AppLovin Corporation (NASDAQ:APP) Given Average Rating of “Moderate Buy” by Analysts

AppLovin Corporation (NASDAQ:APP) has been assigned a consensus recommendation of “Moderate Buy” from the twenty-four ratings firms that are covering the firm, Marketbeat reports. Eight analysts have rated the stock with a hold recommendation, thirteen have assigned a buy recommendation and three have issued a strong buy recommendation on the company. The average 12-month price objective among analysts that have issued a report on the stock in the last year is $553.8261.

APP has been the subject of several recent analyst reports. Morgan Stanley cut their price objective on AppLovin from $720.00 to $650.00 and set an “overweight” rating for the company in a report on Thursday, August 6th. William Blair set a $440.00 price target on shares of AppLovin in a research note on Monday. KeyCorp set a $775.00 price target on shares of AppLovin in a report on Wednesday, June 10th. Deutsche Bank Aktiengesellschaft restated a “buy” rating and set a $660.00 price objective on shares of AppLovin in a research report on Thursday, May 7th. Finally, UBS Group cut their target price on shares of AppLovin from $798.00 to $790.00 and set a “buy” rating for the company in a research report on Thursday, August 6th.

AppLovin Trading Down 1.0%

NASDAQ:APP opened at $305.77 on Monday. The firm’s 50 day moving average is $427.68 and its 200 day moving average is $448.23. AppLovin has a 12 month low of $298.00 and a 12 month high of $745.61. The stock has a market capitalization of $102.33 billion, a PE ratio of 23.50, a price-to-earnings-growth ratio of 0.62 and a beta of 2.54. The company has a current ratio of 4.30, a quick ratio of 4.30 and a debt-to-equity ratio of 1.11.

AppLovin (NASDAQ:APP) last posted its quarterly earnings results on Tuesday, August 4th. The company reported $3.76 earnings per share (EPS) for the quarter, meeting the consensus estimate of $3.76. AppLovin had a net margin of 64.58% and a return on equity of 193.10%. The company had revenue of $1.92 billion for the quarter, compared to analyst estimates of $1.94 billion. During the same quarter in the previous year, the firm posted $2.39 earnings per share. The company’s quarterly revenue was up 52.8% compared to the same quarter last year. Sell-side analysts expect that AppLovin will post 15.57 earnings per share for the current year.

Insiders Place Their Bets

In related news, CFO Matthew Stumpf sold 9,052 shares of the company’s stock in a transaction on Thursday, May 28th. The shares were sold at an average price of $600.00, for a total transaction of $5,431,200.00. Following the completion of the sale, the chief financial officer directly owned 177,450 shares in the company, valued at $106,470,000. This represents a 4.85% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, insider Victoria Valenzuela sold 20,000 shares of the firm’s stock in a transaction on Thursday, June 4th. The stock was sold at an average price of $565.89, for a total transaction of $11,317,800.00. Following the completion of the sale, the insider directly owned 243,961 shares in the company, valued at approximately $138,055,090.29. This trade represents a 7.58% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 303,280 shares of company stock valued at $153,835,185 over the last three months. 12.81% of the stock is currently owned by company insiders.

Institutional Trading of AppLovin

Several large investors have recently modified their holdings of the business. Cassaday & Co Wealth Management LLC bought a new stake in AppLovin in the first quarter valued at $25,000. Washington Trust Advisors Inc. grew its holdings in shares of AppLovin by 160.0% during the 4th quarter. Washington Trust Advisors Inc. now owns 39 shares of the company’s stock worth $27,000 after acquiring an additional 24 shares during the period. Mcguire Capital Advisors Inc. bought a new position in shares of AppLovin in the 4th quarter worth approximately $27,000. Pioneer Family Office LLC bought a new position in shares of AppLovin in the 2nd quarter worth approximately $31,000. Finally, Laurel Wealth Advisors LLC purchased a new position in shares of AppLovin in the 4th quarter valued at approximately $32,000. 41.85% of the stock is owned by institutional investors.

AppLovin Company Profile

AppLovin Corporation is a Palo Alto–based mobile technology company that provides software and services to help app developers grow and monetize their businesses. The company operates a data-driven advertising and marketing platform that connects app publishers and advertisers, delivering tools for user acquisition, monetization, analytics and creative optimization. AppLovin’s technology is integrated into a broad set of mobile applications through software development kits (SDKs) and ad products designed to maximize revenue and engagement for developers.

Key components of AppLovin’s offering include an ad mediation and exchange platform that enables publishers to manage and monetize inventory across multiple demand sources, and a user-acquisition platform that helps advertisers target and scale campaigns.