AppLovin Co. (NASDAQ:APP) Given Consensus Rating of “Moderate Buy” by Analysts

by · The Cerbat Gem

AppLovin Co. (NASDAQ:APP – Get Free Report) has received a consensus rating of “Moderate Buy” from the fifteen ratings firms that are presently covering the firm, Marketbeat.com reports. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and ten have assigned a buy rating to the company. The average 1 year price target among analysts that have updated their coverage on the stock in the last year is $110.01.

A number of equities analysts have issued reports on APP shares. UBS Group upgraded shares of AppLovin from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $100.00 to $145.00 in a research report on Tuesday, September 17th. Bank of America boosted their price objective on shares of AppLovin from $100.00 to $120.00 and gave the company a “buy” rating in a research report on Wednesday, September 11th. Wedbush decreased their price objective on shares of AppLovin from $100.00 to $90.00 and set an “outperform” rating on the stock in a research report on Thursday, August 8th. The Goldman Sachs Group cut shares of AppLovin from a “buy” rating to a “neutral” rating and boosted their price target for the company from $103.00 to $150.00 in a research report on Monday. Finally, Oppenheimer reiterated an “outperform” rating and set a $105.00 price target (up previously from $97.00) on shares of AppLovin in a research report on Thursday, August 8th.

View Our Latest Research Report on AppLovin

Insiders Place Their Bets

In other news, Director Dawson Alyssa Harvey sold 1,500 shares of the company’s stock in a transaction that occurred on Tuesday, September 10th. The shares were sold at an average price of $87.90, for a total value of $131,850.00. Following the transaction, the director now owns 10,247 shares in the company, valued at approximately $900,711.30. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. In other news, insider Victoria Valenzuela sold 14,166 shares of the company’s stock in a transaction that occurred on Thursday, August 22nd. The shares were sold at an average price of $89.98, for a total value of $1,274,656.68. Following the transaction, the insider now owns 352,616 shares in the company, valued at approximately $31,728,387.68. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Dawson Alyssa Harvey sold 1,500 shares of the company’s 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 transaction, the director now owns 10,247 shares in the company, valued at approximately $900,711.30. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 610,094 shares of company stock worth $51,022,478. 14.69% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in APP. Quest Partners LLC bought a new position in AppLovin during the second quarter valued at approximately $33,000. Oliver Lagore Vanvalin Investment Group bought a new position in AppLovin during the second quarter valued at approximately $34,000. Covestor Ltd lifted its position in AppLovin by 85.8% during the first quarter. Covestor Ltd now owns 511 shares of the company’s stock valued at $35,000 after purchasing an additional 236 shares during the period. Thurston Springer Miller Herd & Titak Inc. bought a new position in AppLovin during the second quarter valued at approximately $37,000. Finally, Atlas Capital Advisors LLC purchased a new stake in AppLovin during the first quarter valued at approximately $38,000. Institutional investors own 41.85% of the company’s stock.

AppLovin Stock Performance

AppLovin stock opened at $143.81 on Friday. The company has a quick ratio of 2.28, a current ratio of 2.28 and a debt-to-equity ratio of 4.27. The company has a market capitalization of $47.32 billion, a PE ratio of 85.60, a P/E/G ratio of 2.07 and a beta of 1.92. The firm has a fifty day simple moving average of $107.75 and a two-hundred day simple moving average of $88.84. AppLovin has a twelve month low of $34.45 and a twelve month high of $148.48.

AppLovin (NASDAQ:APP – Get Free Report) last released its quarterly earnings data on Wednesday, August 7th. The company reported $0.89 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.77 by $0.12. AppLovin had a net margin of 20.89% and a return on equity of 84.16%. The firm had revenue of $1.08 billion for the quarter, compared to analysts’ expectations of $1.08 billion. During the same quarter in the previous year, the company earned $0.22 earnings per share. The company’s revenue for the quarter was up 44.0% compared to the same quarter last year. Research analysts expect that AppLovin will post 3.46 EPS for the current year.

AppLovin Company Profile

(Get Free Report

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.

Recommended Stories