AppLovin (NASDAQ:APP) PT Raised to $150.00

AppLovin (NASDAQ:APP) had its price target upped by BTIG Research from $114.00 to $150.00 in a research report report published on Friday morning, Benzinga reports. They currently have a buy rating on the stock.

Several other equities research analysts have also recently commented on the company. Bank of America boosted their price target on AppLovin from $100.00 to $120.00 and gave the company a buy rating in a research note on Wednesday, September 11th. Benchmark boosted their price target on AppLovin from $48.00 to $66.00 and gave the company a sell rating in a research note on Friday, August 23rd. Wedbush reduced their target price on AppLovin from $100.00 to $90.00 and set an outperform rating for the company in a report on Thursday, August 8th. Oppenheimer restated an outperform rating and issued a $105.00 target price (up from $97.00) on shares of AppLovin in a report on Thursday, August 8th. Finally, Jefferies Financial Group boosted their target price on AppLovin from $105.00 to $108.00 and gave the stock a buy rating in a report on Tuesday, September 10th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of Moderate Buy and an average target price of $91.78.

AppLovin Trading Up 3.3 %

NASDAQ:APP opened at $116.25 on Friday. The company has a debt-to-equity ratio of 4.27, a current ratio of 2.28 and a quick ratio of 2.28. AppLovin has a fifty-two week low of $34.45 and a fifty-two week high of $116.97. The stock’s 50-day moving average is $84.70 and its two-hundred day moving average is $78.78. The stock has a market cap of $38.25 billion, a PE ratio of 69.20, a price-to-earnings-growth ratio of 1.41 and a beta of 1.88.

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

Insider Activity

In other news, Director Eduardo Vivas sold 229,200 shares of the stock in a transaction that occurred 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 completion of the sale, the director now directly owns 7,412,475 shares of the company’s stock, valued at $640,067,216.25. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, Director Eduardo Vivas sold 229,200 shares of the firm’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 completion of the transaction, the director now directly owns 7,412,475 shares of the company’s stock, valued at $640,067,216.25. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Dawson Alyssa Harvey sold 1,500 shares of the firm’s stock in a transaction 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 transaction, the director now directly owns 10,247 shares of the company’s stock, valued at $900,711.30. The disclosure for this sale can be found here. Over the last three months, insiders sold 775,934 shares of company stock valued at $65,805,022. 14.69% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of APP. Precision Wealth Strategies LLC acquired a new position in AppLovin during the fourth quarter worth $324,000. Charles Schwab Investment Management Inc. raised its stake in AppLovin by 3.2% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,021,695 shares of the company’s stock worth $40,715,000 after acquiring an additional 31,773 shares in the last quarter. QRG Capital Management Inc. acquired a new position in AppLovin during the fourth quarter worth $290,000. Massachusetts Financial Services Co. MA acquired a new position in AppLovin during the fourth quarter worth $3,947,000. Finally, Norges Bank acquired a new position in AppLovin during the fourth quarter worth $43,973,000. 41.85% of the stock is 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.