AppLovin Co. (NASDAQ:APP) Receives Average Rating of “Moderate Buy” from Brokerages

Shares of AppLovin Co. (NASDAQ:APP) have received a consensus recommendation of “Moderate Buy” from the seventeen analysts that are currently covering the stock, MarketBeat Ratings reports. One research analyst has rated the stock with a sell recommendation, four have issued a hold recommendation and twelve have assigned a buy recommendation to the company. The average 12-month price objective among brokerages that have covered the stock in the last year is $59.31.

Several research analysts have recently commented on APP shares. UBS Group boosted their target price on AppLovin from $46.00 to $55.00 and gave the stock a “neutral” rating in a report on Thursday, February 15th. Wedbush boosted their price objective on shares of AppLovin from $67.00 to $87.00 and gave the stock an “outperform” rating in a research report on Thursday, April 11th. Oppenheimer boosted their price objective on shares of AppLovin from $70.00 to $85.00 and gave the stock an “outperform” rating in a research report on Monday, April 8th. The Goldman Sachs Group boosted their price objective 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, Morgan Stanley boosted their price objective on shares of AppLovin from $55.00 to $70.00 and gave the stock an “equal weight” rating in a research report on Tuesday, April 16th.

AppLovin Stock Down 0.7 %

Shares of APP opened at $69.21 on Friday. The company has a market capitalization of $23.67 billion, a P/E ratio of 69.21, a PEG ratio of 1.43 and a beta of 1.90. The company has a debt-to-equity ratio of 2.31, a current ratio of 1.71 and a quick ratio of 1.71. AppLovin has a one year low of $15.61 and a one year high of $79.55. The business’s 50 day simple moving average is $66.85 and its 200-day simple moving average is $49.74.

AppLovin (NASDAQ:APP) last announced its earnings results on Wednesday, February 14th. The company reported $0.49 EPS for the quarter, topping the consensus estimate of $0.35 by $0.14. The business had revenue of $953.26 million for the quarter, compared to the consensus estimate of $928.66 million. AppLovin had a return on equity of 24.69% and a net margin of 10.84%. AppLovin’s revenue was up 35.7% compared to the same quarter last year. During the same period in the previous year, the business earned ($0.21) EPS. As a group, sell-side analysts predict that AppLovin will post 2.49 EPS for the current fiscal year.

Insider Buying and Selling at AppLovin

In related news, insider Victoria Valenzuela sold 2,890 shares of the firm’s stock in a transaction on Thursday, February 22nd. The stock was sold at an average price of $57.76, for a total transaction of $166,926.40. Following the sale, the insider now owns 546,560 shares of the company’s stock, valued at approximately $31,569,305.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other AppLovin news, Director Craig Scott Billings sold 5,550 shares of the stock in a transaction dated Tuesday, February 20th. The stock was sold at an average price of $58.33, for a total transaction of $323,731.50. Following the completion of the transaction, the director now owns 12,739 shares in the company, valued at approximately $743,065.87. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Victoria Valenzuela sold 2,890 shares of the stock in a transaction dated Thursday, February 22nd. The stock was sold at an average price of $57.76, for a total value of $166,926.40. Following the transaction, the insider now owns 546,560 shares of the company’s stock, valued at approximately $31,569,305.60. The disclosure for this sale can be found here. In the last 90 days, insiders sold 61,215 shares of company stock worth $4,416,815. Insiders own 12.43% of the company’s stock.

Hedge Funds Weigh In On AppLovin

A number of large investors have recently added to or reduced their stakes in the company. New York State Teachers Retirement System bought a new position in AppLovin during the 1st quarter worth about $491,000. WCM Investment Management LLC bought a new position in AppLovin during the 1st quarter worth about $497,488,000. TRUE Private Wealth Advisors bought a new position in AppLovin during the 1st quarter worth about $208,000. Fjarde AP Fonden Fourth Swedish National Pension Fund bought a new position in AppLovin during the 1st quarter worth about $3,025,000. Finally, Dakota Wealth Management grew its holdings in shares of AppLovin by 504.4% in the 1st quarter. Dakota Wealth Management now owns 58,587 shares of the company’s stock valued at $4,055,000 after acquiring an additional 48,894 shares in the last quarter. 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.