AppLovin Corporation (NASDAQ:APP) Given Consensus Recommendation of “Moderate Buy” by Analysts

Shares of AppLovin Corporation (NASDAQ:APP) have been assigned a consensus recommendation of “Moderate Buy” from the twenty-four research firms that are currently covering the firm, Marketbeat.com reports. Five investment analysts have rated the stock with a hold rating, eighteen have issued a buy rating and one has given a strong buy rating to the company. The average 12-month price objective among brokers that have issued a report on the stock in the last year is $661.9524.

APP has been the subject of several research analyst reports. Scotiabank upped their price objective on AppLovin from $750.00 to $775.00 and gave the company an “outperform” rating in a report on Thursday, February 12th. BTIG Research cut their price objective on AppLovin from $771.00 to $640.00 and set a “buy” rating for the company in a report on Thursday, February 12th. Piper Sandler restated an “overweight” rating and issued a $650.00 price objective (down from $800.00) on shares of AppLovin in a report on Thursday, February 12th. The Goldman Sachs Group cut their price objective on AppLovin from $710.00 to $585.00 and set a “neutral” rating for the company in a report on Thursday, February 12th. Finally, Oppenheimer cut their price objective on AppLovin from $740.00 to $660.00 and set an “outperform” rating for the company in a report on Thursday, March 5th.

AppLovin Price Performance

Shares of AppLovin stock traded down $4.20 during trading on Tuesday, hitting $486.76. The stock had a trading volume of 457,901 shares, compared to its average volume of 5,777,687. The company has a debt-to-equity ratio of 1.65, a current ratio of 3.32 and a quick ratio of 3.32. The firm has a market cap of $164.17 billion, a P/E ratio of 50.22, a PEG ratio of 0.83 and a beta of 2.50. The business has a fifty day moving average of $430.05 and a two-hundred day moving average of $544.12. AppLovin has a fifty-two week low of $227.05 and a fifty-two week high of $745.61.

AppLovin (NASDAQ:APP) last announced its quarterly earnings data 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 business had revenue of $1.66 billion during the quarter, compared to analyst estimates of $1.61 billion. AppLovin had a return on equity of 245.64% and a net margin of 57.42%.The company’s revenue was up 66.0% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.73 earnings per share. On average, sell-side analysts expect that AppLovin will post 15.72 earnings per share for the current fiscal year.

Insider Transactions at AppLovin

In other news, CEO Arash Adam Foroughi sold 40,704 shares of the business’s stock in a transaction on Thursday, March 12th. The stock was sold at an average price of $459.85, for a total transaction of $18,717,734.40. Following the sale, the chief executive officer directly owned 2,430,414 shares of the company’s stock, valued at $1,117,625,877.90. The trade was a 1.65% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CTO Vasily Shikin sold 5,231 shares of the business’s stock in a transaction on Tuesday, March 10th. The stock was sold at an average price of $477.47, for a total value of $2,497,645.57. Following the sale, the chief technology officer directly owned 30,658 shares in the company, valued at $14,638,275.26. This trade represents a 14.58% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 365,244 shares of company stock valued at $169,584,607 over the last three months. Company insiders own 13.66% of the company’s stock.

Institutional Investors Weigh In On AppLovin

Institutional investors and hedge funds have recently modified their holdings of the stock. Vanguard Group Inc. raised its position in AppLovin by 0.7% during the fourth quarter. Vanguard Group Inc. now owns 25,120,575 shares of the company’s stock valued at $16,926,746,000 after buying an additional 166,117 shares during the period. State Street Corp raised its position in AppLovin by 0.4% during the fourth quarter. State Street Corp now owns 11,904,843 shares of the company’s stock valued at $8,021,721,000 after buying an additional 52,377 shares during the period. Geode Capital Management LLC raised its position in AppLovin by 6.7% during 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 buying an additional 448,005 shares during the period. Price T Rowe Associates Inc. MD raised its position in 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 buying an additional 212,349 shares during the period. Finally, Morgan Stanley raised its position in AppLovin by 10.7% during the fourth quarter. Morgan Stanley now owns 5,561,646 shares of the company’s stock valued at $3,747,551,000 after buying an additional 538,806 shares during the period. 41.85% of the stock is owned by institutional investors and hedge funds.

AppLovin Company Profile

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.