Daiwa Capital Markets Begins Coverage on AppLovin (NASDAQ:APP)

Equities research analysts at Daiwa Capital Markets started coverage on shares of AppLovin (NASDAQ:APP) in a research note issued on Monday, MarketBeat.com reports. The brokerage set a “neutral” rating and a $80.00 price target on the stock. Daiwa Capital Markets’ price objective would indicate a potential upside of 10.62% from the stock’s previous close.

APP has been the subject of several other research reports. Wedbush upped their price objective on shares of AppLovin from $67.00 to $87.00 and gave the stock an “outperform” rating in a research report on Thursday, April 11th. BTIG Research upped their price objective on AppLovin from $65.00 to $87.00 and gave the stock a “buy” rating in a research report on Tuesday, April 9th. Oppenheimer boosted their target price on AppLovin from $70.00 to $85.00 and gave the stock an “outperform” rating in a research note on Monday, April 8th. The Goldman Sachs Group lifted their price target on shares of AppLovin from $59.00 to $73.00 and gave the company a “buy” rating in a report on Thursday, February 15th. Finally, UBS Group upped their price target on shares of AppLovin from $46.00 to $55.00 and gave the stock a “neutral” rating in a report on Thursday, February 15th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and twelve have assigned a buy rating to the company’s stock. Based on data from MarketBeat, AppLovin currently has a consensus rating of “Moderate Buy” and a consensus target price of $59.31.

AppLovin Stock Up 1.2 %

APP stock opened at $72.32 on Monday. The company has a market cap of $24.73 billion, a price-to-earnings ratio of 72.32, a P/E/G ratio of 1.53 and a beta of 1.90. AppLovin has a twelve month low of $15.41 and a twelve month high of $79.55. The business has a 50 day moving average price of $63.94 and a two-hundred day moving average price of $48.44. The company has a quick ratio of 1.71, a current ratio of 1.71 and a debt-to-equity ratio of 2.31.

AppLovin (NASDAQ:APP) last issued its quarterly earnings data on Wednesday, February 14th. The company reported $0.49 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.35 by $0.14. The firm had revenue of $953.26 million during the quarter, compared to the consensus estimate of $928.66 million. AppLovin had a net margin of 10.84% and a return on equity of 24.69%. The business’s revenue for the quarter was up 35.7% compared to the same quarter last year. During the same period last year, the business posted ($0.21) earnings per share. Analysts anticipate that AppLovin will post 2.47 EPS for the current fiscal year.

Insider Buying and Selling at AppLovin

In related news, insider Victoria Valenzuela sold 50,000 shares of AppLovin stock in a transaction dated Thursday, April 4th. The stock was sold at an average price of $75.01, for a total value of $3,750,500.00. Following the completion of the sale, the insider now directly owns 471,560 shares in the company, valued at approximately $35,371,715.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In related news, Director Craig Scott Billings sold 5,550 shares of the stock in a transaction dated Tuesday, February 20th. The stock was sold at an average price of $58.33, for a total transaction of $323,731.50. Following the completion of the sale, the director now owns 12,739 shares in the company, valued at $743,065.87. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Victoria Valenzuela sold 50,000 shares of AppLovin stock in a transaction that occurred on Thursday, April 4th. The shares were sold at an average price of $75.01, for a total transaction of $3,750,500.00. Following the sale, the insider now owns 471,560 shares in the company, valued at approximately $35,371,715.60. The disclosure for this sale can be found here. In the last ninety days, insiders sold 61,215 shares of company stock worth $4,416,815. 12.43% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On AppLovin

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. JPMorgan Chase & Co. boosted its stake in shares of AppLovin by 99.0% during the 1st quarter. JPMorgan Chase & Co. now owns 981 shares of the company’s stock worth $54,000 after purchasing an additional 488 shares during the period. Raymond James & Associates grew its stake in AppLovin by 109.0% in the first quarter. Raymond James & Associates now owns 57,743 shares of the company’s stock worth $3,180,000 after purchasing an additional 30,112 shares in the last quarter. Bank of New York Mellon Corp increased its holdings in AppLovin by 21.6% during the 1st quarter. Bank of New York Mellon Corp now owns 39,124 shares of the company’s stock worth $2,155,000 after purchasing an additional 6,942 shares during the period. Cambridge Investment Research Advisors Inc. grew its position in shares of AppLovin by 43.5% during the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 9,425 shares of the company’s stock worth $519,000 after buying an additional 2,858 shares in the last quarter. Finally, Citigroup Inc. increased its stake in shares of AppLovin by 802.0% during the first quarter. Citigroup Inc. now owns 22,749 shares of the company’s stock valued at $1,253,000 after buying an additional 20,227 shares during the period. 41.85% of the stock is owned by institutional investors.

About AppLovin

AppLovin Corporation engages in building a software-based platform for advertisers to enhance the marketing and monetization of their content in the United States and internationally. It operates through two segments, Software Platform and Apps. The company's software solutions include AppDiscovery, a marketing software solution, which matches advertiser demand with publisher supply through auctions; MAX, an in-app bidding software that optimizes the value of a publisher's advertising inventory by running a real-time competitive auction; Adjust, a measurement and analytics marketing platform that provides marketers with the visibility, insights, and tools needed to grow their apps from early stage to maturity; and Wurl, a connected TV platform, which distributes streaming video for content companies and provides advertising and publishing solutions through its AdPool, ContentDiscovery, and Global FAST Pass products.