AppLovin (NASDAQ:APP) Shares Up 2.2% – Should You Buy?

Shares of AppLovin Co. (NASDAQ:APP) shot up 2.2% on Monday . The stock traded as high as $362.45 and last traded at $358.39. 1,509,928 shares changed hands during trading, a decline of 57% from the average session volume of 3,516,944 shares. The stock had previously closed at $350.65.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on APP. JPMorgan Chase & Co. upped their target price on AppLovin from $160.00 to $200.00 and gave the stock a “neutral” rating in a research note on Thursday, November 7th. Wedbush reaffirmed an “outperform” rating and set a $270.00 target price (up from $170.00) on shares of AppLovin in a research note on Thursday, November 7th. Piper Sandler began coverage on AppLovin in a research note on Wednesday, November 20th. They set an “overweight” rating and a $400.00 target price for the company. Needham & Company LLC reaffirmed a “hold” rating on shares of AppLovin in a research note on Thursday, November 7th. Finally, BTIG Research upped their target price on AppLovin from $202.00 to $291.00 and gave the stock a “buy” rating in a research note on Thursday, November 7th. One analyst has rated the stock with a sell rating, four have given a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, AppLovin has a consensus rating of “Moderate Buy” and a consensus price target of $310.71.

AppLovin Trading Up 0.3 %

The firm has a market capitalization of $118.05 billion, a PE ratio of 106.60, a PEG ratio of 4.17 and a beta of 2.28. The company has a current ratio of 2.41, a quick ratio of 2.41 and a debt-to-equity ratio of 3.70. The business has a fifty day moving average price of $302.03 and a two-hundred day moving average price of $172.24.

AppLovin (NASDAQ:APP) last released its quarterly earnings results on Wednesday, November 6th. The company reported $1.25 earnings per share for the quarter, topping analysts’ consensus estimates of $0.92 by $0.33. AppLovin had a return on equity of 122.24% and a net margin of 26.85%. The business had revenue of $1.20 billion during the quarter, compared to analysts’ expectations of $1.13 billion. During the same period in the prior year, the business posted $0.30 EPS. The company’s revenue was up 38.6% compared to the same quarter last year. Analysts expect that AppLovin Co. will post 4.06 EPS for the current fiscal year.

Insider Activity at AppLovin

In other AppLovin news, Director Dawson Alyssa Harvey sold 500 shares of the stock in a transaction dated Friday, December 6th. The stock was sold at an average price of $406.27, for a total value of $203,135.00. Following the sale, the director now owns 6,684 shares of the company’s stock, valued at $2,715,508.68. This trade represents a 6.96 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CMO Katie Kihorany Jansen sold 59,876 shares of the stock in a transaction dated Tuesday, November 12th. The shares were sold at an average price of $286.14, for a total value of $17,132,918.64. Following the completion of the sale, the chief marketing officer now directly owns 1,017,388 shares in the company, valued at $291,115,402.32. This represents a 5.56 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 888,867 shares of company stock worth $284,773,062 in the last three months. 14.69% of the stock is owned by company insiders.

Institutional Investors Weigh In On AppLovin

A number of hedge funds have recently bought and sold shares of the stock. National Bank of Canada FI raised its position in AppLovin by 4.0% in the 3rd quarter. National Bank of Canada FI now owns 1,003 shares of the company’s stock valued at $131,000 after purchasing an additional 39 shares in the last quarter. Versant Capital Management Inc raised its position in shares of AppLovin by 19.7% during the 4th quarter. Versant Capital Management Inc now owns 322 shares of the company’s stock worth $104,000 after acquiring an additional 53 shares in the last quarter. Great Valley Advisor Group Inc. raised its position in shares of AppLovin by 2.2% during the 3rd quarter. Great Valley Advisor Group Inc. now owns 2,837 shares of the company’s stock worth $370,000 after acquiring an additional 60 shares in the last quarter. HM Payson & Co. raised its position in shares of AppLovin by 50.0% during the 3rd quarter. HM Payson & Co. now owns 300 shares of the company’s stock worth $39,000 after acquiring an additional 100 shares in the last quarter. Finally, Aptus Capital Advisors LLC increased its position in AppLovin by 0.3% during the third quarter. Aptus Capital Advisors LLC now owns 33,478 shares of the company’s stock worth $4,371,000 after buying an additional 104 shares during the period. 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.