AppLovin Co. (NASDAQ:APP) Given Consensus Rating of “Moderate Buy” by Brokerages

AppLovin Co. (NASDAQ:APP) has received a consensus recommendation of “Moderate Buy” from the twenty-two research firms that are covering the firm, MarketBeat reports. One analyst has rated the stock with a sell rating, three have assigned a hold rating, seventeen have assigned a buy rating and one has issued a strong buy rating on the company. The average 1-year target price among brokerages that have issued a report on the stock in the last year is $433.85.

APP has been the topic of a number of research reports. Arete Research set a $200.00 price target on shares of AppLovin in a research note on Wednesday, March 5th. Oppenheimer reaffirmed an “outperform” rating and issued a $500.00 price target (down previously from $560.00) on shares of AppLovin in a research note on Thursday, May 8th. UBS Group lifted their price target on shares of AppLovin from $450.00 to $475.00 and gave the company a “buy” rating in a research note on Thursday, May 8th. Benchmark reaffirmed a “buy” rating and issued a $525.00 price target on shares of AppLovin in a research note on Thursday, May 8th. Finally, HSBC set a $436.00 price target on shares of AppLovin and gave the company a “buy” rating in a research note on Wednesday, April 23rd.

Insider Buying and Selling

In other AppLovin news, insider Victoria Valenzuela sold 6,585 shares of the company’s stock in a transaction on Monday, May 19th. The shares were sold at an average price of $370.23, for a total value of $2,437,964.55. Following the transaction, the insider now directly owns 357,903 shares in the company, valued at $132,506,427.69. The trade was a 1.81% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CTO Vasily Shikin sold 17,500 shares of the company’s stock in a transaction on Monday, March 10th. The shares were 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 approximately $21,359,201.85. This represents a 16.53% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 1,277,654 shares of company stock worth $465,170,665. Insiders own 14.69% of the company’s stock.

Hedge Funds Weigh In On AppLovin

Several institutional investors and hedge funds have recently modified their holdings of the business. Vanguard Group Inc. grew its stake in shares of AppLovin by 7.3% in the first quarter. Vanguard Group Inc. now owns 17,830,675 shares of the company’s stock valued at $4,724,594,000 after acquiring an additional 1,213,536 shares in the last quarter. FMR LLC grew its stake in shares of AppLovin by 75.5% in the fourth quarter. FMR LLC now owns 13,851,122 shares of the company’s stock valued at $4,485,409,000 after acquiring an additional 5,957,885 shares in the last quarter. Price T Rowe Associates Inc. MD grew its stake in shares of AppLovin by 36.7% in the first quarter. Price T Rowe Associates Inc. MD now owns 6,588,483 shares of the company’s stock valued at $1,745,752,000 after acquiring an additional 1,769,400 shares in the last quarter. SVB Wealth LLC acquired a new position in shares of AppLovin in the fourth quarter valued at about $1,781,922,000. Finally, Baillie Gifford & Co. grew its stake in shares of AppLovin by 29.0% in the first quarter. Baillie Gifford & Co. now owns 5,270,355 shares of the company’s stock valued at $1,396,486,000 after acquiring an additional 1,185,859 shares in the last quarter. 41.85% of the stock is currently owned by institutional investors and hedge funds.

AppLovin Stock Up 0.8%

AppLovin stock opened at $354.29 on Friday. The company’s 50 day simple moving average is $292.64 and its 200 day simple moving average is $324.15. AppLovin has a fifty-two week low of $60.67 and a fifty-two week high of $525.15. The firm has a market capitalization of $119.89 billion, a price-to-earnings ratio of 78.04, a PEG ratio of 3.02 and a beta of 2.39. The company has a debt-to-equity ratio of 3.70, a current ratio of 2.41 and a quick ratio of 2.41.

AppLovin (NASDAQ:APP) last released its quarterly earnings data on Wednesday, May 7th. The company reported $1.67 earnings per share for the quarter, topping the consensus estimate of $1.45 by $0.22. AppLovin had a net margin of 33.54% and a return on equity of 188.55%. The business had revenue of $1.48 billion for the quarter, compared to analyst estimates of $1.38 billion. During the same quarter last year, the firm earned $0.67 EPS. AppLovin’s quarterly revenue was up 40.3% compared to the same quarter last year. As a group, sell-side analysts anticipate that AppLovin will post 6.87 EPS for the current 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.