AppLovin (NASDAQ:APP) Earns “Hold” Rating from Needham & Company LLC

AppLovin (NASDAQ:APP)‘s stock had its “hold” rating reaffirmed by investment analysts at Needham & Company LLC in a report issued on Monday,Benzinga reports.

A number of other equities research analysts also recently commented on the stock. Citigroup lifted their price target on shares of AppLovin from $460.00 to $600.00 and gave the stock a “buy” rating in a report on Wednesday, February 19th. Loop Capital lifted their target price on shares of AppLovin from $450.00 to $650.00 and gave the stock a “buy” rating in a research note on Thursday, February 20th. Wells Fargo & Company set a $538.00 price target on AppLovin and gave the stock an “overweight” rating in a research note on Thursday, February 27th. Benchmark lifted their price objective on AppLovin from $375.00 to $525.00 and gave the company a “buy” rating in a research report on Thursday, February 13th. Finally, JPMorgan Chase & Co. increased their target price on AppLovin from $325.00 to $475.00 and gave the stock a “neutral” rating in a research report on Thursday, February 13th. One analyst has rated the stock with a sell rating, four have given a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $438.28.

AppLovin Price Performance

APP stock opened at $292.89 on Monday. The stock’s 50 day moving average price is $357.00 and its 200 day moving average price is $269.20. The firm has a market cap of $99.57 billion, a P/E ratio of 64.51, a PEG ratio of 3.02 and a beta of 2.33. The company has a debt-to-equity ratio of 3.70, a quick ratio of 2.41 and a current ratio of 2.41. AppLovin has a 1 year low of $60.67 and a 1 year high of $525.15.

AppLovin (NASDAQ:APP) last issued its quarterly earnings data on Wednesday, February 12th. The company reported $1.73 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.12 by $0.61. AppLovin had a return on equity of 188.55% and a net margin of 33.54%. On average, sell-side analysts expect that AppLovin will post 6.87 earnings per share for the current fiscal year.

Insider Activity at AppLovin

In other news, insider Victoria Valenzuela sold 15,971 shares of the business’s stock in a transaction on Thursday, December 19th. The shares were 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 approximately $116,526,219.35. The trade was a 4.11 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Arash Adam Foroughi sold 45,000 shares of the firm’s stock in a transaction on Friday, February 21st. The shares were sold at an average price of $422.21, for a total transaction of $18,999,450.00. Following the sale, the chief executive officer now directly owns 2,914,492 shares of the company’s stock, valued at approximately $1,230,527,667.32. The trade was a 1.52 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 322,871 shares of company stock worth $111,401,882. 14.69% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On AppLovin

A number of institutional investors have recently added to or reduced their stakes in APP. Atria Investments Inc purchased a new stake in shares of AppLovin during the third quarter worth about $574,000. Crossmark Global Holdings Inc. acquired a new stake in AppLovin during the 3rd quarter valued at approximately $289,000. Metis Global Partners LLC purchased a new stake in AppLovin during the 3rd quarter worth approximately $341,000. OneDigital Investment Advisors LLC acquired a new position in shares of AppLovin in the 3rd quarter valued at approximately $336,000. Finally, CIBC Asset Management Inc boosted its stake in shares of AppLovin by 3.6% during the 3rd quarter. CIBC Asset Management Inc now owns 7,777 shares of the company’s stock valued at $1,015,000 after buying an additional 267 shares during the last quarter. Institutional investors and hedge funds own 41.85% of the company’s stock.

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.