UBS Group Has Lowered Expectations for AppLovin (NASDAQ:APP) Stock Price

AppLovin (NASDAQ:APP) had its price objective lowered by investment analysts at UBS Group from $630.00 to $450.00 in a report issued on Friday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. UBS Group’s target price suggests a potential upside of 84.15% from the stock’s current price.

APP has been the topic of a number of other research reports. Citigroup lifted their price target on shares of AppLovin from $460.00 to $600.00 and gave the stock a “buy” rating in a report on Wednesday, February 19th. The Goldman Sachs Group increased their price target on AppLovin from $220.00 to $335.00 and gave the stock a “neutral” rating in a research note on Monday, January 27th. Loop Capital restated a “buy” rating and issued a $650.00 price objective on shares of AppLovin in a research note on Friday, March 28th. FBN Securities assumed coverage on shares of AppLovin in a report on Friday, March 28th. They set an “outperform” rating and a $385.00 price objective on the stock. Finally, Bank of America lifted their target price on shares of AppLovin from $375.00 to $580.00 and gave the stock a “buy” rating in a research note on Thursday, February 13th. One analyst has rated the stock with a sell rating, three have assigned a hold rating, sixteen have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, AppLovin presently has an average rating of “Moderate Buy” and an average target price of $424.84.

AppLovin Stock Performance

APP stock traded down $19.46 during midday trading on Friday, hitting $244.37. The company’s stock had a trading volume of 3,124,683 shares, compared to its average volume of 5,718,253. AppLovin has a 1 year low of $60.67 and a 1 year high of $525.15. The stock has a market cap of $83.07 billion, a price-to-earnings ratio of 53.63, a PEG ratio of 3.02 and a beta of 2.39. The stock’s 50-day moving average price is $329.81 and its 200 day moving average price is $292.58. The company has a quick ratio of 2.41, a current ratio of 2.41 and a debt-to-equity ratio of 3.70.

AppLovin (NASDAQ:APP) last posted its quarterly earnings results on Wednesday, February 12th. The company reported $1.73 earnings per share for the quarter, beating the consensus estimate of $1.12 by $0.61. AppLovin had a net margin of 33.54% and a return on equity of 188.55%. On average, equities analysts forecast that AppLovin will post 6.87 EPS for the current year.

Insider Activity

In other AppLovin news, CTO Vasily Shikin sold 17,500 shares of the firm’s stock in a transaction dated Monday, March 10th. The stock was sold at an average price of $241.65, for a total transaction of $4,228,875.00. Following the sale, the chief technology officer now owns 88,389 shares in the company, valued at $21,359,201.85. This trade represents a 16.53 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Arash Adam Foroughi sold 45,000 shares of AppLovin stock in a transaction dated Friday, February 21st. The stock was sold at an average price of $422.21, for a total value of $18,999,450.00. Following the sale, the chief executive officer now directly owns 2,914,492 shares of the company’s stock, valued at approximately $1,230,527,667.32. This trade represents a 1.52 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 306,900 shares of company stock worth $106,401,841. 14.69% of the stock is currently owned by insiders.

Institutional Trading of AppLovin

Hedge funds and other institutional investors have recently bought and sold shares of the company. Sugar Maple Asset Management LLC lifted its holdings in shares of AppLovin by 40.7% in the 1st quarter. Sugar Maple Asset Management LLC now owns 1,688 shares of the company’s stock worth $447,000 after acquiring an additional 488 shares during the last quarter. Bay Rivers Group raised its position in AppLovin by 73.6% in the 1st quarter. Bay Rivers Group now owns 2,153 shares of the company’s stock worth $570,000 after purchasing an additional 913 shares during the period. Beacon Financial Group lifted its stake in AppLovin by 38.5% in the first quarter. Beacon Financial Group now owns 2,042 shares of the company’s stock worth $541,000 after purchasing an additional 568 shares during the last quarter. Matrix Trust Co purchased a new stake in AppLovin during the first quarter valued at about $194,000. Finally, Merit Financial Group LLC grew its stake in shares of AppLovin by 657.1% during the first quarter. Merit Financial Group LLC now owns 7,147 shares of the company’s stock valued at $1,894,000 after buying an additional 6,203 shares during the last quarter. Hedge funds and other institutional investors 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.