AppLovin Co. (NASDAQ:APP) Given Average Recommendation of “Moderate Buy” by Brokerages

Shares of AppLovin Co. (NASDAQ:APP) have been assigned a consensus recommendation of “Moderate Buy” from the seventeen analysts that are covering the firm, Marketbeat.com reports. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and twelve have issued a buy rating on the company. The average 1-year price target among brokers that have issued ratings on the stock in the last year is $59.31.

A number of analysts have recently weighed in on the stock. UBS Group upped their price target on shares of AppLovin from $46.00 to $55.00 and gave the stock a “neutral” rating in a report on Thursday, February 15th. Daiwa Capital Markets started coverage on shares of AppLovin in a report on Monday. They set a “neutral” rating and a $80.00 price target for the company. The Goldman Sachs Group increased their price objective on shares of AppLovin from $59.00 to $73.00 and gave the company a “buy” rating in a research note on Thursday, February 15th. TheStreet raised shares of AppLovin from a “d+” rating to a “c-” rating in a research note on Friday, March 8th. Finally, Morgan Stanley increased their price objective on shares of AppLovin from $55.00 to $70.00 and gave the company an “equal weight” rating in a research note on Tuesday.

Insider Buying and Selling at AppLovin

In other AppLovin news, insider Victoria Valenzuela sold 2,890 shares of the firm’s stock in a transaction on Thursday, February 22nd. The shares were sold at an average price of $57.76, for a total value of $166,926.40. Following the transaction, the insider now directly owns 546,560 shares of the company’s stock, valued at $31,569,305.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, insider Victoria Valenzuela sold 2,890 shares of the firm’s 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 transaction, the insider now directly owns 546,560 shares of the company’s stock, valued at $31,569,305.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Craig Scott Billings sold 5,550 shares of the firm’s stock in a transaction dated Tuesday, February 20th. The shares were 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 disclosure for this sale can be found here. Over the last three months, insiders have sold 61,215 shares of company stock valued at $4,416,815. Corporate insiders own 12.43% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the company. SeaCrest Wealth Management LLC purchased a new stake in AppLovin during the first quarter worth about $387,000. Measured Wealth Private Client Group LLC purchased a new stake in AppLovin during the first quarter worth about $210,000. Allspring Global Investments Holdings LLC increased its holdings in AppLovin by 177.2% during the first quarter. Allspring Global Investments Holdings LLC now owns 340,823 shares of the company’s stock worth $23,592,000 after buying an additional 217,887 shares during the last quarter. Oak Thistle LLC purchased a new stake in AppLovin during the first quarter worth about $284,000. Finally, Diversified Trust Co purchased a new stake in AppLovin during the first quarter worth about $233,000. 41.85% of the stock is owned by institutional investors.

AppLovin Stock Performance

NASDAQ APP opened at $68.86 on Friday. The company has a quick ratio of 1.71, a current ratio of 1.71 and a debt-to-equity ratio of 2.31. The company has a market capitalization of $23.55 billion, a P/E ratio of 68.86, a P/E/G ratio of 1.46 and a beta of 1.90. AppLovin has a 12-month low of $15.41 and a 12-month high of $79.55. The firm has a 50-day moving average price of $64.85 and a two-hundred day moving average price of $48.74.

AppLovin (NASDAQ:APP) last posted its quarterly earnings data on Wednesday, February 14th. The company reported $0.49 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.35 by $0.14. AppLovin had a net margin of 10.84% and a return on equity of 24.69%. The firm had revenue of $953.26 million during the quarter, compared to the consensus estimate of $928.66 million. During the same quarter in the previous year, the firm posted ($0.21) EPS. The business’s revenue for the quarter was up 35.7% compared to the same quarter last year. Analysts anticipate that AppLovin will post 2.47 earnings per share for the current year.

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.