AppLovin (NASDAQ:APP) Receives “Hold” Rating from Needham & Company LLC

Needham & Company LLC reiterated their hold rating on shares of AppLovin (NASDAQ:APP) in a report published on Thursday morning,Benzinga reports.

A number of other equities analysts have also weighed in on APP. Loop Capital reaffirmed a “buy” rating and set a $650.00 target price on shares of AppLovin in a research report on Friday, March 28th. Oppenheimer restated an “outperform” rating and set a $500.00 price target (down previously from $560.00) on shares of AppLovin in a research note on Thursday, May 8th. Arete Research set a $200.00 price objective on shares of AppLovin in a report on Wednesday, March 5th. Jefferies Financial Group lifted their price objective on shares of AppLovin from $460.00 to $530.00 and gave the company a “buy” rating in a report on Thursday, May 8th. Finally, Wells Fargo & Company boosted their target price on shares of AppLovin from $386.00 to $405.00 and gave the stock an “overweight” rating in a research report on Thursday, May 8th. One analyst has rated the stock with a sell rating, three have assigned a hold rating, seventeen have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, AppLovin currently has a consensus rating of “Moderate Buy” and a consensus target price of $438.85.

AppLovin Stock Up 2.6%

AppLovin stock opened at $347.45 on Thursday. The firm has a 50 day moving average price of $341.63 and a two-hundred day moving average price of $333.58. The company has a debt-to-equity ratio of 6.10, a quick ratio of 1.68 and a current ratio of 1.68. AppLovin has a 52-week low of $60.67 and a 52-week high of $525.15. The firm has a market cap of $117.57 billion, a price-to-earnings ratio of 62.72, a PEG ratio of 1.97 and a beta of 2.53.

AppLovin (NASDAQ:APP) last released its earnings results on Wednesday, May 7th. The company reported $1.67 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.45 by $0.22. The business had revenue of $1.48 billion for the quarter, compared to analyst estimates of $1.38 billion. AppLovin had a net margin of 37.38% and a return on equity of 224.65%. AppLovin’s revenue for the quarter was up 40.3% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.67 earnings per share. Equities analysts predict that AppLovin will post 6.87 EPS for the current year.

Insider Buying and Selling

In related news, insider Victoria Valenzuela sold 6,585 shares of the company’s stock in a transaction dated 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 owns 357,903 shares in the company, valued at $132,506,427.69. The trade was a 1.81% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Dawson Alyssa Harvey sold 513 shares of the company’s stock in a transaction that occurred on Friday, June 6th. The stock was sold at an average price of $420.30, for a total transaction of $215,613.90. Following the completion of the transaction, the director now owns 3,451 shares in the company, valued at approximately $1,450,455.30. This represents a 12.94% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 1,212,968 shares of company stock worth $455,062,980 in the last 90 days. Insiders own 13.66% of the company’s stock.

Hedge Funds Weigh In On AppLovin

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Kingswood Wealth Advisors LLC raised its stake in shares of AppLovin by 5.1% in the first quarter. Kingswood Wealth Advisors LLC now owns 1,663 shares of the company’s stock worth $445,000 after purchasing an additional 80 shares during the last quarter. Wealth Enhancement Advisory Services LLC raised its position in AppLovin by 62.7% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 172,378 shares of the company’s stock worth $45,675,000 after buying an additional 66,453 shares during the last quarter. Yousif Capital Management LLC lifted its stake in AppLovin by 3.5% during the 1st quarter. Yousif Capital Management LLC now owns 3,544 shares of the company’s stock valued at $939,000 after acquiring an additional 119 shares during the period. Peak Retirement Planning Inc. bought a new position in AppLovin during the 4th quarter valued at about $969,000. Finally, Assenagon Asset Management S.A. boosted its holdings in shares of AppLovin by 3.0% during the 1st quarter. Assenagon Asset Management S.A. now owns 4,173 shares of the company’s stock valued at $1,106,000 after acquiring an additional 121 shares during the last quarter. 41.85% of the stock is owned by institutional investors.

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.