AppLovin’s (APP) “Hold” Rating Reaffirmed at Needham & Company LLC

Needham & Company LLC reissued their hold rating on shares of AppLovin (NASDAQ:APP) in a research note released on Thursday morning,Benzinga reports.

A number of other research analysts have also issued reports on the company. UBS Group boosted their price objective on AppLovin from $315.00 to $440.00 and gave the company a “buy” rating in a research report on Wednesday, January 22nd. Wells Fargo & Company boosted their price target on shares of AppLovin from $360.00 to $366.00 and gave the company an “overweight” rating in a report on Monday, January 13th. Daiwa America raised shares of AppLovin from a “hold” rating to a “strong-buy” rating in a report on Friday, November 8th. Jefferies Financial Group boosted their target price on shares of AppLovin from $400.00 to $425.00 and gave the company a “buy” rating in a research note on Wednesday, January 8th. Finally, Piper Sandler started coverage on shares of AppLovin in a research note on Wednesday, November 20th. They issued an “overweight” rating and a $400.00 price target on the stock. Four analysts have rated the stock with 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.com, AppLovin presently has an average rating of “Moderate Buy” and an average target price of $422.18.

AppLovin Stock Up 24.0 %

APP stock opened at $471.67 on Thursday. The firm has a market cap of $158.29 billion, a price-to-earnings ratio of 142.93, a PEG ratio of 3.10 and a beta of 2.30. AppLovin has a 1-year low of $45.59 and a 1-year high of $525.15. The firm has a fifty day moving average price of $349.15 and a two-hundred day moving average price of $226.34. The company has a debt-to-equity ratio of 3.70, a current ratio of 2.41 and a quick ratio of 2.41.

AppLovin (NASDAQ:APP) last released its quarterly earnings data on Wednesday, February 12th. The company reported $1.73 earnings per share for the quarter, topping the consensus estimate of $1.12 by $0.61. AppLovin had a net margin of 26.85% and a return on equity of 122.24%. Research analysts predict that AppLovin will post 4.09 EPS for the current year.

Insider Activity

In other news, Director Dawson Alyssa Harvey sold 500 shares of AppLovin stock in a transaction that occurred on Friday, December 6th. The shares were sold at an average price of $406.27, for a total value of $203,135.00. Following the transaction, the director now owns 6,684 shares of the company’s stock, valued at $2,715,508.68. The trade was a 6.96 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, CFO Herald Y. Chen sold 400 shares of the stock in a transaction that occurred on Monday, December 9th. The shares were sold at an average price of $366.16, for a total transaction of $146,464.00. Following the sale, the chief financial officer now directly owns 207,649 shares of the company’s stock, valued at approximately $76,032,757.84. This represents a 0.19 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 828,991 shares of company stock worth $267,640,144 over the last 90 days. 14.69% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Townsquare Capital LLC grew its holdings in shares of AppLovin by 64.9% in the 3rd quarter. Townsquare Capital LLC now owns 7,942 shares of the company’s stock worth $1,037,000 after acquiring an additional 3,126 shares during the last quarter. Second Half Financial Partners LLC purchased a new position in AppLovin in the 3rd quarter worth about $224,000. State Street Corp increased its stake in AppLovin by 8.6% in the 3rd quarter. State Street Corp now owns 5,388,023 shares of the company’s stock worth $703,406,000 after purchasing an additional 428,419 shares in the last quarter. Eagle Asset Management Inc. raised its holdings in AppLovin by 2,200.4% during the 3rd quarter. Eagle Asset Management Inc. now owns 523,149 shares of the company’s stock worth $68,297,000 after buying an additional 500,407 shares during the period. Finally, Zacks Investment Management lifted its stake in AppLovin by 328.1% during the third quarter. Zacks Investment Management now owns 106,121 shares of the company’s stock valued at $13,854,000 after buying an additional 81,331 shares in the last quarter. Institutional investors own 41.85% of the company’s stock.

AppLovin Company Profile

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.