AppLovin (NASDAQ:APP) Given New $160.00 Price Target at JPMorgan Chase & Co.

by · The Markets Daily

AppLovin (NASDAQ:APP – Free Report) had its target price hoisted by JPMorgan Chase & Co. from $57.00 to $160.00 in a research note published on Tuesday, Benzinga reports. They currently have a neutral rating on the stock.

A number of other research firms have also weighed in on APP. Oppenheimer reiterated an “outperform” rating and issued a $105.00 price target (up from $97.00) on shares of AppLovin in a research report on Thursday, August 8th. UBS Group raised shares of AppLovin from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $100.00 to $145.00 in a report on Tuesday, September 17th. Bank of America boosted their target price on shares of AppLovin from $100.00 to $120.00 and gave the stock a “buy” rating in a report on Wednesday, September 11th. Macquarie reissued an “outperform” rating and issued a $150.00 target price (up previously from $115.00) on shares of AppLovin in a report on Wednesday, September 25th. Finally, Loop Capital started coverage on shares of AppLovin in a report on Tuesday. They issued a “buy” rating and a $181.00 target price on the stock. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and eleven have issued a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $129.58.

View Our Latest Research Report on APP

AppLovin Stock Up 1.7 %

APP opened at $161.63 on Tuesday. 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 firm has a 50 day moving average price of $119.72 and a 200-day moving average price of $93.11. AppLovin has a twelve month low of $34.45 and a twelve month high of $165.38. The stock has a market capitalization of $53.18 billion, a price-to-earnings ratio of 96.21, a PEG ratio of 2.07 and a beta of 1.92.

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

Insider Activity

In other news, CMO Katie Kihorany Jansen sold 72,307 shares of the stock in a transaction on Monday, August 12th. The shares were sold at an average price of $75.68, for a total value of $5,472,193.76. Following the sale, the chief marketing officer now owns 1,164,396 shares of the company’s stock, valued at approximately $88,121,489.28. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In other news, Director Dawson Alyssa Harvey sold 1,500 shares of the company’s stock in a transaction dated 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 directly 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 transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CMO Katie Kihorany Jansen sold 72,307 shares of the company’s stock in a transaction dated Monday, August 12th. The stock was sold at an average price of $75.68, for a total transaction of $5,472,193.76. Following the completion of the transaction, the chief marketing officer now owns 1,164,396 shares in the company, valued at approximately $88,121,489.28. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 610,094 shares of company stock valued at $51,022,478. 14.69% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in APP. DT Investment Partners LLC bought a new position in shares of AppLovin in the third quarter worth about $27,000. Raleigh Capital Management Inc. bought a new position in shares of AppLovin in the third quarter worth about $29,000. Quest Partners LLC bought a new position in shares of AppLovin in the second quarter worth about $33,000. Oliver Lagore Vanvalin Investment Group bought a new position in shares of AppLovin in the second quarter worth about $34,000. Finally, Covestor Ltd grew its holdings in shares of AppLovin by 85.8% in the first quarter. Covestor Ltd now owns 511 shares of the company’s stock worth $35,000 after purchasing an additional 236 shares during the last quarter. 41.85% of the stock is currently owned by institutional investors.

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.

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