AppLovin Corporation (NASDAQ:APP) Given Average Rating of “Moderate Buy” by Brokerages

AppLovin Corporation (NASDAQ:APP) has earned a consensus recommendation of “Moderate Buy” from the twenty-eight ratings firms that are covering the company, MarketBeat.com reports. One equities research analyst has rated the stock with a sell recommendation, five have issued a hold recommendation, twenty-one have given a buy recommendation and one has given a strong buy recommendation to the company. The average twelve-month target price among brokerages that have issued ratings on the stock in the last year is $605.1304.

A number of research firms have recently weighed in on APP. Deutsche Bank Aktiengesellschaft set a $705.00 price objective on AppLovin and gave the stock a “buy” rating in a research report on Wednesday. Morgan Stanley upped their price objective on AppLovin from $480.00 to $750.00 and gave the stock an “overweight” rating in a research report on Monday, September 29th. Benchmark upped their price objective on AppLovin from $525.00 to $640.00 and gave the stock a “buy” rating in a research report on Monday, September 15th. Piper Sandler upped their price objective on AppLovin from $500.00 to $740.00 and gave the stock an “overweight” rating in a research report on Friday, September 26th. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of AppLovin in a research report on Tuesday, August 26th.

AppLovin Stock Up 5.1%

NASDAQ:APP opened at $620.00 on Tuesday. The company has a quick ratio of 2.74, a current ratio of 2.74 and a debt-to-equity ratio of 3.01. The stock’s fifty day moving average is $569.09 and its two-hundred day moving average is $424.16. AppLovin has a 52 week low of $158.33 and a 52 week high of $745.61. The stock has a market capitalization of $209.72 billion, a price-to-earnings ratio of 88.07, a price-to-earnings-growth ratio of 3.37 and a beta of 2.53.

AppLovin (NASDAQ:APP) last posted its quarterly earnings data on Wednesday, August 6th. The company reported $2.26 earnings per share for the quarter, topping analysts’ consensus estimates of $2.05 by $0.21. AppLovin had a return on equity of 252.67% and a net margin of 45.72%.The business had revenue of $1.26 billion for the quarter, compared to analyst estimates of $1.37 billion. During the same quarter in the prior year, the company earned $0.89 earnings per share. The company’s revenue was up 77.1% on a year-over-year basis. Research analysts anticipate that AppLovin will post 6.87 EPS for the current year.

Insider Transactions at AppLovin

In related news, insider Victoria Valenzuela sold 35,000 shares of the stock in a transaction on Thursday, September 4th. The stock was sold at an average price of $502.23, for a total value of $17,578,050.00. Following the transaction, the insider owned 269,955 shares of the company’s stock, valued at $135,579,499.65. This represents a 11.48% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CEO Arash Adam Foroughi sold 90,000 shares of the stock in a transaction on Thursday, August 21st. The shares were sold at an average price of $421.04, for a total value of $37,893,600.00. Following the completion of the transaction, the chief executive officer directly owned 2,620,054 shares in the company, valued at $1,103,147,536.16. This trade represents a 3.32% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 1,156,788 shares of company stock valued at $514,863,333 over the last ninety days. Company insiders own 13.66% of the company’s stock.

Hedge Funds Weigh In On AppLovin

Several large investors have recently bought and sold shares of APP. Atala Financial Inc purchased a new position in AppLovin in the first quarter valued at $26,000. Hilltop National Bank purchased a new position in shares of AppLovin during the second quarter worth about $26,000. LFA Lugano Financial Advisors SA purchased a new position in shares of AppLovin during the second quarter worth about $26,000. Alpine Bank Wealth Management purchased a new position in shares of AppLovin during the first quarter worth about $27,000. Finally, Bartlett & CO. Wealth Management LLC purchased a new position in shares of AppLovin during the first quarter worth about $29,000. Hedge funds and other 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.