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

AppLovin Corporation (NASDAQ:APP) has earned an average recommendation of “Moderate Buy” from the twenty-four brokerages that are presently covering the firm, Marketbeat Ratings reports. One analyst has rated the stock with a sell rating, three have assigned a hold rating, eighteen have given a buy rating and two have issued a strong buy rating on the company. The average 12-month price target among analysts that have issued ratings on the stock in the last year is $513.3810.

A number of analysts have recently commented on APP shares. BTIG Research lifted their price target on shares of AppLovin from $547.00 to $664.00 and gave the stock a “buy” rating in a research note on Monday, September 15th. Piper Sandler lifted their price target on shares of AppLovin from $470.00 to $500.00 and gave the company an “overweight” rating in a report on Thursday, August 7th. Citigroup reaffirmed a “buy” rating on shares of AppLovin in a report on Thursday, May 29th. Wells Fargo & Company boosted their target price on shares of AppLovin from $480.00 to $491.00 and gave the stock an “overweight” rating in a report on Thursday, August 21st. Finally, Oppenheimer upped their price target on shares of AppLovin from $500.00 to $740.00 and gave the company an “outperform” rating in a research note on Tuesday.

AppLovin Trading Down 0.3%

NASDAQ:APP opened at $639.91 on Friday. AppLovin has a 12 month low of $125.62 and a 12 month high of $670.19. The stock has a market cap of $216.45 billion, a price-to-earnings ratio of 90.90, a P/E/G ratio of 3.55 and a beta of 2.44. The company has a 50-day moving average price of $474.49 and a 200-day moving average price of $373.64. The company has a current ratio of 2.74, a quick ratio of 2.74 and a debt-to-equity ratio of 3.01.

AppLovin (NASDAQ:APP) last issued its quarterly earnings results on Wednesday, August 6th. The company reported $2.26 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.05 by $0.21. The company had revenue of $1.26 billion during the quarter, compared to analysts’ expectations of $1.37 billion. AppLovin had a net margin of 45.72% and a return on equity of 252.67%. AppLovin’s revenue was up 77.1% on a year-over-year basis. During the same period last year, the company posted $0.89 EPS. Equities analysts predict that AppLovin will post 6.87 EPS for the current year.

Insider Activity

In other news, CTO Vasily Shikin sold 30,000 shares of the stock in a transaction on Friday, August 22nd. The shares were sold at an average price of $437.57, for a total value of $13,127,100.00. Following the sale, the chief technology officer owned 3,360,104 shares of the company’s stock, valued at approximately $1,470,280,707.28. This represents a 0.88% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Dawson Alyssa Harvey sold 350 shares of the stock in a transaction on Friday, September 5th. The shares were sold at an average price of $487.97, for a total transaction of $170,789.50. Following the completion of the sale, the director directly owned 3,150 shares in the company, valued at approximately $1,537,105.50. This represents a 10.00% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 1,156,788 shares of company stock worth $514,863,333. Insiders own 13.66% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in APP. Kingswood Wealth Advisors LLC boosted its holdings in shares of AppLovin by 5.1% in the 1st quarter. Kingswood Wealth Advisors LLC now owns 1,663 shares of the company’s stock valued at $445,000 after buying an additional 80 shares in the last quarter. Wealth Enhancement Advisory Services LLC increased its holdings in shares of AppLovin by 62.7% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 172,378 shares of the company’s stock valued at $45,675,000 after purchasing an additional 66,453 shares in the last quarter. Yousif Capital Management LLC increased its holdings in shares of 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 purchasing an additional 119 shares in the last quarter. Park Avenue Securities LLC increased its holdings in AppLovin by 30.6% in the 2nd quarter. Park Avenue Securities LLC now owns 20,890 shares of the company’s stock worth $7,313,000 after acquiring an additional 4,890 shares in the last quarter. Finally, IFM Investors Pty Ltd increased its holdings in AppLovin by 15.6% in the 2nd quarter. IFM Investors Pty Ltd now owns 45,209 shares of the company’s stock worth $15,827,000 after acquiring an additional 6,104 shares in the last quarter. 41.85% of the stock is currently owned by institutional investors.

About AppLovin

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.