AppLovin (NASDAQ:APP) Receives New Coverage from Analysts at Jefferies Financial Group

Jefferies Financial Group began coverage on shares of AppLovin (NASDAQ:APP) in a note issued to investors on Thursday, Marketbeat Ratings reports. The brokerage set a “buy” rating and a $93.00 price target on the stock. Jefferies Financial Group’s price target would suggest a potential upside of 23.88% from the company’s previous close.

A number of other research analysts have also recently weighed in on the stock. Stifel Nicolaus boosted their target price on shares of AppLovin from $65.00 to $85.00 and gave the company a “buy” rating in a research note on Wednesday. Wedbush increased their price target on shares of AppLovin from $67.00 to $87.00 and gave the stock an “outperform” rating in a report on Thursday, April 11th. Morgan Stanley increased their target price on shares of AppLovin from $55.00 to $70.00 and gave the company an “equal weight” rating in a report on Tuesday, April 16th. The Goldman Sachs Group raised their target price on AppLovin from $59.00 to $73.00 and gave the stock a “buy” rating in a research note on Thursday, February 15th. Finally, TheStreet upgraded shares of AppLovin from a “d+” rating to a “c-” rating in a report on Friday, March 8th. One research analyst has rated the stock with a sell rating, four have given a hold rating and twelve have given a buy rating to the company’s stock. According to data from MarketBeat.com, AppLovin currently has an average rating of “Moderate Buy” and an average target price of $63.60.

AppLovin Trading Up 3.6 %

APP opened at $75.07 on Thursday. AppLovin has a 1-year low of $16.56 and a 1-year high of $79.55. The company has a current ratio of 1.71, a quick ratio of 1.71 and a debt-to-equity ratio of 2.31. The company has a market cap of $25.67 billion, a P/E ratio of 74.28, a price-to-earnings-growth ratio of 1.39 and a beta of 1.85. The company has a fifty day moving average price of $68.24 and a two-hundred day moving average price of $50.85.

AppLovin (NASDAQ:APP) last posted its earnings results on Wednesday, February 14th. The company reported $0.49 EPS for the quarter, topping the consensus estimate of $0.35 by $0.14. AppLovin had a net margin of 10.84% and a return on equity of 24.69%. The company had revenue of $953.26 million during the quarter, compared to the consensus estimate of $928.66 million. During the same period in the previous year, the firm posted ($0.21) earnings per share. The firm’s revenue for the quarter was up 35.7% on a year-over-year basis. Analysts predict that AppLovin will post 2.51 EPS for the current fiscal year.

Insider Activity

In other news, CFO Matthew Stumpf sold 2,775 shares of the business’s stock in a transaction 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 sale, the chief financial officer now directly owns 362,264 shares of the company’s stock, valued at $22,931,311.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other AppLovin news, insider Victoria Valenzuela sold 50,000 shares of the company’s stock in a transaction on Thursday, April 4th. The shares were sold at an average price of $75.01, for a total value of $3,750,500.00. Following the sale, the insider now directly owns 471,560 shares of the company’s stock, valued at $35,371,715.60. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Matthew Stumpf sold 2,775 shares of the company’s stock in a transaction dated Thursday, March 14th. The stock was sold at an average price of $63.30, for a total transaction of $175,657.50. Following the completion of the transaction, the chief financial officer now owns 362,264 shares of the company’s stock, valued at approximately $22,931,311.20. The disclosure for this sale can be found here. Insiders have sold 61,215 shares of company stock valued at $4,416,815 over the last ninety days. 12.43% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the stock. Atlas Capital Advisors LLC acquired a new stake in AppLovin in the 1st quarter valued at about $38,000. FinTrust Capital Advisors LLC acquired a new stake in shares of AppLovin in the 4th quarter valued at $32,000. Benjamin F. Edwards & Company Inc. acquired a new stake in shares of AppLovin in the 1st quarter valued at $56,000. BluePath Capital Management LLC acquired a new stake in shares of AppLovin in the 3rd quarter valued at $33,000. Finally, Castleview Partners LLC acquired a new stake in AppLovin during the 3rd quarter worth $38,000. Institutional investors and hedge funds 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.