AppLovin (NASDAQ:APP) Given New $440.00 Price Target at UBS Group

AppLovin (NASDAQ:APP) had its price target raised by UBS Group from $315.00 to $440.00 in a report published on Wednesday morning,Benzinga reports. UBS Group currently has a buy rating on the stock.

Several other equities research analysts have also recently commented on APP. Daiwa Capital Markets upgraded shares of AppLovin from a “neutral” rating to an “outperform” rating and boosted their price target for the stock from $80.00 to $280.00 in a research report on Friday, November 8th. Benchmark started coverage on shares of AppLovin in a report on Friday, January 10th. They issued a “buy” rating and a $375.00 target price on the stock. Bank of America increased their target price on shares of AppLovin from $252.00 to $375.00 and gave the company a “buy” rating in a research note on Monday, November 25th. Needham & Company LLC restated a “hold” rating on shares of AppLovin in a research report on Thursday, November 7th. Finally, Oppenheimer reiterated an “outperform” rating and set a $480.00 price objective on shares of AppLovin in a research report on Tuesday, December 10th. Four analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, AppLovin has an average rating of “Moderate Buy” and a consensus target price of $355.41.

AppLovin Stock Performance

Shares of APP opened at $361.72 on Wednesday. The firm has a market capitalization of $121.39 billion, a PE ratio of 109.61, a P/E/G ratio of 2.80 and a beta of 2.29. 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 firm has a 50-day moving average price of $334.41 and a 200 day moving average price of $194.53. AppLovin has a 52-week low of $40.71 and a 52-week high of $417.64.

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

Insider Buying and Selling

In other news, CFO Herald Y. Chen sold 400 shares of the firm’s stock in a transaction on Monday, December 9th. The shares were sold at an average price of $366.16, for a total transaction of $146,464.00. Following the transaction, the chief financial officer now owns 207,649 shares in the company, valued at approximately $76,032,757.84. This trade represents a 0.19 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Arash Adam Foroughi sold 1,676 shares of the company’s stock in a transaction on Tuesday, December 10th. The stock was sold at an average price of $356.39, for a total transaction of $597,309.64. Following the completion of the sale, the chief executive officer now owns 3,058,635 shares of the company’s stock, valued at $1,090,066,927.65. This represents a 0.05 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 888,867 shares of company stock worth $284,773,062. Corporate insiders own 14.69% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in APP. Fifth Third Bancorp grew its position in shares of AppLovin by 172.2% in the fourth quarter. Fifth Third Bancorp now owns 98 shares of the company’s stock valued at $32,000 after purchasing an additional 62 shares during the last quarter. MassMutual Private Wealth & Trust FSB grew its holdings in AppLovin by 139.1% in the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 153 shares of the company’s stock valued at $50,000 after buying an additional 89 shares during the last quarter. Capital Performance Advisors LLP acquired a new stake in AppLovin in the 3rd quarter valued at approximately $25,000. Meeder Asset Management Inc. bought a new position in AppLovin in the 3rd quarter worth approximately $27,000. Finally, DT Investment Partners LLC bought a new stake in shares of AppLovin in the third quarter valued at approximately $27,000. 41.85% of the stock is owned by institutional investors.

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.