AppLovin Co. (NYSE:APP) Given Consensus Rating of “Buy” by Brokerages

Shares of AppLovin Co. (NYSE:APP) have been given a consensus recommendation of “Buy” by the eighteen brokerages that are currently covering the company, MarketBeat.com reports. Seventeen research analysts have rated the stock with a buy rating. The average twelve-month price target among brokerages that have updated their coverage on the stock in the last year is $105.06.

A number of analysts recently issued reports on APP shares. Cannonball Research started coverage on AppLovin in a report on Monday, January 10th. They issued a “buy” rating and a $107.00 price target for the company. Citigroup started coverage on AppLovin in a report on Wednesday, December 8th. They issued a “buy” rating and a $112.00 price target for the company. Stifel Nicolaus boosted their price target on AppLovin from $110.00 to $125.00 and gave the company a “buy” rating in a report on Friday, November 12th. Zacks Investment Research raised shares of AppLovin from a “hold” rating to a “buy” rating and set a $93.00 price objective for the company in a research note on Tuesday. Finally, Morgan Stanley raised shares of AppLovin from an “equal weight” rating to an “overweight” rating and boosted their price objective for the stock from $87.00 to $120.00 in a research note on Monday, December 13th.

In related news, CTO Vasily Shikin sold 101,800 shares of the company’s stock in a transaction on Thursday, November 11th. The stock was sold at an average price of $110.74, for a total value of $11,273,332.00. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, major shareholder Andrew Karam sold 2,800 shares of the company’s stock in a transaction on Thursday, November 4th. The shares were sold at an average price of $100.29, for a total transaction of $280,812.00. The disclosure for this sale can be found here. Over the last three months, insiders sold 9,205,026 shares of company stock worth $752,660,657. 1.90% of the stock is owned by insiders.

Hedge funds have recently bought and sold shares of the company. Banque Cantonale Vaudoise purchased a new stake in shares of AppLovin during the 2nd quarter worth about $38,000. Steward Partners Investment Advisory LLC acquired a new position in shares of AppLovin during the 2nd quarter worth about $52,000. Royal Bank of Canada acquired a new position in shares of AppLovin during the 2nd quarter worth about $62,000. Captrust Financial Advisors raised its position in shares of AppLovin by 1,951.2% during the 3rd quarter. Captrust Financial Advisors now owns 841 shares of the company’s stock worth $61,000 after purchasing an additional 800 shares during the last quarter. Finally, Citigroup Inc. acquired a new position in shares of AppLovin during the 2nd quarter worth about $102,000. 38.96% of the stock is currently owned by institutional investors and hedge funds.

Shares of NYSE APP opened at $79.01 on Friday. The company has a current ratio of 2.85, a quick ratio of 2.85 and a debt-to-equity ratio of 0.84. The stock has a 50 day moving average price of $92.57 and a 200 day moving average price of $80.88. AppLovin has a 52-week low of $49.41 and a 52-week high of $116.09.

AppLovin Company Profile

AppLovin Corporation engages in building a software-based platform for mobile app developers to enhance the marketing and monetization of their apps worldwide. The company's software solutions include AppDiscovery, a solution to automate, optimize, and manage user acquisition investments for business clients; and MAX, an in-app bidding solution that optimizes purchases of app ad inventory.

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Analyst Recommendations for AppLovin (NYSE:APP)

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