AppLovin Co. (NYSE:APP) Given Consensus Recommendation of “Buy” by Analysts

AppLovin Co. (NYSE:APPGet Rating) has been assigned a consensus rating of “Buy” from the fifteen brokerages that are currently covering the company, Marketbeat Ratings reports. One investment analyst has rated the stock with a hold rating and nine have given a buy rating to the company. The average twelve-month price objective among analysts that have issued ratings on the stock in the last year is $92.46.

Several analysts have recently weighed in on the company. DA Davidson cut their price objective on AppLovin from $100.00 to $80.00 in a report on Thursday, May 12th. Citigroup cut their price objective on AppLovin from $112.00 to $86.00 in a report on Tuesday, February 22nd. Truist Financial cut their price objective on AppLovin from $90.00 to $77.00 in a report on Thursday, May 12th. BTIG Research reduced their target price on AppLovin from $103.00 to $60.00 in a report on Thursday, May 12th. Finally, The Goldman Sachs Group initiated coverage on AppLovin in a report on Tuesday, April 19th. They set a “buy” rating and a $68.00 target price for the company.

Shares of AppLovin stock traded up $0.71 during trading on Friday, hitting $40.12. The stock had a trading volume of 96,413 shares, compared to its average volume of 3,327,874. The company has a debt-to-equity ratio of 1.59, a current ratio of 2.93 and a quick ratio of 5.05. The firm has a market cap of $15.08 billion and a P/E ratio of -212.84. The business has a fifty day moving average of $45.80 and a two-hundred day moving average of $68.22. AppLovin has a fifty-two week low of $27.04 and a fifty-two week high of $116.09.

AppLovin (NYSE:APPGet Rating) last announced its quarterly earnings data on Wednesday, February 16th. The company reported $0.08 earnings per share for the quarter, missing the consensus estimate of $0.11 by ($0.03). The firm had revenue of $793.00 million during the quarter, compared to analyst estimates of $776.38 million. AppLovin had a negative net margin of 2.50% and a positive return on equity of 5.49%. The business’s revenue for the quarter was up 55.6% compared to the same quarter last year. As a group, research analysts forecast that AppLovin will post 0.39 earnings per share for the current year.

In related news, CTO Vasily Shikin sold 22,500 shares of the company’s stock in a transaction on Wednesday, March 2nd. The stock was sold at an average price of $58.26, for a total transaction of $1,310,850.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CMO Katie Kihorany Jansen sold 17,000 shares of the company’s stock in a transaction dated Tuesday, February 22nd. The stock was sold at an average price of $58.71, for a total value of $998,070.00. The disclosure for this sale can be found here. 1.90% of the stock is currently owned by insiders.

A number of hedge funds have recently modified their holdings of the business. Blair William & Co. IL increased its position in AppLovin by 5.4% in the 1st quarter. Blair William & Co. IL now owns 7,552 shares of the company’s stock worth $416,000 after purchasing an additional 386 shares during the last quarter. 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 acquiring an additional 488 shares in the last quarter. Citigroup Inc. boosted its stake in shares of AppLovin by 38.0% during the 3rd quarter. Citigroup Inc. now owns 1,875 shares of the company’s stock worth $136,000 after acquiring an additional 516 shares in the last quarter. Advisor Group Holdings Inc. boosted its stake in shares of AppLovin by 55.1% during the 4th quarter. Advisor Group Holdings Inc. now owns 1,925 shares of the company’s stock worth $182,000 after acquiring an additional 684 shares in the last quarter. Finally, Captrust Financial Advisors boosted its stake in shares of AppLovin by 1,951.2% during the 3rd quarter. Captrust Financial Advisors now owns 841 shares of the company’s stock worth $61,000 after acquiring an additional 800 shares in the last quarter. 43.30% of the stock is currently owned by institutional investors.

AppLovin Company Profile (Get Rating)

AppLovin Corporation engages in building a software-based platform for mobile app developers to enhance the marketing and monetization of their apps in the United States and internationally. The company's software solutions include AppDiscovery, a marketing software solution, which matches advertiser demand with publisher supply through auctions; Adjust, an analytics platform that helps marketers grow their mobile apps with solutions for measuring, optimizing campaigns, and protecting user data; and MAX, an in-app bidding software that optimizes the value of an app's advertising inventory by running a real-time competitive auction.

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Analyst Recommendations for AppLovin (NYSE:APP)

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