AppLovin Co. (NASDAQ:APP) Receives Average Rating of “Moderate Buy” from Brokerages

Shares of AppLovin Co. (NASDAQ:APP) have been given an average rating of “Moderate Buy” by the twenty-one ratings firms that are presently covering the stock, MarketBeat.com reports. One research analyst has rated the stock with a sell rating, three have issued a hold rating, sixteen have assigned a buy rating and one has assigned a strong buy rating to the company. The average 1-year price objective among brokers that have issued ratings on the stock in the last year is $414.05.

Several equities research analysts have recently commented on APP shares. Needham & Company LLC reaffirmed a “hold” rating on shares of AppLovin in a research report on Monday, April 21st. JPMorgan Chase & Co. cut their price objective on shares of AppLovin from $475.00 to $270.00 and set a “neutral” rating for the company in a report on Tuesday, April 22nd. Jefferies Financial Group increased their price objective on shares of AppLovin from $400.00 to $425.00 and gave the company a “buy” rating in a report on Wednesday, January 8th. Loop Capital reiterated a “buy” rating and set a $650.00 target price on shares of AppLovin in a research report on Friday, March 28th. Finally, The Goldman Sachs Group lowered their target price on AppLovin from $500.00 to $335.00 and set a “neutral” rating for the company in a research report on Monday, April 14th.

Insider Buying and Selling at AppLovin

In other news, Director Herald Y. Chen sold 200,000 shares of the company’s stock in a transaction on Friday, February 28th. The shares were sold at an average price of $324.65, for a total value of $64,930,000.00. Following the completion of the transaction, the director now directly owns 621,209 shares in the company, valued at approximately $201,675,501.85. This represents a 24.35 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CTO Vasily Shikin sold 17,500 shares of the stock in a transaction 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 sale, the chief technology officer now directly owns 88,389 shares in the company, valued at $21,359,201.85. This trade represents a 16.53 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 306,900 shares of company stock worth $106,401,841. 14.69% of the stock is owned by insiders.

Institutional Investors Weigh In On AppLovin

A number of institutional investors have recently added to or reduced their stakes in the company. Oxinas Partners Wealth Management LLC acquired a new position in AppLovin during the fourth quarter worth $1,081,000. Virtu Financial LLC bought a new stake in AppLovin in the third quarter valued at $3,211,000. Franchise Capital Ltd bought a new stake in AppLovin in the fourth quarter valued at $2,811,000. Barclays PLC boosted its stake in AppLovin by 92.5% in the third quarter. Barclays PLC now owns 318,992 shares of the company’s stock worth $41,643,000 after purchasing an additional 153,248 shares in the last quarter. Finally, Tcfg Wealth Management LLC acquired a new position in shares of AppLovin during the fourth quarter valued at $369,000. 41.85% of the stock is currently owned by institutional investors and hedge funds.

AppLovin Stock Up 2.9 %

APP stock opened at $284.98 on Tuesday. AppLovin has a fifty-two week low of $60.67 and a fifty-two week high of $525.15. The business’s 50 day moving average price is $286.98 and its two-hundred day moving average price is $303.11. The company has a debt-to-equity ratio of 3.70, a quick ratio of 2.41 and a current ratio of 2.41. The company has a market capitalization of $96.88 billion, a price-to-earnings ratio of 62.77, a price-to-earnings-growth ratio of 3.02 and a beta of 2.39.

AppLovin (NASDAQ:APP) last posted its quarterly earnings results on Wednesday, February 12th. The company reported $1.73 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.12 by $0.61. AppLovin had a return on equity of 188.55% and a net margin of 33.54%. As a group, analysts forecast that AppLovin will post 6.87 earnings per share for the current fiscal year.

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.