202.00 to $291.00 and gave the stock a “buy” rating in a report on Thursday, November 7th. Needham & Company LLC reissued a “hold” rating on shares of AppLovin in a report on Thursday, February 13th. Finally, Daiwa Capital Markets raised shares of AppLovin from a “neutral” rating to an “outperform” rating and boosted their price target for the stock from $80.00 to $280.00 in a report on Friday, November 8th. Four research analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, AppLovin has a consensus rating of “Moderate Buy” and an average price target of $442.18.

AppLovin Stock Performance

Shares of NASDAQ:APP traded down $58.77 during trading on Thursday, hitting $435.40. 7,173,755 shares of the stock traded hands, compared to its average volume of 5,132,237. The company has a quick ratio of 2.41, a current ratio of 2.41 and a debt-to-equity ratio of 3.70. The company has a market cap of $146.12 billion, a price-to-earnings ratio of 95.99, a P/E/G ratio of 3.61 and a beta of 2.30. The company has a fifty day moving average price of $361.30 and a two-hundred day moving average price of $239.37. AppLovin has a 52-week low of $54.50 and a 52-week high of $525.15.

AppLovin (NASDAQ:APP) last posted its earnings results on Wednesday, February 12th. The company reported $1.73 earnings per share for the quarter, beating the consensus estimate of $1.12 by $0.61. AppLovin had a net margin of 33.54% and a return on equity of 188.55%. As a group, equities analysts predict that AppLovin will post 6.87 EPS for the current year.

Insiders Place Their Bets

In other news, CEO Arash Adam Foroughi sold 1,676 shares of the firm’s stock in a transaction that occurred on Tuesday, December 10th. The shares were sold at an average price of $356.39, for a total value of $597,309.64. Following the completion of the transaction, the chief executive officer now owns 3,058,635 shares of the company’s stock, valued at approximately $1,090,066,927.65. This trade represents a 0.05 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Victoria Valenzuela sold 15,971 shares of the firm’s stock in a transaction that occurred on Thursday, December 19th. The shares were sold at an average price of $313.07, for a total transaction of $5,000,040.97. Following the completion of the transaction, the insider now directly owns 372,205 shares of the company’s stock, valued at approximately $116,526,219.35. The trade was a 4.11 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 217,403 shares of company stock valued at $72,325,024 over the last 90 days. 14.69% of the stock is owned by company insiders.

Institutional Trading of AppLovin

Hedge funds have recently added to or reduced their stakes in the company. Fuller & Thaler Asset Management Inc. acquired a new stake in AppLovin in the fourth quarter valued at approximately $25,000. GHP Investment Advisors Inc. acquired a new stake in AppLovin in the fourth quarter valued at approximately $25,000. Riverview Trust Co raised its holdings in AppLovin by 1,640.0% in the fourth quarter. Riverview Trust Co now owns 87 shares of the company’s stock valued at $28,000 after acquiring an additional 82 shares in the last quarter. Tucker Asset Management LLC acquired a new stake in AppLovin in the fourth quarter valued at approximately $28,000. Finally, Hemington Wealth Management raised its holdings in AppLovin by 78.4% in the fourth quarter. Hemington Wealth Management now owns 91 shares of the company’s stock valued at $29,000 after acquiring an additional 40 shares in the last quarter. Institutional investors and hedge funds own 41.85% of the company’s stock.

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.