AppLovin (NASDAQ:APP) Price Target Raised to $400.00

AppLovin (NASDAQ:APP) had its price objective upped by Jefferies Financial Group from $270.00 to $400.00 in a research note published on Tuesday morning,Benzinga reports. Jefferies Financial Group currently has a buy rating on the stock.

Other equities analysts have also recently issued research reports about the stock. UBS Group raised shares of AppLovin from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $100.00 to $145.00 in a research note on Tuesday, September 17th. Macquarie lifted their price target on shares of AppLovin from $150.00 to $270.00 and gave the stock an “outperform” rating in a research report on Thursday, November 7th. Oppenheimer increased their price objective on AppLovin from $260.00 to $480.00 and gave the company an “outperform” rating in a research report on Monday. Wells Fargo & Company lifted their target price on AppLovin from $250.00 to $360.00 and gave the stock an “overweight” rating in a report on Wednesday, November 20th. Finally, JPMorgan Chase & Co. boosted their target price on AppLovin from $160.00 to $200.00 and gave the stock a “neutral” rating in a research report on Thursday, November 7th. One investment analyst has rated the stock with a sell rating, four have given a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, AppLovin presently has a consensus rating of “Moderate Buy” and a consensus price target of $265.57.

AppLovin Stock Performance

APP opened at $328.56 on Tuesday. The business has a 50 day moving average price of $193.60 and a two-hundred day moving average price of $122.53. The company has a debt-to-equity ratio of 3.70, a current ratio of 2.41 and a quick ratio of 2.41. The company has a market capitalization of $110.26 billion, a price-to-earnings ratio of 99.56, a price-to-earnings-growth ratio of 3.94 and a beta of 1.86. AppLovin has a 1-year low of $35.79 and a 1-year high of $344.77.

AppLovin (NASDAQ:APP) last announced its quarterly earnings data on Wednesday, November 6th. The company reported $1.25 earnings per share for the quarter, beating the consensus estimate of $0.92 by $0.33. The business had revenue of $1.20 billion during the quarter, compared to analyst estimates of $1.13 billion. AppLovin had a return on equity of 122.24% and a net margin of 26.85%. The company’s revenue was up 38.6% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.30 earnings per share. Research analysts predict that AppLovin will post 4.05 EPS for the current fiscal year.

Insider Buying and Selling at AppLovin

In related news, Director Dawson Alyssa Harvey sold 1,500 shares of the stock in a transaction that occurred on Tuesday, September 10th. The stock was sold at an average price of $87.90, for a total transaction of $131,850.00. Following the completion of the sale, the director now owns 10,247 shares in the company, valued at $900,711.30. This represents a 12.77 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CTO Vasily Shikin sold 154,500 shares of the firm’s stock in a transaction that occurred on Friday, September 6th. The shares were sold at an average price of $84.14, for a total value of $12,999,630.00. Following the completion of the sale, the chief technology officer now directly owns 4,530,455 shares in the company, valued at $381,192,483.70. This trade represents a 3.30 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 854,065 shares of company stock worth $233,072,408 over the last 90 days. Insiders own 14.69% of the company’s stock.

Institutional Investors Weigh In On AppLovin

Several hedge funds and other institutional investors have recently modified their holdings of the stock. WCM Investment Management LLC boosted its holdings in AppLovin by 10.5% in the 3rd quarter. WCM Investment Management LLC now owns 10,820,409 shares of the company’s stock valued at $1,382,307,000 after purchasing an additional 1,029,009 shares during the period. FMR LLC raised its position in shares of AppLovin by 622.8% during the third quarter. FMR LLC now owns 7,893,237 shares of the company’s stock valued at $1,030,462,000 after buying an additional 6,801,138 shares during the last quarter. Lone Pine Capital LLC lifted its stake in shares of AppLovin by 7.2% in the second quarter. Lone Pine Capital LLC now owns 5,702,438 shares of the company’s stock valued at $474,557,000 after buying an additional 382,767 shares during the period. State Street Corp grew its position in AppLovin by 8.6% during the third quarter. State Street Corp now owns 5,388,023 shares of the company’s stock worth $703,406,000 after buying an additional 428,419 shares in the last quarter. Finally, Geode Capital Management LLC increased its stake in AppLovin by 12.8% during the third quarter. Geode Capital Management LLC now owns 3,946,135 shares of the company’s stock valued at $514,418,000 after acquiring an additional 449,241 shares during the period. 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.