Royal Bank Of Canada Issues Positive Forecast for AppLovin (NASDAQ:APP) Stock Price

AppLovin (NASDAQ:APP) had its price objective boosted by equities researchers at Royal Bank Of Canada from $500.00 to $520.00 in a research note issued to investors on Thursday, Benzinga reports. The brokerage presently has an “outperform” rating on the stock. Royal Bank Of Canada‘s price objective would suggest a potential upside of 47.48% from the stock’s previous close.

APP has been the subject of a number of other reports. Piper Sandler reiterated a “neutral” rating and set a $355.00 price target (up from $325.00) on shares of AppLovin in a report on Thursday. Raymond James Financial dropped their price target on shares of AppLovin from $640.00 to $590.00 in a research report on Thursday, August 6th. Phillip Securities raised AppLovin from a “moderate buy” rating to a “strong-buy” rating and decreased their price objective for the company from $635.00 to $610.00 in a report on Tuesday, August 11th. BTIG Research boosted their target price on shares of AppLovin from $396.00 to $450.00 and gave the company a “buy” rating in a research note on Thursday. Finally, Oppenheimer restated an “outperform” rating and set a $520.00 target price (up from $490.00) on shares of AppLovin in a report on Thursday. Three research analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and eight have given a Hold rating to the stock. According to data from MarketBeat.com, AppLovin presently has a consensus rating of “Moderate Buy” and a consensus target price of $497.14.

AppLovin Stock Up 29.8%

NASDAQ:APP traded up $80.85 during trading hours on Thursday, hitting $352.60. 17,088,313 shares of the company’s stock traded hands, compared to its average volume of 5,568,994. The stock’s fifty day moving average price is $290.82 and its two-hundred day moving average price is $411.84. The firm has a market cap of $118.00 billion, a P/E ratio of 27.19, a P/E/G ratio of 0.55 and a beta of 2.51. The company has a debt-to-equity ratio of 1.11, a quick ratio of 4.30 and a current ratio of 4.30. AppLovin has a twelve month low of $225.19 and a twelve month high of $738.01.

AppLovin (NASDAQ:APP) last announced its quarterly earnings results on Wednesday, November 4th. The company reported $4.30 EPS for the quarter, beating the consensus estimate of $4.03 by $0.27. The business had revenue of $2.18 billion during the quarter, compared to analysts’ expectations of $2.07 billion. AppLovin had a return on equity of 193.10% and a net margin of 64.58%. The firm’s quarterly revenue was up 55.5% compared to the same quarter last year. During the same quarter in the previous year, the business posted $2.45 EPS. On average, research analysts expect that AppLovin will post 15.61 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of APP. State Street Corp increased its position in shares of AppLovin by 28.3% in the 2nd quarter. State Street Corp now owns 15,095,667 shares of the company’s stock valued at $7,777,741,000 after buying an additional 3,328,338 shares in the last quarter. WCM Investment Management LLC raised its stake in shares of AppLovin by 5.2% in the 1st quarter. WCM Investment Management LLC now owns 5,001,600 shares of the company’s stock valued at $1,860,995,000 after purchasing an additional 245,290 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in shares of AppLovin by 7.5% in the second quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,735,471 shares of the company’s stock valued at $894,167,000 after purchasing an additional 121,605 shares in the last quarter. Bank of New York Mellon Corp bought a new stake in shares of AppLovin in the second quarter valued at about $730,015,000. Finally, Amundi boosted its position in shares of AppLovin by 19.5% during the second quarter. Amundi now owns 1,332,633 shares of the company’s stock worth $686,612,000 after buying an additional 217,214 shares during the period. Institutional investors and hedge funds own 41.85% of the company’s stock.

More AppLovin News

Here are the key news stories impacting AppLovin this week:

• Positive Sentiment: AppLovin reported Q3 revenue of $2.18 billion, up 55.5% year over year, and earnings of $4.30 per share, beating analyst expectations. Net income rose 72%, underscoring the profitability of its AI-powered advertising platform. Q3 results
• Positive Sentiment: Q4 revenue guidance of $2.365 billion to $2.395 billion came in above expectations. The company also reported $1.4 billion in free cash flow and expanded its share-repurchase authorization to $3.6 billion, supporting its growth outlook and shareholder returns. Q4 outlook
• Positive Sentiment: Analysts maintained positive ratings and raised targets after the results: Oppenheimer lifted its target to $520, BTIG to $450, and Needham reaffirmed its $475 target. Analyst forecast changes
• Neutral Sentiment: The rally occurred despite a steep Nasdaq-100 decline, highlighting the earnings-driven nature of the move; broader market volatility may still affect the shares. Market and AppLovin move
• Negative Sentiment: Several law firms publicized a pending securities class action alleging AppLovin misled investors about the readiness and adoption of its AI models and self-service advertising tools. The allegations are not proven, but the litigation could create legal costs and reputational risk; the announced lead-plaintiff deadline is November 16. Class-action notice

About AppLovin

AppLovin Corporation is a technology company that provides software and services designed to help mobile application developers grow, monetize and operate their businesses. Its platform supports user acquisition, advertising, mediation, analytics and other functions across the mobile app ecosystem.

The company’s principal products include AppDiscovery, which helps developers market their applications and acquire users; MAX, an in-app bidding and monetization platform; and its AXON technology, an artificial intelligence-powered engine intended to improve advertising performance and match users with relevant applications and content.