AppLovin (NASDAQ:APP) Raised to Neutral at Arete Research

AppLovin (NASDAQ:APP) was upgraded by research analysts at Arete Research from a “sell” rating to a “neutral” rating in a report issued on Monday, Marketbeat reports. The firm presently has a $340.00 price target on the stock. Arete Research’s target price suggests a potential downside of 22.53% from the company’s current price.

Several other research analysts have also commented on the company. Weiss Ratings raised AppLovin from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Friday, February 20th. Benchmark reiterated a “buy” rating on shares of AppLovin in a research note on Monday, February 2nd. Zacks Research cut shares of AppLovin from a “strong-buy” rating to a “hold” rating in a report on Thursday, February 12th. Citigroup cut their price objective on shares of AppLovin from $820.00 to $710.00 and set a “buy” rating on the stock in a research report on Thursday, February 12th. Finally, Morgan Stanley set a $720.00 price objective on shares of AppLovin in a research note on Thursday, February 12th. Twenty-one equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. According to MarketBeat, AppLovin presently has a consensus rating of “Moderate Buy” and an average target price of $658.14.

AppLovin Stock Up 1.4%

Shares of AppLovin stock opened at $438.89 on Monday. The company has a debt-to-equity ratio of 1.65, a current ratio of 3.32 and a quick ratio of 3.32. The stock has a market cap of $148.03 billion, a price-to-earnings ratio of 45.01, a PEG ratio of 0.89 and a beta of 2.51. The firm’s 50-day moving average is $527.66 and its two-hundred day moving average is $572.35. AppLovin has a 1 year low of $200.50 and a 1 year high of $745.61.

AppLovin (NASDAQ:APP) last released its quarterly earnings data on Wednesday, February 11th. The company reported $3.24 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.89 by $0.35. The firm had revenue of $1.66 billion for the quarter, compared to the consensus estimate of $1.61 billion. AppLovin had a net margin of 57.42% and a return on equity of 245.64%. The company’s quarterly revenue was up 66.0% on a year-over-year basis. During the same period last year, the firm earned $1.73 earnings per share. As a group, research analysts expect that AppLovin will post 6.87 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, insider Victoria Valenzuela sold 7,609 shares of AppLovin stock in a transaction on Thursday, December 18th. The shares were sold at an average price of $657.13, for a total transaction of $5,000,102.17. Following the completion of the sale, the insider directly owned 277,110 shares in the company, valued at approximately $182,097,294.30. The trade was a 2.67% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Dawson Alyssa Harvey sold 150 shares of the company’s stock in a transaction on Monday, December 8th. The shares were sold at an average price of $693.32, for a total value of $103,998.00. Following the completion of the transaction, the director directly owned 2,829 shares in the company, valued at approximately $1,961,402.28. The trade was a 5.04% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 13.66% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of APP. LFA Lugano Financial Advisors SA purchased a new position in AppLovin during the 2nd quarter worth approximately $26,000. Board of the Pension Protection Fund acquired a new stake in shares of AppLovin in the fourth quarter worth $27,000. Washington Trust Advisors Inc. increased its stake in shares of AppLovin by 160.0% in the fourth quarter. Washington Trust Advisors Inc. now owns 39 shares of the company’s stock worth $27,000 after acquiring an additional 24 shares during the period. Mcguire Capital Advisors Inc. purchased a new position in shares of AppLovin during the fourth quarter worth $27,000. Finally, Chilton Capital Management LLC acquired a new position in AppLovin during the third quarter valued at $29,000. 41.85% of the stock is currently owned by hedge funds and other institutional investors.

About AppLovin

AppLovin Corporation is a Palo Alto–based mobile technology company that provides software and services to help app developers grow and monetize their businesses. The company operates a data-driven advertising and marketing platform that connects app publishers and advertisers, delivering tools for user acquisition, monetization, analytics and creative optimization. AppLovin’s technology is integrated into a broad set of mobile applications through software development kits (SDKs) and ad products designed to maximize revenue and engagement for developers.

Key components of AppLovin’s offering include an ad mediation and exchange platform that enables publishers to manage and monetize inventory across multiple demand sources, and a user-acquisition platform that helps advertisers target and scale campaigns.