AppLovin Co. (NASDAQ:APP) Given Consensus Rating of “Moderate Buy” by Analysts

AppLovin Co. (NASDAQ:APP) has been given an average recommendation of “Moderate Buy” by the twenty-two brokerages that are covering the company, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating, seventeen have assigned a buy rating and one has assigned a strong buy rating to the company. The average 1-year target price among brokers that have issued a report on the stock in the last year is $415.15.

APP has been the topic of several recent research reports. Loop Capital restated a “buy” rating and issued a $650.00 price objective on shares of AppLovin in a research report on Friday, March 28th. HSBC set a $436.00 price target on shares of AppLovin and gave the stock a “buy” rating in a research note on Wednesday, April 23rd. UBS Group cut their price objective on shares of AppLovin from $630.00 to $450.00 and set a “buy” rating for the company in a research report on Friday, April 11th. Oppenheimer restated an “outperform” rating and set a $560.00 target price on shares of AppLovin in a research report on Thursday, March 27th. Finally, Wells Fargo & Company reduced their price target on AppLovin from $538.00 to $386.00 and set an “overweight” rating on the stock in a research note on Tuesday, April 8th.

Insider Activity at AppLovin

In other AppLovin news, CEO Arash Adam Foroughi sold 45,000 shares of the stock in a transaction that occurred on Friday, February 21st. The shares were sold at an average price of $422.21, for a total value of $18,999,450.00. Following the completion of the sale, the chief executive officer now owns 2,914,492 shares of the company’s stock, valued at $1,230,527,667.32. This trade represents a 1.52 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Herald Y. Chen sold 200,000 shares of the business’s stock in a transaction on Friday, February 28th. The stock was sold at an average price of $324.65, for a total transaction of $64,930,000.00. Following the transaction, the director now directly owns 621,209 shares in the company, valued at approximately $201,675,501.85. The trade was a 24.35 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 306,900 shares of company stock worth $106,401,841. Corporate insiders own 14.69% of the company’s stock.

Institutional Trading of AppLovin

Several large investors have recently modified their holdings of the business. Oxinas Partners Wealth Management LLC acquired a new stake in AppLovin during the 4th quarter valued at approximately $1,081,000. Virtu Financial LLC acquired a new stake in shares of AppLovin during the third quarter worth approximately $3,211,000. Franchise Capital Ltd bought a new stake in shares of AppLovin in the fourth quarter worth $2,811,000. Barclays PLC increased its stake in shares of AppLovin by 92.5% in the third quarter. Barclays PLC now owns 318,992 shares of the company’s stock worth $41,643,000 after buying an additional 153,248 shares during the last quarter. Finally, Tcfg Wealth Management LLC acquired a new stake in AppLovin in the fourth quarter valued at $369,000. 41.85% of the stock is currently owned by institutional investors and hedge funds.

AppLovin Price Performance

Shares of NASDAQ APP opened at $301.84 on Tuesday. The company has a current ratio of 2.41, a quick ratio of 2.41 and a debt-to-equity ratio of 3.70. The company’s 50-day moving average price is $276.24 and its 200 day moving average price is $308.18. AppLovin has a 52 week low of $60.67 and a 52 week high of $525.15. The stock has a market cap of $102.61 billion, a price-to-earnings ratio of 66.48, a PEG ratio of 3.02 and a beta of 2.39.

AppLovin (NASDAQ:APP) last issued its quarterly earnings data on Wednesday, February 12th. The company reported $1.73 earnings per share for the quarter, topping analysts’ consensus estimates of $1.12 by $0.61. AppLovin had a net margin of 33.54% and a return on equity of 188.55%. As a group, research analysts forecast that AppLovin will post 6.87 earnings per share for the current fiscal year.

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.