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

AppLovin Corporation (NASDAQ:APP) has received a consensus rating of “Moderate Buy” from the twenty-three ratings firms that are covering the company, MarketBeat Ratings reports. Five investment analysts have rated the stock with a hold recommendation, seventeen have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12 month price target among brokerages that have issued ratings on the stock in the last year is $664.35.

Several brokerages recently commented on APP. Oppenheimer dropped their target price on AppLovin from $740.00 to $660.00 and set an “outperform” rating on the stock in a report on Thursday, March 5th. Wedbush reaffirmed an “outperform” rating and set a $640.00 target price on shares of AppLovin in a research note on Thursday, May 7th. Scotiabank lifted their target price on AppLovin from $750.00 to $775.00 and gave the stock an “outperform” rating in a report on Thursday, February 12th. Weiss Ratings cut shares of AppLovin from a “hold (c+)” rating to a “hold (c)” rating in a research report on Thursday, May 7th. Finally, Deutsche Bank Aktiengesellschaft reissued a “buy” rating and issued a $660.00 price target on shares of AppLovin in a report on Thursday, May 7th.

Insider Buying and Selling at AppLovin

In related news, Director Maynard G. Webb, Jr. sold 3,076 shares of the stock in a transaction that occurred on Friday, June 5th. The shares were sold at an average price of $582.04, for a total transaction of $1,790,355.04. Following the completion of the sale, the director directly owned 123,520 shares of the company’s stock, valued at $71,893,580.80. This represents a 2.43% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Arash Adam Foroughi sold 40,704 shares of the firm’s stock in a transaction that occurred 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 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 SEC filing for this sale provides additional information. Over the last quarter, insiders sold 467,092 shares of company stock valued at $220,268,340. Corporate insiders own 13.66% of the company’s stock.

Institutional Investors Weigh In On AppLovin

A number of institutional investors and hedge funds have recently modified their holdings of APP. Vanguard Group Inc. boosted its holdings in shares of AppLovin by 39.4% during the third quarter. Vanguard Group Inc. now owns 24,954,458 shares of the company’s stock worth $17,930,776,000 after purchasing an additional 7,051,663 shares during the period. State Street Corp increased its stake in AppLovin by 111.1% in the 3rd quarter. State Street Corp now owns 11,852,466 shares of the company’s stock valued at $8,516,471,000 after buying an additional 6,237,051 shares during the period. Corient Private Wealth LLC lifted its position in AppLovin by 3,118.6% in the 4th quarter. Corient Private Wealth LLC now owns 4,194,071 shares of the company’s stock worth $2,826,049,000 after buying an additional 4,063,763 shares in the last quarter. Norges Bank purchased a new stake in AppLovin in the 4th quarter worth approximately $2,040,321,000. Finally, Capital Research Global Investors acquired a new stake in shares of AppLovin during the 3rd quarter valued at $743,899,000. 41.85% of the stock is owned by institutional investors and hedge funds.

AppLovin Stock Performance

Shares of APP opened at $557.20 on Wednesday. The firm has a fifty day moving average of $470.43 and a 200-day moving average of $521.30. The company has a market cap of $187.19 billion, a price-to-earnings ratio of 47.87, a price-to-earnings-growth ratio of 0.91 and a beta of 2.45. The company has a debt-to-equity ratio of 1.49, a quick ratio of 3.24 and a current ratio of 3.24. AppLovin has a 1 year low of $320.00 and a 1 year high of $745.61.

AppLovin (NASDAQ:APP) last posted its earnings results on Wednesday, May 6th. The company reported $3.56 EPS for the quarter, beating the consensus estimate of $3.44 by $0.12. AppLovin had a return on equity of 219.37% and a net margin of 64.29%.The firm had revenue of $1.84 billion for the quarter, compared to analysts’ expectations of $1.77 billion. During the same period last year, the firm earned $1.67 EPS. The firm’s revenue was up 58.9% compared to the same quarter last year. As a group, equities analysts anticipate that AppLovin will post 15.86 earnings per share for the current year.

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.