AppLovin (NASDAQ:APP) Coverage Initiated at Jefferies Financial Group

Jefferies Financial Group began coverage on shares of AppLovin (NASDAQ:APP) in a research note issued to investors on Thursday, MarketBeat Ratings reports. The firm issued a buy rating and a $93.00 target price on the stock.

APP has been the subject of several other research reports. TheStreet upgraded AppLovin from a d+ rating to a c- rating in a research note on Friday, March 8th. BTIG Research upped their target price on AppLovin from $65.00 to $87.00 and gave the stock a buy rating in a research note on Tuesday, April 9th. Daiwa Capital Markets initiated coverage on shares of AppLovin in a research note on Monday, April 15th. They issued a neutral rating and a $80.00 price target on the stock. 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. Finally, UBS Group lifted their target price on shares of AppLovin from $46.00 to $55.00 and gave the company a neutral rating in a research report on Thursday, February 15th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and twelve have assigned a buy rating to the company. According to data from MarketBeat, AppLovin has a consensus rating of Moderate Buy and an average price target of $63.60.

AppLovin Stock Performance

Shares of NASDAQ APP opened at $75.07 on Thursday. The company has a 50 day simple moving average of $68.59 and a two-hundred day simple moving average of $51.27. The stock has a market cap of $25.67 billion, a price-to-earnings ratio of 75.07, a PEG ratio of 1.49 and a beta of 1.85. The company has a current ratio of 1.71, a quick ratio of 1.71 and a debt-to-equity ratio of 2.31. AppLovin has a 12 month low of $16.56 and a 12 month high of $79.55.

AppLovin (NASDAQ:APP) last posted its earnings results on Wednesday, February 14th. The company reported $0.49 EPS for the quarter, topping the consensus estimate of $0.35 by $0.14. AppLovin had a return on equity of 24.69% and a net margin of 10.84%. The firm had revenue of $953.26 million for the quarter, compared to analyst estimates of $928.66 million. During the same period last year, the company earned ($0.21) earnings per share. AppLovin’s revenue for the quarter was up 35.7% compared to the same quarter last year. As a group, analysts predict that AppLovin will post 2.54 earnings per share for the current year.

Insider Activity

In other news, insider Victoria Valenzuela sold 2,890 shares of the company’s stock in a transaction on Thursday, February 22nd. The stock was sold at an average price of $57.76, for a total value of $166,926.40. Following the transaction, the insider now owns 546,560 shares of the company’s stock, valued at approximately $31,569,305.60. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In other AppLovin news, insider Victoria Valenzuela sold 2,890 shares of the stock in a transaction dated Thursday, February 22nd. The shares were sold at an average price of $57.76, for a total transaction of $166,926.40. Following the completion of the transaction, the insider now owns 546,560 shares of the company’s stock, valued at $31,569,305.60. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Craig Scott Billings sold 5,550 shares of the business’s stock in a transaction that occurred on Tuesday, February 20th. The shares were 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 directly owns 12,739 shares in the company, valued at $743,065.87. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 61,215 shares of company stock valued at $4,416,815. 12.43% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in APP. FinTrust Capital Advisors LLC acquired a new position in shares of AppLovin in the fourth quarter valued at approximately $32,000. BluePath Capital Management LLC acquired a new position in shares of AppLovin in the third quarter worth $33,000. Castleview Partners LLC purchased a new stake in shares of AppLovin during the third quarter worth $38,000. Atlas Capital Advisors LLC acquired a new stake in shares of AppLovin in the first quarter valued at $38,000. Finally, Cullen Frost Bankers Inc. purchased a new position in AppLovin in the third quarter valued at $44,000. 41.85% of the stock is currently owned by institutional investors and hedge funds.

AppLovin Company Profile

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.