AppLovin (NASDAQ:APP) Price Target Raised to $475.00 at JPMorgan Chase & Co.

AppLovin (NASDAQ:APP) had its price objective raised by JPMorgan Chase & Co. from $325.00 to $475.00 in a research report released on Thursday morning,Benzinga reports. The firm currently has a neutral rating on the stock.

A number of other brokerages also recently commented on APP. Piper Sandler increased their price objective on AppLovin from $400.00 to $575.00 and gave the company an “overweight” rating in a research report on Thursday. The Goldman Sachs Group upped their target price on AppLovin from $220.00 to $335.00 and gave the company a “neutral” rating in a report on Monday, January 27th. Benchmark assumed coverage on AppLovin in a research note on Friday, January 10th. They issued a “buy” rating and a $375.00 price target on the stock. Wells Fargo & Company upped their price objective on shares of AppLovin from $360.00 to $366.00 and gave the company an “overweight” rating in a research note on Monday, January 13th. Finally, Needham & Company LLC reissued a “hold” rating on shares of AppLovin in a research report on Thursday. Four equities research analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, AppLovin presently has an average rating of “Moderate Buy” and an average price target of $422.18.

AppLovin Price Performance

NASDAQ:APP opened at $471.67 on Thursday. The company has a quick ratio of 2.41, a current ratio of 2.41 and a debt-to-equity ratio of 3.70. The business’s 50-day moving average price is $349.15 and its 200 day moving average price is $226.34. AppLovin has a 52-week low of $45.59 and a 52-week high of $525.15. The firm has a market cap of $158.29 billion, a P/E ratio of 142.93, a PEG ratio of 3.10 and a beta of 2.30.

AppLovin (NASDAQ:APP) last announced its quarterly earnings data on Wednesday, February 12th. The company reported $1.73 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.12 by $0.61. AppLovin had a net margin of 26.85% and a return on equity of 122.24%. As a group, sell-side analysts predict that AppLovin will post 4.09 earnings per share for the current fiscal year.

Insider Transactions at AppLovin

In other AppLovin news, CTO Vasily Shikin sold 593,588 shares of the business’s stock in a transaction that occurred on Thursday, November 21st. The shares were sold at an average price of $319.37, for a total value of $189,574,199.56. Following the completion of the sale, the chief technology officer now directly owns 3,919,024 shares of the company’s stock, valued at $1,251,618,694.88. The trade was a 13.15 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Victoria Valenzuela sold 15,971 shares of the stock in a transaction on Thursday, December 19th. The stock was sold at an average price of $313.07, for a total transaction of $5,000,040.97. Following the transaction, the insider now owns 372,205 shares in the company, valued at approximately $116,526,219.35. This trade represents a 4.11 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 828,991 shares of company stock valued at $267,640,144. 14.69% of the stock is owned by insiders.

Institutional Investors Weigh In On AppLovin

Large investors have recently bought and sold shares of the business. Capital Performance Advisors LLP acquired a new stake in shares of AppLovin in the third quarter worth about $25,000. GHP Investment Advisors Inc. bought a new position in shares of AppLovin in the 4th quarter valued at approximately $25,000. DT Investment Partners LLC acquired a new stake in AppLovin in the 3rd quarter worth approximately $27,000. Meeder Asset Management Inc. acquired a new stake in AppLovin in the 3rd quarter worth approximately $27,000. Finally, Riverview Trust Co boosted its position in AppLovin by 1,640.0% during the fourth quarter. Riverview Trust Co now owns 87 shares of the company’s stock worth $28,000 after purchasing an additional 82 shares during the period. 41.85% of the stock is currently owned by institutional investors.

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.