AppLovin (NASDAQ:APP) Coverage Initiated at Daiwa Capital Markets

Daiwa Capital Markets started coverage on shares of AppLovin (NASDAQ:APP) in a research note published on Monday, Marketbeat Ratings reports. The brokerage issued a neutral rating and a $80.00 target price on the stock.

Other research analysts have also issued reports about the stock. BTIG Research upped their target price on shares of AppLovin from $65.00 to $87.00 and gave the company a buy rating in a report on Tuesday, April 9th. TheStreet upgraded shares of AppLovin from a d+ rating to a c- rating in a report on Friday, March 8th. HSBC assumed coverage on shares of AppLovin in a report on Monday, December 18th. They issued a buy rating and a $53.20 target price on the stock. The Goldman Sachs Group upped their target price 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, Oppenheimer upped their target price on shares of AppLovin from $70.00 to $85.00 and gave the company an outperform rating in a report on Monday, April 8th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and twelve have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of Moderate Buy and an average target price of $57.75.

AppLovin Price Performance

Shares of NASDAQ APP opened at $71.43 on Monday. The stock has a market cap of $24.43 billion, a price-to-earnings ratio of 71.43, a PEG ratio of 1.53 and a beta of 1.90. AppLovin has a 52 week low of $15.41 and a 52 week high of $79.55. The company’s 50-day moving average price is $63.41 and its 200 day moving average price is $48.21. 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 (NASDAQ:APP) last issued its quarterly earnings data on Wednesday, February 14th. The company reported $0.49 EPS for the quarter, beating analysts’ consensus estimates of $0.35 by $0.14. The firm had revenue of $953.26 million for the quarter, compared to analysts’ expectations of $928.66 million. AppLovin had a net margin of 10.84% and a return on equity of 24.69%. The firm’s revenue was up 35.7% on a year-over-year basis. During the same period in the prior year, the company earned ($0.21) EPS. As a group, research analysts forecast that AppLovin will post 2.47 earnings per share for the current fiscal year.

Insider Buying and Selling at AppLovin

In other news, CFO Matthew Stumpf sold 2,775 shares of the firm’s stock in a transaction that occurred on Thursday, March 14th. The shares were sold at an average price of $63.30, for a total transaction of $175,657.50. Following the completion of the sale, the chief financial officer now owns 362,264 shares of the company’s stock, valued at $22,931,311.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, Director Craig Scott Billings sold 5,550 shares of the firm’s stock in a transaction on Tuesday, February 20th. The stock was sold at an average price of $58.33, for a total transaction of $323,731.50. Following the transaction, the director now directly owns 12,739 shares in the company, valued at $743,065.87. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Matthew Stumpf sold 2,775 shares of AppLovin stock in a transaction dated Thursday, March 14th. The shares were sold at an average price of $63.30, for a total transaction of $175,657.50. Following the sale, the chief financial officer now owns 362,264 shares in the company, valued at $22,931,311.20. The disclosure for this sale can be found here. Insiders sold 61,215 shares of company stock valued at $4,416,815 over the last 90 days. 12.43% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On AppLovin

A number of hedge funds and other institutional investors have recently modified their holdings of APP. FinTrust Capital Advisors LLC acquired a new position in AppLovin during the fourth quarter worth about $32,000. BluePath Capital Management LLC acquired a new stake in shares of AppLovin during the 3rd quarter valued at about $33,000. Tower Research Capital LLC TRC lifted its holdings in shares of AppLovin by 86.1% during the 3rd quarter. Tower Research Capital LLC TRC now owns 927 shares of the company’s stock valued at $37,000 after buying an additional 429 shares during the last quarter. Castleview Partners LLC acquired a new stake in shares of AppLovin during the 3rd quarter valued at about $38,000. Finally, Atlas Capital Advisors LLC acquired a new stake in shares of AppLovin during the 1st quarter valued at about $38,000. 41.85% of the stock is currently owned by institutional investors.

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.