Stifel Nicolaus Raises AppLovin (NASDAQ:APP) Price Target to $185.00

AppLovin (NASDAQ:APP) had its price objective boosted by Stifel Nicolaus from $100.00 to $185.00 in a research note issued to investors on Wednesday, Benzinga reports. They currently have a buy rating on the stock.

APP has been the topic of a number of other research reports. Benchmark boosted their price target on AppLovin from $48.00 to $66.00 and gave the stock a “sell” rating in a research report on Friday, August 23rd. Macquarie reaffirmed an “outperform” rating and issued a $150.00 target price (up previously from $115.00) on shares of AppLovin in a research report on Wednesday, September 25th. JPMorgan Chase & Co. upped their target price on AppLovin from $57.00 to $160.00 and gave the company a “neutral” rating in a research report on Tuesday. Oppenheimer upped their target price on AppLovin from $105.00 to $180.00 and gave the company an “outperform” rating in a research report on Wednesday. Finally, Wedbush decreased their target price on AppLovin from $100.00 to $90.00 and set an “outperform” rating on the stock in a research report on Thursday, August 8th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $129.58.

AppLovin Price Performance

Shares of NASDAQ APP opened at $161.63 on Wednesday. The business’s 50 day moving average price is $119.72 and its two-hundred day moving average price is $93.11. The company has a market cap of $53.18 billion, a PE ratio of 96.21, a price-to-earnings-growth ratio of 2.07 and a beta of 1.92. 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 has a twelve month low of $34.45 and a twelve month high of $165.38.

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

Insider Activity at AppLovin

In related news, Director Dawson Alyssa Harvey sold 1,500 shares of the business’s stock in a transaction that occurred on Tuesday, September 10th. The stock was 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 in the company, valued at approximately $900,711.30. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through 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 stock was sold at an average price of $87.90, for a total transaction of $131,850.00. Following the completion of the sale, the director now directly owns 10,247 shares in the company, valued at $900,711.30. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Eduardo Vivas sold 229,200 shares of the company’s stock in a transaction on Friday, August 16th. The stock was sold at an average price of $86.35, for a total value of $19,791,420.00. Following the sale, the director now owns 7,412,475 shares of the company’s stock, valued at $640,067,216.25. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 610,094 shares of company stock worth $51,022,478. Company insiders own 14.69% of the company’s stock.

Institutional Investors Weigh In On AppLovin

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. GAMMA Investing LLC lifted its stake in AppLovin by 8.2% during the third quarter. GAMMA Investing LLC now owns 1,665 shares of the company’s stock worth $217,000 after purchasing an additional 126 shares during the last quarter. American Trust increased its holdings in shares of AppLovin by 2.8% during the first quarter. American Trust now owns 5,550 shares of the company’s stock worth $384,000 after buying an additional 150 shares in the last quarter. Highland Capital Management LLC increased its holdings in shares of AppLovin by 0.5% during the first quarter. Highland Capital Management LLC now owns 28,120 shares of the company’s stock worth $1,946,000 after buying an additional 153 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. increased its holdings in shares of AppLovin by 1.2% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 13,627 shares of the company’s stock worth $1,741,000 after buying an additional 157 shares in the last quarter. Finally, Cullen Frost Bankers Inc. increased its holdings in shares of AppLovin by 10.3% during the second quarter. Cullen Frost Bankers Inc. now owns 2,205 shares of the company’s stock worth $184,000 after buying an additional 205 shares in the last quarter. 41.85% of the stock is currently owned by institutional investors.

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.