AppLovin (NASDAQ:APP) Trading 4.4% Higher – Should You Buy?

AppLovin Co. (NASDAQ:APP) shares were up 4.4% during mid-day trading on Tuesday . The company traded as high as $357.89 and last traded at $355.68. Approximately 778,770 shares changed hands during mid-day trading, a decline of 82% from the average daily volume of 4,441,320 shares. The stock had previously closed at $340.59.

Analyst Ratings Changes

A number of analysts recently commented on APP shares. Stifel Nicolaus boosted their price objective on shares of AppLovin from $185.00 to $250.00 and gave the stock a “buy” rating in a report on Thursday, November 7th. Oppenheimer raised their price objective on AppLovin from $260.00 to $480.00 and gave the company an “outperform” rating in a research note on Monday, November 25th. Daiwa Capital Markets upgraded AppLovin from a “neutral” rating to an “outperform” rating and boosted their target price for the stock from $80.00 to $280.00 in a research report on Friday, November 8th. JPMorgan Chase & Co. raised their price target on AppLovin from $160.00 to $200.00 and gave the company a “neutral” rating in a research report on Thursday, November 7th. Finally, Jefferies Financial Group boosted their price objective on shares of AppLovin from $270.00 to $400.00 and gave the stock a “buy” rating in a research report on Tuesday, November 26th. One analyst has rated the stock with a sell rating, four have given a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $265.57.

AppLovin Trading Up 8.2 %

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 business’s fifty day moving average is $201.91 and its 200-day moving average is $126.29. The stock has a market capitalization of $123.69 billion, a PE ratio of 110.29, a P/E/G ratio of 4.15 and a beta of 2.27.

AppLovin (NASDAQ:APP) last released its quarterly earnings data on Wednesday, November 6th. The company reported $1.25 EPS for the quarter, topping analysts’ consensus estimates of $0.92 by $0.33. AppLovin had a return on equity of 122.24% and a net margin of 26.85%. The business had revenue of $1.20 billion during the quarter, compared to the consensus estimate of $1.13 billion. During the same period in the prior year, the firm posted $0.30 EPS. The business’s revenue for the quarter was up 38.6% on a year-over-year basis. As a group, analysts anticipate that AppLovin Co. will post 4.06 EPS for the current fiscal year.

Insider Activity

In other news, Director Dawson Alyssa Harvey sold 1,500 shares of the business’s stock in a transaction on Tuesday, September 10th. The shares were sold at an average price of $87.90, for a total transaction of $131,850.00. Following the transaction, the director now directly owns 10,247 shares of the company’s stock, valued at approximately $900,711.30. The trade was a 12.77 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CTO Vasily Shikin sold 5,500 shares of the firm’s stock in a transaction on Monday, September 9th. The shares were sold at an average price of $86.04, for a total transaction of $473,220.00. Following the sale, the chief technology officer now directly owns 4,536,447 shares of the company’s stock, valued at approximately $390,315,899.88. The trade was a 0.12 % 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 valued at $243,101,629 in the last three months. Corporate insiders own 14.69% of the company’s stock.

Institutional Investors Weigh In On AppLovin

A number of hedge funds have recently bought and sold shares of APP. WCM Investment Management LLC raised its stake in shares of AppLovin by 10.5% in the 3rd quarter. WCM Investment Management LLC now owns 10,820,409 shares of the company’s stock valued at $1,382,307,000 after purchasing an additional 1,029,009 shares in the last quarter. FMR LLC raised its stake in AppLovin by 622.8% during the third quarter. FMR LLC now owns 7,893,237 shares of the company’s stock valued at $1,030,462,000 after buying an additional 6,801,138 shares in the last quarter. Lone Pine Capital LLC lifted its holdings in AppLovin by 7.2% during the 2nd quarter. Lone Pine Capital LLC now owns 5,702,438 shares of the company’s stock worth $474,557,000 after buying an additional 382,767 shares during the last quarter. State Street Corp boosted its holdings in AppLovin by 8.6% in the third 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 during the period. Finally, Geode Capital Management LLC boosted its holdings in shares of AppLovin by 12.8% in the 3rd quarter. Geode Capital Management LLC now owns 3,946,135 shares of the company’s stock valued at $514,418,000 after buying an additional 449,241 shares during the period. Institutional investors and hedge funds 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.