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

AppLovin Corporation (NASDAQ:APP) has earned a consensus rating of “Moderate Buy” from the twenty-four ratings firms that are presently covering the firm, MarketBeat reports. One analyst has rated the stock with a sell rating, four have issued a hold rating and nineteen have assigned a buy rating to the company. The average 1 year price objective among brokers that have covered the stock in the last year is $692.60.

Several equities analysts recently issued reports on the company. Bank of America raised their price target on AppLovin from $580.00 to $860.00 and gave the company a “buy” rating in a report on Wednesday, October 1st. Benchmark upped their target price on AppLovin from $700.00 to $775.00 and gave the stock a “buy” rating in a report on Thursday, December 11th. Needham & Company LLC restated a “hold” rating on shares of AppLovin in a research note on Tuesday, August 26th. JPMorgan Chase & Co. increased their target price on AppLovin from $425.00 to $650.00 and gave the stock a “neutral” rating in a report on Thursday, November 6th. Finally, Wedbush increased their target price on shares of AppLovin from $745.00 to $800.00 and gave the stock an “outperform” rating in a report on Thursday, November 6th.

AppLovin Price Performance

Shares of NASDAQ:APP opened at $672.91 on Wednesday. The business has a 50 day moving average price of $611.64 and a 200 day moving average price of $506.66. The company has a market cap of $227.41 billion, a price-to-earnings ratio of 81.98, a PEG ratio of 3.62 and a beta of 2.51. The company has a quick ratio of 3.25, a current ratio of 3.25 and a debt-to-equity ratio of 2.38. AppLovin has a twelve month low of $200.50 and a twelve month high of $745.61.

AppLovin (NASDAQ:APP) last posted its quarterly earnings results on Wednesday, November 5th. The company reported $2.45 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.34 by $0.11. AppLovin had a net margin of 51.27% and a return on equity of 258.49%. The firm had revenue of $1.41 billion during the quarter, compared to analyst estimates of $1.34 billion. During the same quarter in the prior year, the business posted $1.29 earnings per share. The company’s quarterly revenue was up 68.2% compared to the same quarter last year. Research analysts predict that AppLovin will post 6.87 earnings per share for the current year.

Insider Buying and Selling at AppLovin

In other news, CEO Arash Adam Foroughi sold 30,888 shares of AppLovin stock in a transaction on Friday, November 21st. The shares were sold at an average price of $520.29, for a total transaction of $16,070,717.52. Following the transaction, the chief executive officer owned 2,553,161 shares in the company, valued at approximately $1,328,384,136.69. The trade was a 1.20% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Eduardo Vivas sold 150,000 shares of the firm’s stock in a transaction on Monday, November 10th. The stock was sold at an average price of $650.91, for a total value of $97,636,500.00. Following the transaction, the director directly owned 7,133,292 shares of the company’s stock, valued at approximately $4,643,131,095.72. This represents a 2.06% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders sold 332,727 shares of company stock worth $195,062,520. 13.66% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On AppLovin

Large investors have recently added to or reduced their stakes in the business. Chilton Capital Management LLC bought a new position in AppLovin in the 3rd quarter worth $29,000. Activest Wealth Management lifted its holdings in AppLovin by 760.0% in the 3rd quarter. Activest Wealth Management now owns 43 shares of the company’s stock worth $31,000 after purchasing an additional 38 shares in the last quarter. Heartwood Wealth Advisors LLC bought a new position in shares of AppLovin during the 3rd quarter valued at approximately $33,000. CBIZ Investment Advisory Services LLC boosted its stake in AppLovin by 58.6% during the third quarter. CBIZ Investment Advisory Services LLC now owns 46 shares of the company’s stock worth $33,000 after buying an additional 17 shares during the period. Finally, Bogart Wealth LLC boosted its stake in shares of AppLovin by 100.0% during the third quarter. Bogart Wealth LLC now owns 48 shares of the company’s stock valued at $34,000 after purchasing an additional 24 shares during the period. Institutional investors own 41.85% of the company’s stock.

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.