Wells Fargo & Company Issues Positive Forecast for AppLovin (NASDAQ:APP) Stock Price

AppLovin (NASDAQ:APP) had its price objective boosted by equities researchers at Wells Fargo & Company from $325.00 to $347.00 in a report released on Friday, Benzinga reports. The firm presently has an “equal weight” rating on the stock. Wells Fargo & Company‘s target price suggests a potential downside of 9.06% from the company’s previous close.

A number of other equities research analysts have also weighed in on the stock. Royal Bank Of Canada upped their target price on shares of AppLovin from $500.00 to $520.00 and gave the stock an “outperform” rating in a report on Thursday. William Blair set a $440.00 price target on AppLovin in a research note on Monday, August 17th. Daiwa Securities Group decreased their price objective on AppLovin from $569.00 to $345.00 and set an “outperform” rating for the company in a report on Wednesday, August 19th. Phillip Securities raised AppLovin from a “moderate buy” rating to a “strong-buy” rating and decreased their price objective for the stock from $635.00 to $610.00 in a report on Tuesday, August 11th. Finally, Scotiabank lowered their price objective on AppLovin from $515.00 to $450.00 and set a “sector outperform” rating for the company in a research note on Thursday. Three research analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and eight have given a Hold rating to the company’s stock. According to data from MarketBeat.com, AppLovin currently has a consensus rating of “Moderate Buy” and a consensus price target of $497.93.

AppLovin Stock Up 7.2%

APP stock traded up $25.47 during trading on Friday, reaching $381.57. 2,626,637 shares of the stock were exchanged, compared to its average volume of 5,577,015. The firm’s 50 day moving average is $291.78 and its 200 day moving average is $410.78. AppLovin has a twelve month low of $225.19 and a twelve month high of $738.01. The company has a current ratio of 4.30, a quick ratio of 4.30 and a debt-to-equity ratio of 1.11. The firm has a market cap of $127.69 billion, a P/E ratio of 25.46, a price-to-earnings-growth ratio of 0.60 and a beta of 2.51.

AppLovin (NASDAQ:APP) last released its quarterly earnings data on Wednesday, November 4th. The company reported $4.30 earnings per share 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 net margin of 65.89% and a return on equity of 196.31%. The business’s quarterly revenue was up 55.5% compared to the same quarter last year. During the same period last year, the firm earned $2.45 earnings per share. As a group, research analysts forecast that AppLovin will post 15.61 EPS for the current year.

Institutional Trading of AppLovin

Several institutional investors and hedge funds have recently made changes to their positions in APP. Cassaday & Co Wealth Management LLC bought a new stake in AppLovin in the 1st quarter worth about $25,000. Rachor Investment Advisory Services LLC bought a new position in shares of AppLovin during the 3rd quarter worth approximately $25,000. Pioneer Family Office LLC purchased a new position in shares of AppLovin in the 2nd quarter worth approximately $31,000. IMA Advisory Services Inc. boosted its stake in shares of AppLovin by 40.0% in the 1st quarter. IMA Advisory Services Inc. now owns 84 shares of the company’s stock worth $33,000 after buying an additional 24 shares during the last quarter. Finally, OFI Invest Asset Management grew its holdings in shares of AppLovin by 16.3% in the second quarter. OFI Invest Asset Management now owns 68,739 shares of the company’s stock valued at $35,000 after acquiring an additional 9,615 shares in the last quarter. Hedge funds and other institutional investors own 41.85% of the company’s stock.

Trending Headlines about AppLovin

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 EPS of $4.30, above analyst expectations. Net income rose 72% to $1.44 billion, reflecting strong profitability from its advertising platform. AppLovin Q3 results
• Positive Sentiment: Q4 revenue guidance of $2.365 billion–$2.395 billion came in above analyst estimates, reinforcing expectations that growth can continue as the company expands its AI-driven ad models. Q4 revenue outlook
• Positive Sentiment: The company expanded its share-repurchase authorization to $3.6 billion. Strong cash generation gives it capacity to return capital to shareholders. Buyback and cash generation
• Positive Sentiment: Royal Bank of Canada raised its price target to $520 from $500 and reaffirmed an Outperform rating; Oppenheimer also lifted its target to $520 and maintained Outperform. RBC forecast
• Neutral Sentiment: Analysts see growth potential as the AI advertising rollout continues, but some caution that the rollout is still partial and long-term growth visibility is not yet settled. Analyst view on growth visibility
• Negative Sentiment: A securities class action alleges AppLovin and certain officers made misleading statements about AI model readiness and ad-tool development. The claims are allegations, but the litigation could create legal costs and reputational risk. Class action announcement

About AppLovin

AppLovin is a technology company that provides software to help mobile app developers and advertisers grow their businesses. Its platform connects advertisers seeking users with app publishers looking to monetize their audiences, using data and machine-learning tools to support advertising and user acquisition.

The company’s products include AXON, its advertising optimization engine; AppDiscovery, which helps advertisers find and acquire users; and MAX, a platform for managing in-app advertising.