AppLovin (NASDAQ:APP) Coverage Initiated at Jefferies Financial Group

Stock analysts at Jefferies Financial Group began coverage on shares of AppLovin (NASDAQ:APP) in a report released on Thursday, MarketBeat.com reports. The brokerage set a “buy” rating and a $93.00 price target on the stock. Jefferies Financial Group’s price target would indicate a potential upside of 23.88% from the company’s current price.

Other equities analysts have also recently issued research reports about the stock. Oppenheimer upped their price target on shares of AppLovin from $70.00 to $85.00 and gave the stock an “outperform” rating in a research note on Monday, April 8th. BTIG Research increased their price objective on shares of AppLovin from $65.00 to $87.00 and gave the stock a “buy” rating in a research note on Tuesday, April 9th. UBS Group raised their target price on shares of AppLovin from $46.00 to $55.00 and gave the stock a “neutral” rating in a research note on Thursday, February 15th. The Goldman Sachs Group raised their target price on shares of AppLovin from $59.00 to $73.00 and gave the stock a “buy” rating in a research note on Thursday, February 15th. Finally, Daiwa Capital Markets started coverage on shares of AppLovin in a research note on Monday, April 15th. They set a “neutral” rating and a $80.00 target price on the stock. One research analyst has rated the stock with a sell rating, four have issued a hold rating and twelve have issued a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $63.60.

AppLovin Stock Up 3.6 %

Shares of AppLovin stock opened at $75.07 on Thursday. The company’s 50 day moving average price is $68.24 and its 200-day moving average price is $50.85. AppLovin has a 52-week low of $16.56 and a 52-week high of $79.55. The company has a debt-to-equity ratio of 2.31, a quick ratio of 1.71 and a current ratio of 1.71. The stock has a market capitalization of $25.67 billion, a price-to-earnings ratio of 74.28, a P/E/G ratio of 1.39 and a beta of 1.85.

AppLovin (NASDAQ:APP) last announced its earnings results on Wednesday, February 14th. The company reported $0.49 earnings per share for the quarter, beating analysts’ consensus estimates of $0.35 by $0.14. AppLovin had a net margin of 10.84% and a return on equity of 24.69%. The firm had revenue of $953.26 million for the quarter, compared to analyst estimates of $928.66 million. During the same quarter in the previous year, the firm posted ($0.21) EPS. The company’s revenue for the quarter was up 35.7% compared to the same quarter last year. Equities research analysts forecast that AppLovin will post 2.51 EPS for the current year.

Insider Buying and Selling

In other news, CFO Matthew Stumpf sold 2,775 shares of the business’s stock in a transaction on Thursday, March 14th. The stock was sold at an average price of $63.30, for a total value of $175,657.50. Following the completion of the transaction, the chief financial officer now directly owns 362,264 shares of the company’s stock, valued at $22,931,311.20. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other AppLovin news, Director Craig Scott Billings sold 5,550 shares of the business’s 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 sale, the director now owns 12,739 shares of the company’s stock, valued at $743,065.87. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Matthew Stumpf sold 2,775 shares of the business’s stock in a transaction dated Thursday, March 14th. The shares were sold at an average price of $63.30, for a total value of $175,657.50. Following the sale, the chief financial officer now directly owns 362,264 shares of the company’s stock, valued at approximately $22,931,311.20. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 61,215 shares of company stock valued at $4,416,815. 12.43% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the business. GAMMA Investing LLC raised its position in shares of AppLovin by 13.6% during the 1st quarter. GAMMA Investing LLC now owns 1,285 shares of the company’s stock worth $89,000 after purchasing an additional 154 shares during the period. DeDora Capital Inc. boosted its position in shares of AppLovin by 1.8% in the first quarter. DeDora Capital Inc. now owns 9,596 shares of the company’s stock worth $664,000 after buying an additional 166 shares during the period. Lindbrook Capital LLC boosted its position in shares of AppLovin by 26.6% in the fourth quarter. Lindbrook Capital LLC now owns 1,337 shares of the company’s stock worth $53,000 after buying an additional 281 shares during the period. Xponance Inc. boosted its position in shares of AppLovin by 2.5% in the fourth quarter. Xponance Inc. now owns 13,664 shares of the company’s stock worth $545,000 after buying an additional 334 shares during the period. Finally, CWM LLC boosted its position in shares of AppLovin by 16.3% in the fourth quarter. CWM LLC now owns 2,864 shares of the company’s stock worth $114,000 after buying an additional 401 shares during the period. Institutional investors and hedge funds 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.