Analysts Set AppLovin Corporation (NASDAQ:APP) PT at $668.45

Shares of AppLovin Corporation (NASDAQ:APP) have earned an average recommendation of “Moderate Buy” from the twenty-four analysts that are currently covering the firm, MarketBeat reports. Five investment analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and two have given a strong buy rating to the company. The average 1 year target price among brokers that have updated their coverage on the stock in the last year is $668.4545.

Several research analysts have recently commented on the company. Weiss Ratings lowered AppLovin from a “hold (c+)” rating to a “hold (c)” rating in a report on Thursday. JPMorgan Chase & Co. raised their target price on shares of AppLovin from $500.00 to $515.00 and gave the company a “neutral” rating in a research note on Thursday, May 7th. UBS Group dropped their target price on shares of AppLovin from $740.00 to $716.00 and set a “buy” rating for the company in a research report on Thursday, May 7th. Citigroup reissued a “buy” rating on shares of AppLovin in a research note on Monday, June 22nd. Finally, Wells Fargo & Company increased their price target on shares of AppLovin from $571.00 to $575.00 and gave the stock an “overweight” rating in a report on Tuesday, July 7th.

Insider Buying and Selling

In related news, CFO Matthew Stumpf sold 9,052 shares of the company’s stock in a transaction on Thursday, May 28th. The shares were sold at an average price of $600.00, for a total value of $5,431,200.00. Following the completion of the transaction, the chief financial officer directly owned 177,450 shares in the company, valued at approximately $106,470,000. The trade was a 4.85% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Victoria Valenzuela sold 20,000 shares of the firm’s stock in a transaction dated Thursday, June 4th. The shares were sold at an average price of $565.89, for a total value of $11,317,800.00. Following the sale, the insider owned 243,961 shares in the company, valued at $138,055,090.29. The trade was a 7.58% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 393,000 shares of company stock valued at $197,297,363 in the last three months. 12.81% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On AppLovin

A number of large investors have recently modified their holdings of the company. Cassaday & Co Wealth Management LLC purchased a new stake in AppLovin in the first quarter worth approximately $25,000. Washington Trust Advisors Inc. raised its stake in shares of AppLovin by 160.0% during the fourth quarter. Washington Trust Advisors Inc. now owns 39 shares of the company’s stock worth $27,000 after acquiring an additional 24 shares in the last quarter. Mcguire Capital Advisors Inc. bought a new stake in shares of AppLovin in the 4th quarter worth approximately $27,000. Laurel Wealth Advisors LLC bought a new stake in shares of AppLovin in the 4th quarter worth approximately $32,000. Finally, First Pacific Financial purchased a new stake in shares of AppLovin in the 1st quarter valued at $33,000. 41.85% of the stock is owned by hedge funds and other institutional investors.

AppLovin Price Performance

NASDAQ:APP opened at $412.73 on Thursday. The firm has a market capitalization of $138.65 billion, a price-to-earnings ratio of 35.46, a P/E/G ratio of 0.64 and a beta of 2.49. AppLovin has a 52-week low of $358.55 and a 52-week high of $745.61. The stock has a fifty day moving average of $497.38 and a 200 day moving average of $477.57. 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 (NASDAQ:APP) last posted its earnings results on Wednesday, May 6th. The company reported $3.56 EPS for the quarter, topping 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 business had revenue of $1.84 billion during the quarter, compared to analysts’ expectations of $1.77 billion. During the same period in the previous year, the business earned $1.67 earnings per share. The firm’s revenue was up 58.9% on a year-over-year basis. On average, research analysts expect that AppLovin will post 15.93 EPS for the current fiscal year.

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.