AppLovin (NASDAQ:APP) Upgraded at Phillip Securities

Phillip Securities upgraded shares of AppLovin (NASDAQ:APP) to a moderate buy rating in a report issued on Monday morning,Zacks.com reports.

A number of other equities research analysts have also weighed in on the company. Benchmark lifted their target price on AppLovin from $525.00 to $640.00 and gave the company a “buy” rating in a research report on Monday, September 15th. JPMorgan Chase & Co. raised their price target on AppLovin from $400.00 to $425.00 and gave the company a “neutral” rating in a research note on Thursday, August 7th. Oppenheimer lifted their price objective on AppLovin from $500.00 to $740.00 and gave the company an “outperform” rating in a report on Tuesday, September 23rd. Wells Fargo & Company increased 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, Wedbush raised their target price on shares of AppLovin from $620.00 to $725.00 and gave the company an “outperform” rating in a research report on Friday, September 12th. Two equities research analysts have rated the stock with a Strong Buy rating, nineteen have issued a Buy rating, three have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, AppLovin presently has a consensus rating of “Moderate Buy” and an average target price of $578.86.

AppLovin Stock Down 2.0%

Shares of APP opened at $704.09 on Monday. The firm has a fifty day moving average price of $501.73 and a 200-day moving average price of $385.43. The company has a current ratio of 2.74, a quick ratio of 2.74 and a debt-to-equity ratio of 3.01. The firm has a market capitalization of $238.16 billion, a P/E ratio of 100.01, a P/E/G ratio of 3.94 and a beta of 2.52. AppLovin has a 12-month low of $128.50 and a 12-month high of $745.61.

AppLovin (NASDAQ:APP) last announced its quarterly earnings data on Wednesday, August 6th. The company reported $2.26 earnings per share 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 analyst estimates of $1.37 billion. AppLovin had a net margin of 45.72% and a return on equity of 252.67%. The firm’s revenue for the quarter was up 77.1% on a year-over-year basis. During the same quarter last year, the business posted $0.89 EPS. Equities research analysts expect that AppLovin will post 6.87 earnings per share for the current year.

Insider Transactions at AppLovin

In other news, Director Eduardo Vivas sold 125,000 shares of the company’s stock in a transaction on Tuesday, August 12th. The stock was sold at an average price of $466.00, for a total transaction of $58,250,000.00. Following the transaction, the director directly owned 7,283,292 shares of the company’s stock, valued at approximately $3,394,014,072. This represents a 1.69% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Arash Adam Foroughi sold 90,000 shares of the firm’s stock in a transaction on Thursday, August 21st. The stock was sold at an average price of $421.04, for a total value of $37,893,600.00. Following the completion of the sale, the chief executive officer directly owned 2,620,054 shares of the company’s stock, valued at $1,103,147,536.16. The trade was a 3.32% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 1,156,788 shares of company stock worth $514,863,333. 13.66% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On AppLovin

Several hedge funds have recently modified their holdings of APP. Atala Financial Inc purchased a new stake in AppLovin during the 1st quarter worth approximately $26,000. Hilltop National Bank purchased a new position in shares of AppLovin in the second quarter worth $26,000. LFA Lugano Financial Advisors SA acquired a new stake in shares of AppLovin during the second quarter worth $26,000. Alpine Bank Wealth Management purchased a new stake in shares of AppLovin during the first quarter valued at $27,000. Finally, ORG Wealth Partners LLC acquired a new position in shares of AppLovin in the 1st quarter valued at $29,000. Institutional investors and hedge funds own 41.85% of the company’s stock.

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.