Stifel Nicolaus Raises AppLovin (NASDAQ:APP) Price Target to $85.00

AppLovin (NASDAQ:APP) had its price objective boosted by Stifel Nicolaus from $65.00 to $85.00 in a research note released on Wednesday, Benzinga reports. Stifel Nicolaus currently has a buy rating on the stock.

APP has been the subject of a number of other reports. Wedbush raised their price objective on AppLovin from $67.00 to $87.00 and gave the stock an outperform rating in a research report on Thursday, April 11th. TheStreet upgraded AppLovin from a d+ rating to a c- rating in a research report on Friday, March 8th. Oppenheimer raised their price objective on AppLovin from $70.00 to $85.00 and gave the stock an outperform rating in a research report on Monday, April 8th. BTIG Research raised their price objective on AppLovin from $65.00 to $87.00 and gave the stock a buy rating in a research report on Tuesday, April 9th. Finally, The Goldman Sachs Group raised their price objective on AppLovin from $59.00 to $73.00 and gave the stock a buy rating in a research report on Thursday, February 15th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and twelve have given a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of Moderate Buy and a consensus target price of $61.07.

AppLovin Trading Down 1.2 %

NASDAQ:APP opened at $69.74 on Wednesday. The company has a quick ratio of 1.71, a current ratio of 1.71 and a debt-to-equity ratio of 2.31. AppLovin has a 1-year low of $15.70 and a 1-year high of $79.55. The firm has a market capitalization of $23.85 billion, a price-to-earnings ratio of 69.74, a price-to-earnings-growth ratio of 1.47 and a beta of 1.90. The stock has a fifty day simple moving average of $67.66 and a 200 day simple moving average of $50.56.

AppLovin (NASDAQ:APP) last released its quarterly earnings results on Wednesday, February 14th. The company reported $0.49 earnings per share for the quarter, beating analysts’ consensus estimates of $0.35 by $0.14. AppLovin had a return on equity of 24.69% and a net margin of 10.84%. The business had revenue of $953.26 million during the quarter, compared to analyst estimates of $928.66 million. During the same quarter last year, the company posted ($0.21) EPS. AppLovin’s revenue for the quarter was up 35.7% on a year-over-year basis. Sell-side analysts forecast that AppLovin will post 2.49 earnings per share for the current year.

Insider Activity

In related news, CFO Matthew Stumpf sold 2,775 shares of the business’s stock in a transaction that occurred on Thursday, March 14th. The stock was sold at an average price of $63.30, for a total value of $175,657.50. Following the completion of the sale, the chief financial officer now directly owns 362,264 shares in the company, valued at approximately $22,931,311.20. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In related news, CFO Matthew Stumpf sold 2,775 shares of the firm’s stock in a transaction on Thursday, March 14th. The shares were sold at an average price of $63.30, for a total value of $175,657.50. Following the transaction, the chief financial officer now directly owns 362,264 shares in the company, valued at approximately $22,931,311.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Victoria Valenzuela sold 50,000 shares of the business’s stock in a transaction on Thursday, April 4th. The stock was sold at an average price of $75.01, for a total transaction of $3,750,500.00. Following the transaction, the insider now directly owns 471,560 shares of the company’s stock, valued at approximately $35,371,715.60. The disclosure for this sale can be found here. In the last quarter, insiders have sold 61,215 shares of company stock valued at $4,416,815. Insiders own 12.43% of the company’s stock.

Institutional Trading of AppLovin

Several hedge funds have recently added to or reduced their stakes in the business. GLOBALT Investments LLC GA bought a new stake in AppLovin during the 1st quarter valued at approximately $749,000. Janney Montgomery Scott LLC boosted its stake in AppLovin by 167.0% during the 1st quarter. Janney Montgomery Scott LLC now owns 16,146 shares of the company’s stock valued at $1,118,000 after purchasing an additional 10,099 shares during the period. Braun Stacey Associates Inc. bought a new stake in AppLovin during the 1st quarter valued at approximately $18,260,000. Smith Group Asset Management LLC boosted its stake in AppLovin by 1,812.6% during the 1st quarter. Smith Group Asset Management LLC now owns 366,355 shares of the company’s stock valued at $25,359,000 after purchasing an additional 347,200 shares during the period. Finally, Diversify Advisory Services LLC bought a new stake in AppLovin during the 1st quarter valued at approximately $329,000. Institutional investors 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.