AppLovin’s (APP) Outperform Rating Reiterated at Oppenheimer

AppLovin (NASDAQ:APP)‘s stock had its “outperform” rating reiterated by analysts at Oppenheimer in a research report issued on Thursday, Benzinga reports. They presently have a $520.00 price target on the stock, up from their prior price target of $490.00. Oppenheimer‘s price target indicates a potential upside of 49.92% from the company’s current price.

APP has been the subject of a number of other reports. Scotiabank reissued a “sector outperform” rating and issued a $450.00 price target on shares of AppLovin in a report on Thursday. Phillip Securities raised AppLovin from a “moderate buy” rating to a “strong-buy” rating and decreased their price objective for the company from $635.00 to $610.00 in a research note on Tuesday, August 11th. Needham & Company LLC reaffirmed a “buy” rating and set a $475.00 price objective on shares of AppLovin in a research note on Thursday. BTIG Research lifted their price objective on AppLovin from $396.00 to $450.00 and gave the stock a “buy” rating in a research report on Thursday. Finally, HSBC cut their target price on shares of AppLovin from $450.00 to $409.00 and set a “buy” rating for the company in a research note on Monday, October 5th. Three analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating and eight have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $496.43.

AppLovin Price Performance

Shares of APP traded up $75.11 during mid-day trading on Thursday, reaching $346.86. 15,409,294 shares of the company’s stock were exchanged, compared to its average volume of 5,560,123. The company has a quick ratio of 4.30, a current ratio of 4.30 and a debt-to-equity ratio of 1.11. The company has a 50-day simple moving average of $290.82 and a two-hundred day simple moving average of $411.84. AppLovin has a 52-week low of $225.19 and a 52-week high of $738.01. The company has a market cap of $116.08 billion, a price-to-earnings ratio of 26.63, a PEG ratio of 0.55 and a beta of 2.51.

AppLovin (NASDAQ:APP) last posted its earnings results on Wednesday, November 4th. The company reported $4.30 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.03 by $0.27. The firm had revenue of $2.18 billion for the quarter, compared to analyst estimates of $2.07 billion. AppLovin had a return on equity of 193.10% and a net margin of 64.58%. AppLovin’s revenue was up 55.5% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.45 EPS. On average, sell-side analysts predict that AppLovin will post 15.61 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in APP. State Street Corp increased its stake in AppLovin by 28.3% in the second quarter. State Street Corp now owns 15,095,667 shares of the company’s stock valued at $7,777,741,000 after purchasing an additional 3,328,338 shares during the last quarter. WCM Investment Management LLC lifted its position in AppLovin by 5.2% during the first quarter. WCM Investment Management LLC now owns 5,001,600 shares of the company’s stock worth $1,860,995,000 after buying an additional 245,290 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in AppLovin by 7.5% in the 2nd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,735,471 shares of the company’s stock worth $894,167,000 after buying an additional 121,605 shares during the last quarter. Bank of New York Mellon Corp acquired a new stake in AppLovin in the 2nd quarter worth about $730,015,000. Finally, Amundi grew its holdings in AppLovin by 19.5% in the 2nd quarter. Amundi now owns 1,332,633 shares of the company’s stock valued at $686,612,000 after buying an additional 217,214 shares during the period. Hedge funds and other institutional investors own 41.85% of the company’s stock.

More AppLovin News

Here are the key news stories impacting AppLovin this week:

• Positive Sentiment: AppLovin reported Q3 revenue of $2.18 billion, up 55.5% year over year, and earnings of $4.30 per share—both ahead of analyst expectations. Net income rose 72% to about $1.44 billion. Article: AppLovin delivers strong Q3 numbers
• Positive Sentiment: Management forecast Q4 revenue of $2.365 billion to $2.395 billion, above analysts’ estimates, and expanded its share repurchase authorization to $3.6 billion. The outlook and buyback reinforce confidence in growth and cash generation. Article: AppLovin Q3 earnings call highlights
• Positive Sentiment: Analysts responded with price-target increases: BTIG raised its target to $450 and Needham reaffirmed Buy with a $475 target. Article: Analysts revise forecasts after Q3
• Negative Sentiment: A securities class action alleges AppLovin made misleading statements about progress on its AI models and the readiness of its generative-AI video tool. The lawsuit adds legal and reputational risk, though the allegations are not proven. Article: AppLovin securities class action notice

AppLovin Company Profile

AppLovin Corporation is a technology company that provides software and services designed to help mobile application developers grow, monetize and operate their businesses. Its platform supports user acquisition, advertising, mediation, analytics and other functions across the mobile app ecosystem.

The company’s principal products include AppDiscovery, which helps developers market their applications and acquire users; MAX, an in-app bidding and monetization platform; and its AXON technology, an artificial intelligence-powered engine intended to improve advertising performance and match users with relevant applications and content.