AppLovin (NASDAQ:APP) Price Target Raised to $366.00 at Wells Fargo & Company

AppLovin (NASDAQ:APP) had its target price upped by Wells Fargo & Company from $360.00 to $366.00 in a research report sent to investors on Monday,Benzinga reports. They currently have an overweight rating on the stock.

A number of other equities analysts have also recently issued reports on the company. Benchmark assumed coverage on AppLovin in a report on Friday, January 10th. They issued a “buy” rating and a $375.00 target price on the stock. Daiwa Capital Markets upgraded shares of AppLovin from a “neutral” rating to an “outperform” rating and upped their price objective for the stock from $80.00 to $280.00 in a report on Friday, November 8th. Stifel Nicolaus upped their price target on shares of AppLovin from $250.00 to $435.00 and gave the company a “buy” rating in a report on Thursday, December 5th. BTIG Research increased their target price on shares of AppLovin from $202.00 to $291.00 and gave the company a “buy” rating in a research note on Thursday, November 7th. Finally, Loop Capital upped their target price on shares of AppLovin from $385.00 to $450.00 and gave the company a “buy” rating in a research note on Monday, December 16th. Four investment analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $338.06.

AppLovin Stock Performance

Shares of APP opened at $335.03 on Monday. The firm has a fifty day moving average of $324.66 and a 200-day moving average of $184.47. AppLovin has a 1 year low of $39.43 and a 1 year high of $417.64. The company has a market cap of $112.43 billion, a price-to-earnings ratio of 101.52, a price-to-earnings-growth ratio of 4.17 and a beta of 2.29. The company has a debt-to-equity ratio of 3.70, a quick ratio of 2.41 and a current ratio of 2.41.

AppLovin (NASDAQ:APP) last announced its earnings results on Wednesday, November 6th. The company reported $1.25 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.92 by $0.33. The firm had revenue of $1.20 billion during the quarter, compared to analyst estimates of $1.13 billion. AppLovin had a net margin of 26.85% and a return on equity of 122.24%. AppLovin’s revenue was up 38.6% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.30 EPS. As a group, equities analysts anticipate that AppLovin will post 4.06 earnings per share for the current year.

Insider Buying and Selling

In related news, CFO Herald Y. Chen sold 400 shares of AppLovin stock in a transaction that occurred on Monday, December 9th. The shares were sold at an average price of $366.16, for a total transaction of $146,464.00. Following the transaction, the chief financial officer now owns 207,649 shares of the company’s stock, valued at $76,032,757.84. This trade represents a 0.19 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Dawson Alyssa Harvey sold 500 shares of the business’s stock in a transaction dated Friday, December 6th. The shares were sold at an average price of $406.27, for a total value of $203,135.00. Following the completion of the transaction, the director now directly owns 6,684 shares of the company’s stock, valued at approximately $2,715,508.68. The trade was a 6.96 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 888,867 shares of company stock worth $284,773,062 over the last three months. 14.69% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On AppLovin

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Capital Performance Advisors LLP acquired a new position in shares of AppLovin during the 3rd quarter worth about $25,000. DT Investment Partners LLC bought a new position in AppLovin in the 3rd quarter valued at about $27,000. Meeder Asset Management Inc. bought a new stake in AppLovin in the 3rd quarter valued at $27,000. Raleigh Capital Management Inc. bought a new position in AppLovin during the third quarter worth about $29,000. Finally, Quest Partners LLC bought a new stake in shares of AppLovin in the second quarter valued at approximately $33,000. Institutional investors and hedge funds own 41.85% of the company’s stock.

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.