AppLovin (NASDAQ:APP) Reaches New 1-Year High – Should You Buy?

Shares of AppLovin Co. (NASDAQ:APP) reached a new 52-week high on Monday . The stock traded as high as $156.41 and last traded at $156.03, with a volume of 833258 shares traded. The stock had previously closed at $145.22.

Wall Street Analysts Forecast Growth

APP has been the subject of a number of research analyst reports. UBS Group raised AppLovin from a “neutral” rating to a “buy” rating and upped their price target for the company from $100.00 to $145.00 in a report on Tuesday, September 17th. Bank of America increased their target price on shares of AppLovin from $100.00 to $120.00 and gave the company a “buy” rating in a research report on Wednesday, September 11th. The Goldman Sachs Group cut shares of AppLovin from a “buy” rating to a “neutral” rating and boosted their price target for the company from $103.00 to $150.00 in a research report on Monday, October 14th. Macquarie reaffirmed an “outperform” rating and set a $150.00 price objective (up previously from $115.00) on shares of AppLovin in a report on Wednesday, September 25th. Finally, Benchmark boosted their target price on AppLovin from $48.00 to $66.00 and gave the company a “sell” rating in a report on Friday, August 23rd. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and ten have given a buy rating to the company’s stock. According to MarketBeat, AppLovin has an average rating of “Moderate Buy” and an average price target of $110.01.

AppLovin Stock Up 8.2 %

The business has a 50-day simple moving average of $111.99 and a two-hundred day simple moving average of $90.40. The company has a market capitalization of $51.70 billion, a price-to-earnings ratio of 93.93, a PEG ratio of 2.07 and a beta of 1.92. The company has a debt-to-equity ratio of 4.27, a quick ratio of 2.28 and a current ratio of 2.28.

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

Insider Transactions at AppLovin

In other news, Director Dawson Alyssa Harvey sold 1,500 shares of the business’s stock in a transaction dated Tuesday, September 10th. The shares were sold at an average price of $87.90, for a total transaction of $131,850.00. Following the transaction, the director now directly owns 10,247 shares in the company, valued at $900,711.30. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. In other news, CMO Katie Kihorany Jansen sold 72,307 shares of the firm’s stock in a transaction on Monday, August 12th. The stock was sold at an average price of $75.68, for a total transaction of $5,472,193.76. Following the sale, the chief marketing officer now owns 1,164,396 shares in the company, valued at $88,121,489.28. This trade 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 through this link. Also, Director Dawson Alyssa Harvey sold 1,500 shares of AppLovin stock in a transaction on Tuesday, September 10th. The shares were 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 of the company’s stock, valued at approximately $900,711.30. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 610,094 shares of company stock worth $51,022,478. Company insiders own 14.69% of the company’s stock.

Institutional Trading of AppLovin

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Veracity Capital LLC purchased a new stake in AppLovin during the 3rd quarter worth $232,000. Alta Wealth Advisors LLC purchased a new stake in shares of AppLovin in the third quarter worth about $202,000. Blue Trust Inc. grew its stake in shares of AppLovin by 26.3% in the third quarter. Blue Trust Inc. now owns 4,356 shares of the company’s stock valued at $569,000 after buying an additional 906 shares in the last quarter. Strategic Advocates LLC grew its stake in shares of AppLovin by 29.3% in the third quarter. Strategic Advocates LLC now owns 12,382 shares of the company’s stock valued at $1,616,000 after buying an additional 2,809 shares in the last quarter. Finally, Sumitomo Mitsui DS Asset Management Company Ltd raised its holdings in shares of AppLovin by 27.7% during the 3rd quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 19,757 shares of the company’s stock valued at $2,579,000 after buying an additional 4,287 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.