AppLovin (NASDAQ:APP) Price Target Raised to $250.00 at Stifel Nicolaus

AppLovin (NASDAQ:APP) had its price objective hoisted by Stifel Nicolaus from $185.00 to $250.00 in a research report report published on Thursday morning,Benzinga reports. They currently have a buy rating on the stock.

Other equities analysts have also recently issued research reports about the company. Jefferies Financial Group boosted their target price on AppLovin from $105.00 to $108.00 and gave the stock a “buy” rating in a research report on Tuesday, September 10th. UBS Group raised AppLovin from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $100.00 to $145.00 in a report on Tuesday, September 17th. Bank of America raised their target price on AppLovin from $100.00 to $120.00 and gave the company a “buy” rating in a report on Wednesday, September 11th. Macquarie upped their price target on shares of AppLovin from $150.00 to $270.00 and gave the stock an “outperform” rating in a research note on Thursday. Finally, Needham & Company LLC reiterated a “hold” rating on shares of AppLovin in a research note on Thursday. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $182.31.

AppLovin Price Performance

Shares of NASDAQ APP opened at $290.01 on Thursday. The stock has a fifty day moving average price of $139.27 and a 200 day moving average price of $101.52. AppLovin has a 1-year low of $35.79 and a 1-year high of $292.86. The company has a debt-to-equity ratio of 4.27, a current ratio of 2.28 and a quick ratio of 2.28. The company has a market cap of $96.94 billion, a PE ratio of 87.88, a P/E/G ratio of 2.43 and a beta of 1.86.

AppLovin (NASDAQ:APP) last released its earnings results on Wednesday, November 6th. The company reported $1.25 EPS for the quarter, topping the consensus estimate of $0.92 by $0.33. AppLovin had a net margin of 26.85% and a return on equity of 122.06%. The company had revenue of $1.20 billion during the quarter, compared to analysts’ expectations of $1.13 billion. During the same quarter last year, the business earned $0.30 EPS. The business’s revenue was up 38.6% on a year-over-year basis. Sell-side analysts forecast that AppLovin will post 3.47 EPS for the current year.

Insiders Place Their Bets

In related news, Director Dawson Alyssa Harvey sold 1,500 shares of the stock in a transaction on Tuesday, September 10th. The stock was sold at an average price of $87.90, for a total transaction of $131,850.00. Following the sale, the director now owns 10,247 shares of the company’s stock, valued at $900,711.30. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, CFO Matthew Stumpf sold 60,615 shares of AppLovin stock in a transaction on Tuesday, August 13th. The stock was sold at an average price of $79.63, for a total value of $4,826,772.45. Following the completion of the sale, the chief financial officer now owns 254,458 shares of the company’s stock, valued at $20,262,490.54. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Dawson Alyssa Harvey sold 1,500 shares of AppLovin stock in a transaction dated Tuesday, September 10th. The shares were sold at an average price of $87.90, for a total value of $131,850.00. Following the completion of the sale, the director now owns 10,247 shares of the company’s stock, valued at $900,711.30. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 537,787 shares of company stock valued at $45,550,284. Corporate insiders own 14.69% of the company’s stock.

Hedge Funds Weigh In On AppLovin

Hedge funds have recently made changes to their positions in the stock. Fred Alger Management LLC purchased a new position in shares of AppLovin in the 2nd quarter worth $290,655,000. Whale Rock Capital Management LLC acquired a new stake in AppLovin during the first quarter worth about $195,129,000. Jericho Capital Asset Management L.P. raised its holdings in shares of AppLovin by 185.0% in the 1st quarter. Jericho Capital Asset Management L.P. now owns 3,890,567 shares of the company’s stock worth $269,305,000 after purchasing an additional 2,525,240 shares during the period. 1832 Asset Management L.P. lifted its stake in shares of AppLovin by 977.2% in 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 purchasing an additional 1,357,400 shares in the last quarter. Finally, WCM Investment Management LLC increased its position in AppLovin by 10.5% during the 3rd quarter. WCM Investment Management LLC now owns 10,820,409 shares of the company’s stock worth $1,382,307,000 after purchasing an additional 1,029,009 shares in the last quarter. Institutional investors and hedge funds 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.