AppLovin (NASDAQ:APP) Earns Neutral Rating from Analysts at Daiwa Capital Markets

Daiwa Capital Markets began coverage on shares of AppLovin (NASDAQ:APP) in a report released on Monday, MarketBeat.com reports. The brokerage issued a neutral rating and a $80.00 price target on the stock.

Several other equities research analysts have also commented on the company. HSBC initiated coverage on AppLovin in a research note on Monday, December 18th. They issued a buy rating and a $53.20 price objective for the company. UBS Group boosted their price objective on AppLovin from $46.00 to $55.00 and gave the company a neutral rating in a research note on Thursday, February 15th. BTIG Research raised their target price on shares of AppLovin from $65.00 to $87.00 and gave the stock a buy rating in a research note on Tuesday, April 9th. The Goldman Sachs Group upped their price target on shares of AppLovin from $59.00 to $73.00 and gave the stock a buy rating in a research report on Thursday, February 15th. Finally, TheStreet upgraded shares of AppLovin from a d+ rating to a c- rating in a research report on Friday, March 8th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of Moderate Buy and a consensus target price of $59.31.

AppLovin Stock Down 2.9 %

APP stock opened at $68.86 on Monday. The company has a market cap of $23.55 billion, a price-to-earnings ratio of 68.86, a P/E/G ratio of 1.46 and a beta of 1.90. The company has a debt-to-equity ratio of 2.31, a quick ratio of 1.71 and a current ratio of 1.71. The business’s 50-day moving average is $64.85 and its two-hundred day moving average is $48.74. AppLovin has a fifty-two week low of $15.41 and a fifty-two week high of $79.55.

AppLovin (NASDAQ:APP) last issued its quarterly earnings data on Wednesday, February 14th. The company reported $0.49 earnings per share for the quarter, topping the consensus estimate of $0.35 by $0.14. The firm had revenue of $953.26 million for the quarter, compared to analysts’ expectations of $928.66 million. AppLovin had a net margin of 10.84% and a return on equity of 24.69%. The business’s quarterly revenue was up 35.7% on a year-over-year basis. During the same quarter in the prior year, the business earned ($0.21) EPS. As a group, analysts forecast that AppLovin will post 2.47 earnings per share for the current year.

Insiders Place Their Bets

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

Hedge Funds Weigh In On AppLovin

A number of large investors have recently bought and sold shares of APP. Quantbot Technologies LP increased its position in shares of AppLovin by 143.1% during the third quarter. Quantbot Technologies LP now owns 116,917 shares of the company’s stock worth $4,672,000 after acquiring an additional 68,822 shares during the period. Ameriprise Financial Inc. increased its holdings in AppLovin by 4,805.9% during the 3rd quarter. Ameriprise Financial Inc. now owns 1,402,657 shares of the company’s stock worth $56,050,000 after purchasing an additional 1,374,066 shares during the period. Black Swift Group LLC bought a new stake in AppLovin during the 3rd quarter valued at $999,000. Vanguard Group Inc. lifted its holdings in shares of AppLovin by 8.5% in the 3rd quarter. Vanguard Group Inc. now owns 18,099,233 shares of the company’s stock worth $723,245,000 after buying an additional 1,411,453 shares during the period. Finally, Scout Investments Inc. lifted its holdings in shares of AppLovin by 83.2% in the 3rd quarter. Scout Investments Inc. now owns 923,361 shares of the company’s stock worth $37,692,000 after buying an additional 419,221 shares during the period. Hedge funds and other institutional investors 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.