AppLovin (NASDAQ:APP) Stock Price Expected to Rise, Benchmark Analyst Says

AppLovin (NASDAQ:APP) had its price objective upped by stock analysts at Benchmark from $375.00 to $525.00 in a research note issued on Thursday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. Benchmark’s target price suggests a potential upside of 8.15% from the stock’s current price.

Several other research firms also recently weighed in on APP. Macquarie lifted their target price on AppLovin from $270.00 to $450.00 and gave the stock an “outperform” rating in a research report on Friday, December 6th. Piper Sandler lifted their price target on AppLovin from $400.00 to $575.00 and gave the stock an “overweight” rating in a research report on Thursday. Wells Fargo & Company increased their price objective on AppLovin from $360.00 to $366.00 and gave the company an “overweight” rating in a report on Monday, January 13th. UBS Group upped their target price on AppLovin from $440.00 to $630.00 and gave the company a “buy” rating in a research report on Thursday. Finally, Daiwa Capital Markets raised shares of AppLovin from a “neutral” rating to an “outperform” rating and raised their price target for the stock from $80.00 to $280.00 in a research report on Friday, November 8th. Four investment analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $417.47.

AppLovin Stock Performance

Shares of AppLovin stock traded up $105.13 on Thursday, hitting $485.45. 8,761,428 shares of the company’s stock were exchanged, compared to its average volume of 4,393,789. AppLovin has a 1 year low of $45.59 and a 1 year high of $525.15. The company has a debt-to-equity ratio of 3.70, a quick ratio of 2.41 and a current ratio of 2.41. The stock has a market capitalization of $162.91 billion, a PE ratio of 148.00, a PEG ratio of 3.10 and a beta of 2.30. The company has a 50-day simple moving average of $347.30 and a 200-day simple moving average of $224.62.

AppLovin (NASDAQ:APP) last released its quarterly earnings results on Wednesday, February 12th. The company reported $1.73 EPS for the quarter, topping the consensus estimate of $1.12 by $0.61. AppLovin had a return on equity of 122.24% and a net margin of 26.85%. As a group, equities analysts anticipate that AppLovin will post 4.09 EPS for the current year.

Insider Buying and Selling

In other news, Director Craig Scott Billings sold 18,000 shares of the stock in a transaction dated Thursday, November 21st. The shares were sold at an average price of $318.94, for a total transaction of $5,740,920.00. Following the completion of the sale, the director now owns 2,987 shares in the company, valued at approximately $952,673.78. This represents a 85.77 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Dawson Alyssa Harvey sold 500 shares of the stock in a transaction that occurred on Friday, December 6th. The stock was sold at an average price of $406.27, for a total value of $203,135.00. Following the sale, the director now directly owns 6,684 shares of the company’s stock, valued at $2,715,508.68. The trade was a 6.96 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 828,991 shares of company stock valued at $267,640,144. Corporate insiders own 14.69% of the company’s stock.

Hedge Funds Weigh In On AppLovin

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. JFS Wealth Advisors LLC boosted its position in shares of AppLovin by 38.2% in the 4th quarter. JFS Wealth Advisors LLC now owns 105 shares of the company’s stock worth $34,000 after buying an additional 29 shares in the last quarter. HighPoint Advisor Group LLC increased its position in shares of AppLovin by 1.7% in the 4th quarter. HighPoint Advisor Group LLC now owns 1,822 shares of the company’s stock worth $590,000 after purchasing an additional 31 shares during the last quarter. Quadrant Capital Group LLC lifted its holdings in AppLovin by 6.7% in the fourth quarter. Quadrant Capital Group LLC now owns 526 shares of the company’s stock worth $170,000 after acquiring an additional 33 shares during the last quarter. Truvestments Capital LLC grew its stake in shares of AppLovin by 0.7% in the fourth quarter. Truvestments Capital LLC now owns 5,236 shares of the company’s stock worth $1,696,000 after purchasing an additional 38 shares in the last quarter. Finally, National Bank of Canada FI increased its stake in AppLovin by 4.0% during the 3rd quarter. National Bank of Canada FI now owns 1,003 shares of the company’s stock valued at $131,000 after buying an additional 39 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.