AppLovin’s (APP) Outperform Rating Reiterated at Macquarie

AppLovin (NASDAQ:APP)‘s stock had its “outperform” rating reaffirmed by stock analysts at Macquarie in a report released on Wednesday, Benzinga reports. They presently have a $150.00 price target on the stock, up from their prior price target of $115.00. Macquarie’s price objective would suggest a potential upside of 15.59% from the stock’s current price.

Other analysts have also recently issued research reports about the company. UBS Group upgraded AppLovin from a “neutral” rating to a “buy” rating and increased their target price for the stock from $100.00 to $145.00 in a report on Tuesday, September 17th. Oppenheimer reaffirmed an “outperform” rating and issued a $105.00 price target (up previously from $97.00) on shares of AppLovin in a research note on Thursday, August 8th. Benchmark lifted their price target on shares of AppLovin from $48.00 to $66.00 and gave the company a “sell” rating in a research note on Friday, August 23rd. Citigroup boosted their price objective on shares of AppLovin from $110.00 to $155.00 and gave the stock a “buy” rating in a research report on Thursday, September 19th. Finally, Bank of America upped their price objective on shares of AppLovin from $100.00 to $120.00 and gave the company a “buy” rating in a report on Wednesday, September 11th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and eleven have issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $106.44.

AppLovin Stock Up 0.5 %

Shares of APP traded up $0.69 during trading hours on Wednesday, reaching $129.77. The company’s stock had a trading volume of 723,491 shares, compared to its average volume of 4,211,966. The firm has a market cap of $43.38 billion, a price-to-earnings ratio of 77.27, a P/E/G ratio of 1.82 and a beta of 1.88. AppLovin has a 1-year low of $34.45 and a 1-year high of $130.77. The company has a quick ratio of 2.28, a current ratio of 2.28 and a debt-to-equity ratio of 4.27. The company has a 50 day moving average of $89.54 and a two-hundred day moving average of $81.44.

AppLovin (NASDAQ:APP) last announced its earnings results on Wednesday, August 7th. The company reported $0.89 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.77 by $0.12. AppLovin had a return on equity of 84.16% and a net margin of 20.89%. The firm had revenue of $1.08 billion during the quarter, compared to analysts’ expectations of $1.08 billion. During the same quarter in the prior year, the business earned $0.22 earnings per share. The company’s revenue was up 44.0% on a year-over-year basis. As a group, research analysts predict that AppLovin will post 3.46 EPS for the current fiscal year.

Insider Activity at AppLovin

In other news, CMO Katie Kihorany Jansen sold 72,307 shares of the stock in a transaction on Monday, August 12th. The stock was sold at an average price of $75.68, for a total value of $5,472,193.76. Following the sale, the chief marketing officer now directly owns 1,164,396 shares of the company’s stock, valued at $88,121,489.28. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other news, CMO Katie Kihorany Jansen sold 72,307 shares of the firm’s stock in a transaction dated Monday, August 12th. The stock was sold at an average price of $75.68, for a total value of $5,472,193.76. Following the transaction, the chief marketing officer now owns 1,164,396 shares of the company’s stock, valued at $88,121,489.28. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Dawson Alyssa Harvey sold 1,500 shares of the firm’s stock in a transaction dated Tuesday, September 10th. The stock was sold at an average price of $87.90, for a total value of $131,850.00. Following the completion of the transaction, the director now directly owns 10,247 shares in the company, valued at approximately $900,711.30. The disclosure for this sale can be found here. Insiders sold a total of 775,934 shares of company stock worth $65,805,022 over the last quarter. 14.69% of the stock is owned by corporate insiders.

Institutional Trading of AppLovin

Several institutional investors and hedge funds have recently added to or reduced their stakes in APP. WCM Investment Management LLC bought a new stake in AppLovin during the 1st quarter valued at approximately $497,488,000. Fred Alger Management LLC purchased a new position in AppLovin during the 2nd quarter valued at approximately $290,655,000. Whale Rock Capital Management LLC purchased a new position in AppLovin during the 1st quarter valued at approximately $195,129,000. Jericho Capital Asset Management L.P. grew its holdings in AppLovin by 185.0% during the 1st quarter. Jericho Capital Asset Management L.P. now owns 3,890,567 shares of the company’s stock valued at $269,305,000 after buying an additional 2,525,240 shares in the last quarter. Finally, 1832 Asset Management L.P. grew its holdings in AppLovin by 977.2% during the 2nd quarter. 1832 Asset Management L.P. now owns 1,496,300 shares of the company’s stock valued at $124,522,000 after buying an additional 1,357,400 shares in the last quarter. Institutional investors own 41.85% of the company’s stock.

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.