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

AppLovin Co. (NASDAQ:APP) has received an average recommendation of “Moderate Buy” from the twenty brokerages that are currently covering the company, Marketbeat.com reports. One research analyst has rated the stock with a sell recommendation, four have assigned a hold recommendation, fourteen have issued a buy recommendation and one has given a strong buy recommendation to the company. The average 1-year price target among analysts that have issued a report on the stock in the last year is $438.28.

A number of research firms recently commented on APP. Bank of America boosted their price objective on shares of AppLovin from $375.00 to $580.00 and gave the stock a “buy” rating in a report on Thursday, February 13th. Jefferies Financial Group boosted their price objective on shares of AppLovin from $400.00 to $425.00 and gave the stock a “buy” rating in a report on Wednesday, January 8th. Macquarie boosted their price objective on shares of AppLovin from $270.00 to $450.00 and gave the stock an “outperform” rating in a report on Friday, December 6th. Piper Sandler boosted their price objective on shares of AppLovin from $400.00 to $575.00 and gave the stock an “overweight” rating in a report on Thursday, February 13th. Finally, UBS Group upped their price target on shares of AppLovin from $440.00 to $630.00 and gave the company a “buy” rating in a report on Thursday, February 13th.

Insider Activity

In related news, Director Herald Y. Chen sold 200,000 shares of the company’s stock in a transaction that occurred on Friday, February 28th. The shares were sold at an average price of $324.65, for a total transaction of $64,930,000.00. Following the completion of the transaction, the director now owns 621,209 shares of the company’s stock, valued at approximately $201,675,501.85. This represents a 24.35 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Victoria Valenzuela sold 15,971 shares of the company’s stock in a transaction that occurred on Thursday, December 19th. The stock was sold at an average price of $313.07, for a total transaction of $5,000,040.97. Following the transaction, the insider now directly owns 372,205 shares of the company’s stock, valued at $116,526,219.35. This trade represents a 4.11 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 322,871 shares of company stock valued at $111,401,882 over the last 90 days. Insiders own 14.69% of the company’s stock.

Institutional Investors Weigh In On AppLovin

Several institutional investors have recently bought and sold shares of APP. FMR LLC grew its stake in AppLovin by 622.8% during the third quarter. FMR LLC now owns 7,893,237 shares of the company’s stock worth $1,030,462,000 after buying an additional 6,801,138 shares during the period. SVB Wealth LLC purchased a new stake in AppLovin during the fourth quarter worth approximately $1,781,922,000. Baillie Gifford & Co. grew its stake in AppLovin by 5,421.4% during the fourth quarter. Baillie Gifford & Co. now owns 4,084,496 shares of the company’s stock worth $1,322,682,000 after buying an additional 4,010,520 shares during the period. Norges Bank purchased a new stake in AppLovin during the fourth quarter worth approximately $828,138,000. Finally, Arrowstreet Capital Limited Partnership grew its stake in AppLovin by 457.2% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 2,893,148 shares of the company’s stock worth $936,888,000 after buying an additional 2,373,885 shares during the period. 41.85% of the stock is currently owned by hedge funds and other institutional investors.

AppLovin Trading Up 7.7 %

NASDAQ APP opened at $292.89 on Monday. The company has a debt-to-equity ratio of 3.70, a quick ratio of 2.41 and a current ratio of 2.41. The firm has a market cap of $99.57 billion, a PE ratio of 64.51, a P/E/G ratio of 3.02 and a beta of 2.33. AppLovin has a one year low of $60.67 and a one year high of $525.15. The firm’s fifty day moving average is $357.00 and its two-hundred day moving average is $269.20.

AppLovin (NASDAQ:APP) last issued its 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%. Analysts expect that AppLovin will post 6.87 earnings per share for the current year.

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.