Recent Analysts’ Ratings Changes for AppLovin (APP)

by · The Markets Daily

Several analysts have recently updated their ratings and price targets for AppLovin (NASDAQ: APP):

  • 11/26/2024 – AppLovin had its price target raised by analysts at Jefferies Financial Group Inc. from $270.00 to $400.00. They now have a “buy” rating on the stock.
  • 11/25/2024 – AppLovin had its price target raised by analysts at Oppenheimer Holdings Inc. from $260.00 to $480.00. They now have an “outperform” rating on the stock.
  • 11/25/2024 – AppLovin had its price target raised by analysts at Bank of America Co. from $252.00 to $375.00. They now have a “buy” rating on the stock.
  • 11/20/2024 – AppLovin had its price target raised by analysts at Wells Fargo & Company from $250.00 to $360.00. They now have an “overweight” rating on the stock.
  • 11/20/2024 – AppLovin is now covered by analysts at Piper Sandler. They set an “overweight” rating and a $400.00 price target on the stock.
  • 11/18/2024 – AppLovin had its price target raised by analysts at Citigroup Inc. from $185.00 to $335.00. They now have a “buy” rating on the stock.
  • 11/11/2024 – AppLovin had its price target raised by analysts at Loop Capital from $181.00 to $385.00. They now have a “buy” rating on the stock.
  • 11/8/2024 – AppLovin was upgraded by analysts at Daiwa America from a “hold” rating to a “strong-buy” rating.
  • 11/8/2024 – AppLovin was upgraded by analysts at Daiwa Capital Markets from a “neutral” rating to an “outperform” rating. They now have a $280.00 price target on the stock, up previously from $80.00.
  • 11/7/2024 – AppLovin had its “sell” rating reaffirmed by analysts at Benchmark Co.. They now have a $66.00 price target on the stock.
  • 11/7/2024 – AppLovin had its price target raised by analysts at Oppenheimer Holdings Inc. from $180.00 to $260.00. They now have an “outperform” rating on the stock.
  • 11/7/2024 – AppLovin had its price target raised by analysts at Macquarie from $150.00 to $270.00. They now have an “outperform” rating on the stock.
  • 11/7/2024 – AppLovin had its “outperform” rating reaffirmed by analysts at Wedbush. They now have a $270.00 price target on the stock, up previously from $170.00.
  • 11/7/2024 – AppLovin had its price target raised by analysts at JPMorgan Chase & Co. from $160.00 to $200.00. They now have a “neutral” rating on the stock.
  • 11/7/2024 – AppLovin had its “hold” rating reaffirmed by analysts at Needham & Company LLC.
  • 11/7/2024 – AppLovin had its price target raised by analysts at Stifel Nicolaus from $185.00 to $250.00. They now have a “buy” rating on the stock.
  • 11/7/2024 – AppLovin had its price target raised by analysts at BTIG Research from $202.00 to $291.00. They now have a “buy” rating on the stock.
  • 11/4/2024 – AppLovin was upgraded by analysts at Wedbush to a “strong-buy” rating.
  • 10/30/2024 – AppLovin had its price target raised by analysts at BTIG Research from $150.00 to $202.00. They now have a “buy” rating on the stock.
  • 10/28/2024 – AppLovin is now covered by analysts at Wells Fargo & Company. They set an “overweight” rating and a $200.00 price target on the stock.
  • 10/23/2024 – AppLovin had its price target raised by analysts at Oppenheimer Holdings Inc. from $105.00 to $180.00. They now have an “outperform” rating on the stock.
  • 10/23/2024 – AppLovin had its price target raised by analysts at Stifel Nicolaus from $100.00 to $185.00. They now have a “buy” rating on the stock.
  • 10/22/2024 – AppLovin had its price target raised by analysts at JPMorgan Chase & Co. from $57.00 to $160.00. They now have a “neutral” rating on the stock.
  • 10/22/2024 – AppLovin had its price target raised by analysts at Citigroup Inc. from $155.00 to $185.00. They now have a “buy” rating on the stock.
  • 10/22/2024 – AppLovin is now covered by analysts at Loop Capital. They set a “buy” rating and a $181.00 price target on the stock.
  • 10/14/2024 – AppLovin was downgraded by analysts at The Goldman Sachs Group, Inc. from a “buy” rating to a “neutral” rating. They now have a $150.00 price target on the stock, up previously from $103.00.

AppLovin Price Performance

NASDAQ:APP traded up $8.19 on Friday, reaching $336.75. The stock had a trading volume of 2,714,529 shares, compared to its average volume of 4,462,568. The company has a market capitalization of $113.01 billion, a P/E ratio of 102.05, a price-to-earnings-growth ratio of 4.05 and a beta of 1.86. AppLovin Co. has a 1-year low of $35.79 and a 1-year high of $344.77. The company has a quick ratio of 2.41, a current ratio of 2.41 and a debt-to-equity ratio of 3.70. The stock has a fifty day moving average price of $197.69 and a 200-day moving average price of $123.96.

AppLovin (NASDAQ:APP – Get Free Report) last announced its earnings results on Wednesday, November 6th. The company reported $1.25 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.92 by $0.33. AppLovin had a net margin of 26.85% and a return on equity of 122.24%. The company had revenue of $1.20 billion for the quarter, compared to analyst estimates of $1.13 billion. During the same period in the prior year, the business earned $0.30 earnings per share. AppLovin’s quarterly revenue was up 38.6% on a year-over-year basis. Research analysts forecast that AppLovin Co. will post 4.06 EPS for the current year.

Insider Activity at AppLovin

In related news, CFO Matthew Stumpf sold 21,101 shares of the stock in a transaction that occurred on Friday, November 22nd. The shares were sold at an average price of $332.67, for a total value of $7,019,669.67. Following the transaction, the chief financial officer now directly owns 213,336 shares in the company, valued at $70,970,487.12. This represents a 9.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CMO Katie Kihorany Jansen sold 59,876 shares of the stock in a transaction that occurred on Tuesday, November 12th. The shares were sold at an average price of $286.14, for a total transaction of $17,132,918.64. Following the completion of the transaction, the chief marketing officer now owns 1,017,388 shares in the company, valued at $291,115,402.32. This represents a 5.56 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 884,395 shares of company stock worth $243,101,629 over the last ninety days. Company insiders own 14.69% of the company’s stock.

Institutional Investors Weigh In On AppLovin

Several large investors have recently bought and sold shares of the company. Second Half Financial Partners LLC bought a new stake in shares of AppLovin during the third quarter worth $224,000. Eagle Asset Management Inc. increased its position in shares of AppLovin by 2,200.4% during the third quarter. Eagle Asset Management Inc. now owns 523,149 shares of the company’s stock worth $68,297,000 after acquiring an additional 500,407 shares in the last quarter. WCM Investment Management LLC increased its position in shares of AppLovin by 10.5% during the third quarter. WCM Investment Management LLC now owns 10,820,409 shares of the company’s stock worth $1,382,307,000 after acquiring an additional 1,029,009 shares in the last quarter. Oppenheimer Asset Management Inc. increased its position in shares of AppLovin by 10.0% during the third quarter. Oppenheimer Asset Management Inc. now owns 26,351 shares of the company’s stock worth $3,440,000 after acquiring an additional 2,385 shares in the last quarter. Finally, Smithbridge Asset Management Inc. DE bought a new stake in shares of AppLovin during the third quarter worth $7,086,000. Institutional investors own 41.85% of the company’s stock.

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.

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