AppLovin (NASDAQ:APP) Given New $335.00 Price Target at The Goldman Sachs Group

AppLovin (NASDAQ:APP) had its price target reduced by The Goldman Sachs Group from $500.00 to $335.00 in a research report sent to investors on Monday,Benzinga reports. The Goldman Sachs Group currently has a neutral rating on the stock.

A number of other research analysts have also commented on APP. Wells Fargo & Company lowered their price target on AppLovin from $538.00 to $386.00 and set an “overweight” rating for the company in a research report on Tuesday, April 8th. Citigroup raised their price target on AppLovin from $460.00 to $600.00 and gave the stock a “buy” rating in a research note on Wednesday, February 19th. Oppenheimer reiterated an “outperform” rating and issued a $560.00 price target on shares of AppLovin in a report on Thursday, March 27th. Benchmark upped their price objective on shares of AppLovin from $375.00 to $525.00 and gave the stock a “buy” rating in a report on Thursday, February 13th. Finally, FBN Securities initiated coverage on shares of AppLovin in a research note on Friday, March 28th. They set an “outperform” rating and a $385.00 target price on the stock. One analyst has rated the stock with a sell rating, three have issued a hold rating, sixteen have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, AppLovin has a consensus rating of “Moderate Buy” and an average target price of $424.84.

AppLovin Stock Down 5.6 %

APP opened at $236.07 on Monday. AppLovin has a 12 month low of $60.67 and a 12 month high of $525.15. The company has a current ratio of 2.41, a quick ratio of 2.41 and a debt-to-equity ratio of 3.70. The business’s 50-day moving average price is $324.56 and its 200-day moving average price is $295.32. The company has a market cap of $80.25 billion, a P/E ratio of 52.00, a P/E/G ratio of 3.02 and a beta of 2.39.

AppLovin (NASDAQ:APP) last announced its quarterly earnings results on Wednesday, February 12th. The company reported $1.73 EPS for the quarter, topping analysts’ consensus estimates of $1.12 by $0.61. AppLovin had a return on equity of 188.55% and a net margin of 33.54%. On average, equities analysts expect that AppLovin will post 6.87 EPS for the current year.

Insider Transactions at AppLovin

In related news, Director Herald Y. Chen sold 200,000 shares of the business’s stock in a transaction that occurred on Friday, February 28th. The shares were sold at an average price of $324.65, for a total transaction of $64,930,000.00. Following the completion of the sale, the director now directly owns 621,209 shares in the company, valued at approximately $201,675,501.85. The trade was a 24.35 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CTO Vasily Shikin sold 17,500 shares of the stock in a transaction that occurred on Monday, March 10th. The stock was sold at an average price of $241.65, for a total transaction of $4,228,875.00. Following the completion of the transaction, the chief technology officer now owns 88,389 shares in the company, valued at $21,359,201.85. The trade was a 16.53 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 306,900 shares of company stock worth $106,401,841 in the last ninety days. Insiders own 14.69% of the company’s stock.

Institutional Investors Weigh In On AppLovin

Hedge funds have recently modified their holdings of the business. GHP Investment Advisors Inc. purchased a new position in AppLovin during the fourth quarter valued at $25,000. Fuller & Thaler Asset Management Inc. purchased a new position in shares of AppLovin during the 4th quarter valued at about $25,000. Riverview Trust Co grew its stake in shares of AppLovin by 1,640.0% during the 4th quarter. Riverview Trust Co now owns 87 shares of the company’s stock valued at $28,000 after acquiring an additional 82 shares during the period. Tucker Asset Management LLC purchased a new stake in AppLovin in the 4th quarter worth approximately $28,000. Finally, Hemington Wealth Management raised its stake in AppLovin by 78.4% during the 4th quarter. Hemington Wealth Management now owns 91 shares of the company’s stock worth $29,000 after acquiring an additional 40 shares during the period. 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.