Analysts Set AppLovin Corporation (NASDAQ:APP) PT at $651.77

Shares of AppLovin Corporation (NASDAQ:APP) have received a consensus rating of “Moderate Buy” from the twenty-five brokerages that are currently covering the company, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell rating, three have given a hold rating and twenty-one have given a buy rating to the company. The average 1-year target price among analysts that have issued ratings on the stock in the last year is $651.7727.

A number of research analysts recently weighed in on APP shares. Wedbush upped their price target on AppLovin from $465.00 to $640.00 and gave the stock an “outperform” rating in a research note on Thursday, February 12th. Royal Bank Of Canada reaffirmed an “outperform” rating and set a $700.00 target price on shares of AppLovin in a research report on Thursday, February 12th. Morgan Stanley set a $720.00 price target on shares of AppLovin in a research report on Thursday, February 12th. The Goldman Sachs Group decreased their price target on shares of AppLovin from $710.00 to $585.00 and set a “neutral” rating for the company in a research note on Thursday, February 12th. Finally, Evercore reaffirmed a “buy” rating on shares of AppLovin in a research note on Friday, January 30th.

AppLovin Stock Performance

Shares of APP stock opened at $421.60 on Monday. The company has a quick ratio of 3.32, a current ratio of 3.32 and a debt-to-equity ratio of 1.65. AppLovin has a 52 week low of $200.50 and a 52 week high of $745.61. The firm has a 50 day moving average of $550.18 and a 200-day moving average of $571.84. The company has a market cap of $142.48 billion, a price-to-earnings ratio of 43.24, a price-to-earnings-growth ratio of 0.81 and a beta of 2.49.

AppLovin (NASDAQ:APP) last posted its quarterly earnings results on Wednesday, February 11th. The company reported $3.24 earnings per share for the quarter, beating the consensus estimate of $2.89 by $0.35. The firm had revenue of $1.66 billion during the quarter, compared to the consensus estimate of $1.61 billion. AppLovin had a net margin of 57.42% and a return on equity of 245.64%. The business’s revenue was up 66.0% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.73 earnings per share. On average, equities analysts forecast that AppLovin will post 6.87 earnings per share for the current year.

Insider Activity

In related news, Director Dawson Alyssa Harvey sold 150 shares of AppLovin stock in a transaction that occurred on Monday, December 8th. The stock was sold at an average price of $693.32, for a total transaction of $103,998.00. Following the transaction, the director owned 2,829 shares of the company’s stock, valued at $1,961,402.28. The trade was a 5.04% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Victoria Valenzuela sold 7,609 shares of the stock in a transaction on Thursday, December 18th. The shares were sold at an average price of $657.13, for a total value of $5,000,102.17. Following the completion of the sale, the insider directly owned 277,110 shares of the company’s stock, valued at $182,097,294.30. The trade was a 2.67% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 13.66% of the stock is currently owned by company insiders.

Institutional Trading of AppLovin

Several institutional investors have recently made changes to their positions in the company. Vanguard Group Inc. grew its position in AppLovin by 0.7% in the 4th quarter. Vanguard Group Inc. now owns 25,120,575 shares of the company’s stock worth $16,926,746,000 after purchasing an additional 166,117 shares in the last quarter. State Street Corp boosted its stake in shares of AppLovin by 0.4% in the 4th quarter. State Street Corp now owns 11,904,843 shares of the company’s stock worth $8,021,721,000 after buying an additional 52,377 shares during the last quarter. Geode Capital Management LLC grew its holdings in shares of AppLovin by 6.7% in the fourth quarter. Geode Capital Management LLC now owns 7,167,003 shares of the company’s stock valued at $4,817,269,000 after acquiring an additional 448,005 shares in the last quarter. Price T Rowe Associates Inc. MD increased its position in shares of AppLovin by 3.6% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 6,089,735 shares of the company’s stock valued at $4,103,386,000 after acquiring an additional 212,349 shares during the last quarter. Finally, Morgan Stanley lifted its holdings in AppLovin by 10.7% during the fourth quarter. Morgan Stanley now owns 5,561,646 shares of the company’s stock worth $3,747,551,000 after acquiring an additional 538,806 shares during the period. Institutional investors own 41.85% of the company’s stock.

About AppLovin

AppLovin Corporation is a Palo Alto–based mobile technology company that provides software and services to help app developers grow and monetize their businesses. The company operates a data-driven advertising and marketing platform that connects app publishers and advertisers, delivering tools for user acquisition, monetization, analytics and creative optimization. AppLovin’s technology is integrated into a broad set of mobile applications through software development kits (SDKs) and ad products designed to maximize revenue and engagement for developers.

Key components of AppLovin’s offering include an ad mediation and exchange platform that enables publishers to manage and monetize inventory across multiple demand sources, and a user-acquisition platform that helps advertisers target and scale campaigns.