AppLovin (NASDAQ:APP) Stock Rating Upgraded by Daiwa America

AppLovin (NASDAQ:APP) was upgraded by analysts at Daiwa America from a “hold” rating to a “strong-buy” rating in a research report issued on Friday,Zacks.com reports.

APP has been the topic of several other research reports. Oppenheimer upped their price target on AppLovin from $180.00 to $260.00 and gave the company an “outperform” rating in a report on Thursday. The Goldman Sachs Group lowered AppLovin from a “buy” rating to a “neutral” rating and boosted their target price for the stock from $103.00 to $150.00 in a research report on Monday, October 14th. Loop Capital initiated coverage on AppLovin in a research note on Tuesday, October 22nd. They issued a “buy” rating and a $181.00 price target on the stock. Citigroup upped their price objective on shares of AppLovin from $155.00 to $185.00 and gave the company a “buy” rating in a research note on Tuesday, October 22nd. Finally, Macquarie lifted their target price on shares of AppLovin from $150.00 to $270.00 and gave the stock an “outperform” rating in a research report on Thursday. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, AppLovin has a consensus rating of “Moderate Buy” and an average target price of $182.31.

AppLovin Price Performance

NASDAQ:APP opened at $290.01 on Friday. The company has a quick ratio of 2.28, a current ratio of 2.28 and a debt-to-equity ratio of 4.27. The business’s 50-day moving average price is $135.33 and its 200 day moving average price is $99.54. AppLovin has a 52-week low of $35.79 and a 52-week high of $292.86. The firm has a market cap of $96.94 billion, a P/E ratio of 123.41, a PEG ratio of 2.29 and a beta of 1.86.

AppLovin (NASDAQ:APP) last announced its quarterly earnings data on Wednesday, August 7th. The company reported $0.89 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.77 by $0.12. AppLovin had a net margin of 20.89% and a return on equity of 84.16%. The company had revenue of $1.08 billion for the quarter, compared to analysts’ expectations of $1.08 billion. During the same quarter in the previous year, the company posted $0.22 EPS. The business’s revenue was up 44.0% compared to the same quarter last year. As a group, sell-side analysts predict that AppLovin will post 3.48 earnings per share for the current fiscal year.

Insider Buying and Selling

In other AppLovin news, insider Victoria Valenzuela sold 14,166 shares of the business’s stock in a transaction that occurred on Thursday, August 22nd. The shares were sold at an average price of $89.98, for a total value of $1,274,656.68. Following the completion of the sale, the insider now directly owns 352,616 shares of the company’s stock, valued at $31,728,387.68. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In related news, insider Victoria Valenzuela sold 14,166 shares of the company’s stock in a transaction on Thursday, August 22nd. The shares were sold at an average price of $89.98, for a total value of $1,274,656.68. Following the completion of the sale, the insider now directly owns 352,616 shares in the company, valued at approximately $31,728,387.68. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Dawson Alyssa Harvey sold 1,500 shares of the firm’s stock in a transaction dated Tuesday, September 10th. The shares were sold at an average price of $87.90, for a total value of $131,850.00. Following the transaction, the director now owns 10,247 shares in the company, valued at approximately $900,711.30. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 610,094 shares of company stock worth $51,022,478. Insiders own 14.69% of the company’s stock.

Institutional Investors Weigh In On AppLovin

Large investors have recently added to or reduced their stakes in the stock. WCM Investment Management LLC lifted its stake in shares of AppLovin by 10.5% in the third quarter. WCM Investment Management LLC now owns 10,820,409 shares of the company’s stock worth $1,382,307,000 after buying an additional 1,029,009 shares during the last quarter. Lone Pine Capital LLC lifted its position in AppLovin by 7.2% during the 2nd quarter. Lone Pine Capital LLC now owns 5,702,438 shares of the company’s stock worth $474,557,000 after acquiring an additional 382,767 shares during the last quarter. Jericho Capital Asset Management L.P. boosted its holdings in AppLovin by 185.0% during the first quarter. Jericho Capital Asset Management L.P. now owns 3,890,567 shares of the company’s stock valued at $269,305,000 after acquiring an additional 2,525,240 shares during the period. Fred Alger Management LLC acquired a new stake in shares of AppLovin in the second quarter valued at about $290,655,000. Finally, Whale Rock Capital Management LLC bought a new position in shares of AppLovin in the first quarter worth about $195,129,000. Institutional investors own 41.85% of the company’s stock.

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.