AppLovin (NASDAQ:APP) Price Target Raised to $810.00 at UBS Group

AppLovin (NASDAQ:APP) had its target price boosted by UBS Group from $540.00 to $810.00 in a research report released on Friday morning, MarketBeat.com reports. UBS Group currently has a buy rating on the stock.

Several other research firms have also weighed in on APP. JPMorgan Chase & Co. lifted their price objective on shares of AppLovin from $400.00 to $425.00 and gave the company a “neutral” rating in a research note on Thursday, August 7th. Morgan Stanley raised their price target on shares of AppLovin from $460.00 to $480.00 and gave the stock an “overweight” rating in a report on Thursday, August 7th. Wells Fargo & Company lifted their price target on shares of AppLovin from $480.00 to $491.00 and gave the company an “overweight” rating in a research note on Thursday, August 21st. Piper Sandler increased their price objective on shares of AppLovin from $500.00 to $740.00 and gave the stock an “overweight” rating in a research report on Friday. Finally, Wedbush raised their target price on AppLovin from $620.00 to $725.00 and gave the company an “outperform” rating in a research note on Friday, September 12th. Two investment analysts have rated the stock with a Strong Buy rating, eighteen have given a Buy rating, three have given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, AppLovin has an average rating of “Moderate Buy” and an average price target of $540.76.

AppLovin Stock Up 4.7%

Shares of AppLovin stock opened at $669.86 on Friday. The stock’s 50-day moving average is $480.60 and its 200 day moving average is $376.48. AppLovin has a one year low of $126.53 and a one year high of $671.18. The firm has a market cap of $226.58 billion, a price-to-earnings ratio of 95.15, a PEG ratio of 3.54 and a beta of 2.44. The company has a debt-to-equity ratio of 3.01, a current ratio of 2.74 and a quick ratio of 2.74.

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

Insider Buying and Selling

In other news, insider Victoria Valenzuela sold 35,000 shares of the stock in a transaction that occurred on Thursday, September 4th. The stock was sold at an average price of $502.23, for a total value of $17,578,050.00. Following the completion of the sale, the insider directly owned 269,955 shares of the company’s stock, valued at $135,579,499.65. This represents a 11.48% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Arash Adam Foroughi sold 26,200 shares of the company’s stock in a transaction on Friday, August 22nd. The stock was sold at an average price of $440.23, for a total value of $11,534,026.00. Following the sale, the chief executive officer owned 2,590,054 shares of the company’s stock, valued at $1,140,219,472.42. This trade represents a 1.00% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 1,156,788 shares of company stock valued at $514,863,333. Company insiders own 13.66% of the company’s stock.

Institutional Investors Weigh In On AppLovin

A number of institutional investors have recently added to or reduced their stakes in the company. Atala Financial Inc bought a new position in shares of AppLovin during the 1st quarter worth approximately $26,000. Hilltop National Bank purchased a new stake in shares of AppLovin during the second quarter valued at approximately $26,000. LFA Lugano Financial Advisors SA purchased a new position in AppLovin in the second quarter worth $26,000. Alpine Bank Wealth Management purchased a new position in AppLovin in the first quarter worth $27,000. Finally, ORG Wealth Partners LLC bought a new position in AppLovin in the 1st quarter valued at $29,000. 41.85% of the stock is 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.