AppLovin (NASDAQ:APP) Stock Price Up 3% – What’s Next?

Shares of AppLovin Corporation (NASDAQ:APP) shot up 3% during trading on Monday . The company traded as high as $520.36 and last traded at $517.23. 5,060,559 shares traded hands during mid-day trading, a decline of 24% from the average session volume of 6,686,445 shares. The stock had previously closed at $502.14.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on APP shares. Wedbush increased their price objective on shares of AppLovin from $465.00 to $640.00 and gave the stock an “outperform” rating in a research note on Thursday, February 12th. Wells Fargo & Company dropped their target price on shares of AppLovin from $735.00 to $543.00 and set an “overweight” rating for the company in a research report on Thursday, February 12th. UBS Group set a $740.00 price target on shares of AppLovin in a research report on Thursday, February 12th. Morgan Stanley set a $720.00 price objective on shares of AppLovin in a research report on Thursday, February 12th. Finally, Royal Bank Of Canada restated an “outperform” rating and set a $700.00 target price on shares of AppLovin in a research note on Thursday, February 12th. Twenty-one equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, AppLovin has an average rating of “Moderate Buy” and a consensus target price of $654.50.

AppLovin Price Performance

The company has a debt-to-equity ratio of 1.65, a current ratio of 3.32 and a quick ratio of 3.32. The stock has a market cap of $174.45 billion, a price-to-earnings ratio of 53.05, a price-to-earnings-growth ratio of 1.03 and a beta of 2.51. The business’s 50-day simple moving average is $514.19 and its two-hundred day simple moving average is $573.97.

AppLovin (NASDAQ:APP) last announced its quarterly earnings results on Wednesday, February 11th. The company reported $3.24 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.89 by $0.35. AppLovin had a net margin of 57.42% and a return on equity of 245.64%. The company had revenue of $1.66 billion during the quarter, compared to the consensus estimate of $1.61 billion. During the same period in the prior year, the business earned $1.73 earnings per share. The company’s revenue for the quarter was up 66.0% compared to the same quarter last year. Research analysts expect that AppLovin Corporation will post 6.87 earnings per share for the current year.

Insider Activity at AppLovin

In other news, insider Victoria Valenzuela sold 7,609 shares of the business’s stock in a transaction dated Thursday, December 18th. The stock was sold at an average price of $657.13, for a total transaction of $5,000,102.17. Following the sale, the insider directly owned 277,110 shares in the company, valued at approximately $182,097,294.30. The trade was a 2.67% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 13.66% of the company’s stock.

Institutional Investors Weigh In On AppLovin

Hedge funds have recently added to or reduced their stakes in the business. LFA Lugano Financial Advisors SA bought a new position in shares of AppLovin during the second quarter valued at $26,000. Board of the Pension Protection Fund bought a new stake in shares of AppLovin in the fourth quarter worth $27,000. Washington Trust Advisors Inc. grew its stake in shares of AppLovin by 160.0% in the fourth quarter. Washington Trust Advisors Inc. now owns 39 shares of the company’s stock worth $27,000 after purchasing an additional 24 shares during the last quarter. Mcguire Capital Advisors Inc. acquired a new stake in AppLovin in the fourth quarter valued at $27,000. Finally, Chilton Capital Management LLC bought a new position in AppLovin during the 3rd quarter worth $29,000. 41.85% of the stock is currently owned by institutional investors and hedge funds.

About AppLovin

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.