AppLovin Co. (NASDAQ:APP) Receives $106.44 Average PT from Analysts

Shares of AppLovin Co. (NASDAQ:APP) have been given a consensus rating of “Moderate Buy” by the fifteen research firms that are presently covering the firm, Marketbeat reports. One equities research analyst has rated the stock with a sell recommendation, four have given a hold recommendation and ten have given a buy recommendation to the company. The average 1-year price objective among brokerages that have covered the stock in the last year is $110.01.

Several analysts have recently commented on APP shares. Oppenheimer restated an “outperform” rating and set a $105.00 price objective (up from $97.00) on shares of AppLovin in a research report on Thursday, August 8th. The Goldman Sachs Group downgraded shares of AppLovin from a “buy” rating to a “neutral” rating and raised their price objective for the company from $103.00 to $150.00 in a research report on Monday. Bank of America raised their price objective on shares of AppLovin from $100.00 to $120.00 and gave the company a “buy” rating in a research report on Wednesday, September 11th. BTIG Research raised their price objective on shares of AppLovin from $114.00 to $150.00 and gave the company a “buy” rating in a research report on Friday, September 13th. Finally, Wedbush decreased their price objective on shares of AppLovin from $100.00 to $90.00 and set an “outperform” rating on the stock in a research report on Thursday, August 8th.

AppLovin Stock Down 1.0 %

Shares of APP stock opened at $143.81 on Friday. AppLovin has a 12 month low of $34.45 and a 12 month high of $148.48. The stock has a market cap of $47.32 billion, a P/E ratio of 85.60, a P/E/G ratio of 2.07 and a beta of 1.92. The company has a current ratio of 2.28, a quick ratio of 2.28 and a debt-to-equity ratio of 4.27. The company has a 50 day simple moving average of $107.75 and a two-hundred day simple moving average of $88.84.

AppLovin (NASDAQ:APP) last announced its earnings results on Wednesday, August 7th. The company reported $0.89 EPS for the quarter, beating analysts’ consensus estimates of $0.77 by $0.12. The business had revenue of $1.08 billion during the quarter, compared to analysts’ expectations of $1.08 billion. AppLovin had a net margin of 20.89% and a return on equity of 84.16%. The firm’s revenue was up 44.0% on a year-over-year basis. During the same period in the prior year, the company earned $0.22 earnings per share. On average, research analysts expect that AppLovin will post 3.46 earnings per share for the current year.

Insiders Place Their Bets

In other AppLovin news, CFO Matthew Stumpf sold 60,615 shares of AppLovin stock in a transaction on Tuesday, August 13th. The shares were sold at an average price of $79.63, for a total value of $4,826,772.45. Following the completion of the transaction, the chief financial officer now directly owns 254,458 shares of the company’s stock, valued at $20,262,490.54. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. In related news, Director Dawson Alyssa Harvey sold 1,500 shares of AppLovin stock in a transaction dated Tuesday, September 10th. The shares were sold at an average price of $87.90, for a total transaction of $131,850.00. Following the completion of the transaction, the director now directly owns 10,247 shares of the company’s stock, valued at approximately $900,711.30. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Matthew Stumpf sold 60,615 shares of AppLovin stock in a transaction dated Tuesday, August 13th. The stock was sold at an average price of $79.63, for a total transaction of $4,826,772.45. Following the transaction, the chief financial officer now directly owns 254,458 shares of the company’s stock, valued at approximately $20,262,490.54. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 610,094 shares of company stock valued at $51,022,478 in the last three months. Corporate insiders own 14.69% of the company’s stock.

Hedge Funds Weigh In On AppLovin

A number of large investors have recently made changes to their positions in APP. Lone Pine Capital LLC boosted its position in AppLovin by 7.2% in the 2nd quarter. Lone Pine Capital LLC now owns 5,702,438 shares of the company’s stock valued at $474,557,000 after buying an additional 382,767 shares during the period. Jericho Capital Asset Management L.P. boosted its position in AppLovin by 185.0% in the 1st quarter. Jericho Capital Asset Management L.P. now owns 3,890,567 shares of the company’s stock valued at $269,305,000 after buying an additional 2,525,240 shares during the period. Fred Alger Management LLC purchased a new stake in AppLovin in the 2nd quarter valued at about $290,655,000. Whale Rock Capital Management LLC purchased a new stake in AppLovin in the 1st quarter valued at about $195,129,000. Finally, 1832 Asset Management L.P. boosted its position in AppLovin by 977.2% in the 2nd quarter. 1832 Asset Management L.P. now owns 1,496,300 shares of the company’s stock valued at $124,522,000 after buying an additional 1,357,400 shares during the period. 41.85% of the stock is owned by hedge funds and other institutional investors.

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.