AppLovin Corporation (NASDAQ:APP) Receives Consensus Rating of “Moderate Buy” from Analysts

AppLovin Corporation (NASDAQ:APP) has been assigned a consensus recommendation of “Moderate Buy” from the twenty-eight analysts that are covering the firm, Marketbeat.com reports. One research analyst has rated the stock with a sell recommendation, five have issued a hold recommendation, twenty-one have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 12 month price target among brokers that have issued a report on the stock in the last year is $605.1304.

APP has been the subject of a number of recent research reports. Wedbush boosted their price target on shares of AppLovin from $725.00 to $745.00 and gave the stock an “outperform” rating in a research note on Monday, October 6th. Needham & Company LLC reissued a “hold” rating on shares of AppLovin in a research note on Tuesday, August 26th. UBS Group boosted their price target on shares of AppLovin from $540.00 to $810.00 and gave the stock a “buy” rating in a research note on Friday, September 26th. Zacks Research downgraded shares of AppLovin from a “strong-buy” rating to a “hold” rating in a research note on Monday, October 6th. Finally, Deutsche Bank Aktiengesellschaft set a $705.00 price target on shares of AppLovin and gave the stock a “buy” rating in a research note on Wednesday, October 22nd.

Insider Buying and Selling at AppLovin

In related news, insider Victoria Valenzuela sold 35,000 shares of the business’s stock in a transaction that occurred on Thursday, September 4th. The shares were sold at an average price of $502.23, for a total transaction of $17,578,050.00. Following the completion of the sale, the insider directly owned 269,955 shares of the company’s stock, valued at $135,579,499.65. The trade was a 11.48% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CTO Vasily Shikin sold 30,000 shares of the business’s stock in a transaction that occurred on Friday, August 22nd. The stock was sold at an average price of $437.57, for a total transaction of $13,127,100.00. Following the sale, the chief technology officer directly owned 3,360,104 shares of the company’s stock, valued at approximately $1,470,280,707.28. This trade represents a 0.88% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 1,156,788 shares of company stock valued at $514,863,333. 13.66% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On AppLovin

Several large investors have recently bought and sold shares of APP. Atala Financial Inc bought a new stake in AppLovin in the first quarter valued at approximately $26,000. Hilltop National Bank bought a new stake in AppLovin in the second quarter valued at approximately $26,000. LFA Lugano Financial Advisors SA bought a new stake in AppLovin in the second quarter valued at approximately $26,000. Alpine Bank Wealth Management bought a new stake in AppLovin in the first quarter valued at approximately $27,000. Finally, Bartlett & CO. Wealth Management LLC bought a new stake in AppLovin in the first quarter valued at approximately $29,000. Institutional investors own 41.85% of the company’s stock.

AppLovin Price Performance

Shares of APP stock opened at $643.10 on Tuesday. AppLovin has a 1 year low of $158.33 and a 1 year high of $745.61. The firm’s 50 day moving average is $573.18 and its 200-day moving average is $427.78. The firm has a market capitalization of $217.53 billion, a price-to-earnings ratio of 91.35, a PEG ratio of 3.37 and a beta of 2.53. The company has a current ratio of 2.74, a quick ratio of 2.74 and a debt-to-equity ratio of 3.01.

AppLovin (NASDAQ:APP) last announced its earnings results on Wednesday, August 6th. The company reported $2.26 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.05 by $0.21. AppLovin had a net margin of 45.72% and a return on equity of 252.67%. The company had revenue of $1.26 billion for the quarter, compared to analyst estimates of $1.37 billion. During the same period in the prior year, the business earned $0.89 earnings per share. AppLovin’s quarterly revenue was up 77.1% on a year-over-year basis. Sell-side analysts forecast that AppLovin will post 6.87 EPS 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.