AppLovin (NASDAQ:APP) Stock Price Up 11.7% – What’s Next?

AppLovin Corporation (NASDAQ:APP)’s share price rose 11.7% on Tuesday . The stock traded as high as $538.34 and last traded at $537.98. Approximately 2,355,623 shares were traded during mid-day trading, a decline of 57% from the average daily volume of 5,482,489 shares. The stock had previously closed at $481.68.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the company. Oppenheimer reduced their price objective on AppLovin from $740.00 to $660.00 and set an “outperform” rating for the company in a research report on Thursday, March 5th. Argus initiated coverage on shares of AppLovin in a research report on Tuesday, April 14th. They set a “buy” rating and a $520.00 target price on the stock. Arete Research set a $340.00 price target on AppLovin and gave the company a “neutral” rating in a research report on Monday, March 2nd. Piper Sandler raised their price target on shares of AppLovin from $650.00 to $665.00 and gave the stock an “overweight” rating in a research note on Thursday, May 7th. Finally, UBS Group cut their target price on shares of AppLovin from $740.00 to $716.00 and set a “buy” rating for the company in a research note on Thursday, May 7th. One analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and five have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $664.35.

AppLovin Stock Performance

The company’s 50 day moving average is $446.95 and its 200 day moving average is $522.30. The firm has a market cap of $172.83 billion, a P/E ratio of 44.20, a P/E/G ratio of 0.78 and a beta of 2.37. The company has a debt-to-equity ratio of 1.49, a quick ratio of 3.24 and a current ratio of 3.24.

AppLovin (NASDAQ:APP) last announced its earnings results on Wednesday, May 6th. The company reported $3.56 earnings per share for the quarter, topping analysts’ consensus estimates of $3.44 by $0.12. The business had revenue of $1.84 billion during the quarter, compared to the consensus estimate of $1.77 billion. AppLovin had a net margin of 64.29% and a return on equity of 219.37%. AppLovin’s quarterly revenue was up 58.9% on a year-over-year basis. During the same quarter last year, the firm earned $1.67 earnings per share. As a group, equities analysts predict that AppLovin Corporation will post 15.86 earnings per share for the current fiscal year.

Insider Activity at AppLovin

In other news, Director Eduardo Vivas sold 163,910 shares of the company’s stock in a transaction dated Monday, March 16th. The shares were sold at an average price of $453.49, for a total value of $74,331,545.90. Following the sale, the director directly owned 6,969,382 shares of the company’s stock, valued at $3,160,545,043.18. This represents a 2.30% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Arash Adam Foroughi sold 50,000 shares of the firm’s stock in a transaction dated Wednesday, March 11th. The shares were sold at an average price of $466.04, for a total transaction of $23,302,000.00. Following the sale, the chief executive officer directly owned 2,480,414 shares in the company, valued at approximately $1,155,972,140.56. The trade was a 1.98% decrease in their position. The SEC filing for this sale provides additional information. Over the last 90 days, insiders sold 365,244 shares of company stock valued at $169,584,607. Corporate insiders own 13.66% of the company’s stock.

Institutional Investors Weigh In On AppLovin

Several large investors have recently bought and sold shares of APP. Vanguard Group Inc. lifted its stake in AppLovin by 39.4% in the third quarter. Vanguard Group Inc. now owns 24,954,458 shares of the company’s stock worth $17,930,776,000 after acquiring an additional 7,051,663 shares during the period. State Street Corp lifted its position in shares of AppLovin by 111.1% during the 3rd quarter. State Street Corp now owns 11,852,466 shares of the company’s stock valued at $8,516,471,000 after buying an additional 6,237,051 shares in the last quarter. Corient Private Wealth LLC lifted its holdings in AppLovin by 3,118.6% in the 4th quarter. Corient Private Wealth LLC now owns 4,194,071 shares of the company’s stock valued at $2,826,049,000 after purchasing an additional 4,063,763 shares in the last quarter. Norges Bank acquired a new stake in shares of AppLovin in the 4th quarter worth $2,040,321,000. Finally, Capital Research Global Investors acquired a new stake in shares of AppLovin in the 3rd quarter worth $743,899,000. Institutional investors own 41.85% of the company’s stock.

AppLovin Company Profile

AppLovin Corporation is a Palo Alto–based mobile technology company that provides software and services to help app developers grow and monetize their businesses. The company operates a data-driven advertising and marketing platform that connects app publishers and advertisers, delivering tools for user acquisition, monetization, analytics and creative optimization. AppLovin’s technology is integrated into a broad set of mobile applications through software development kits (SDKs) and ad products designed to maximize revenue and engagement for developers.

Key components of AppLovin’s offering include an ad mediation and exchange platform that enables publishers to manage and monetize inventory across multiple demand sources, and a user-acquisition platform that helps advertisers target and scale campaigns.