AppLovin (NASDAQ:APP) Price Target Raised to $575.00

AppLovin (NASDAQ:APP) had its price target increased by Piper Sandler from $400.00 to $575.00 in a research report report published on Thursday,Benzinga reports. Piper Sandler currently has an overweight rating on the stock.

A number of other research firms have also weighed in on APP. Oppenheimer reiterated an “outperform” rating and issued a $480.00 price objective on shares of AppLovin in a research note on Tuesday, December 10th. Daiwa Capital Markets raised AppLovin from a “neutral” rating to an “outperform” rating and increased their price target for the stock from $80.00 to $280.00 in a research report on Friday, November 8th. Wells Fargo & Company boosted 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 raised their target price on AppLovin from $440.00 to $630.00 and gave the stock a “buy” rating in a report on Thursday. Finally, Citigroup boosted their price target on AppLovin from $335.00 to $460.00 and gave the company a “buy” rating in a report on Thursday, December 5th. Four research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $422.18.

AppLovin Stock Up 24.0 %

AppLovin stock opened at $471.67 on Thursday. The business’s 50-day simple moving average is $349.15 and its two-hundred day simple moving average is $226.34. 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 company has a market cap of $158.29 billion, a PE ratio of 142.93, a PEG ratio of 3.10 and a beta of 2.30. AppLovin has a fifty-two week low of $45.59 and a fifty-two week high of $525.15.

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

Insider Transactions at AppLovin

In other AppLovin news, insider Victoria Valenzuela sold 15,971 shares of the business’s stock in a transaction that occurred on Thursday, December 19th. The stock was sold at an average price of $313.07, for a total transaction of $5,000,040.97. Following the completion of the sale, the insider now directly owns 372,205 shares in the company, valued at approximately $116,526,219.35. The trade was a 4.11 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Herald Y. Chen sold 99,000 shares of the stock in a transaction that occurred on Thursday, December 12th. The shares were sold at an average price of $329.50, for a total value of $32,620,500.00. Following the transaction, the director now directly owns 621,209 shares of the company’s stock, valued at $204,688,365.50. The trade was a 13.75 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 828,991 shares of company stock valued at $267,640,144 over the last 90 days. Corporate insiders own 14.69% of the company’s stock.

Institutional Investors Weigh In On AppLovin

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Sanctuary Advisors LLC purchased a new position in shares of AppLovin in the second quarter worth about $241,000. CWM LLC raised its holdings in AppLovin by 40.0% in the 3rd quarter. CWM LLC now owns 4,659 shares of the company’s stock valued at $608,000 after acquiring an additional 1,331 shares during the last quarter. Creative Planning lifted its stake in AppLovin by 251.2% in the 3rd quarter. Creative Planning now owns 144,883 shares of the company’s stock worth $18,914,000 after purchasing an additional 103,628 shares in the last quarter. Swedbank AB grew its position in shares of AppLovin by 24.7% in the third quarter. Swedbank AB now owns 96,455 shares of the company’s stock valued at $12,592,000 after purchasing an additional 19,100 shares in the last quarter. Finally, Vontobel Holding Ltd. increased its holdings in shares of AppLovin by 5.7% in the third quarter. Vontobel Holding Ltd. now owns 13,178 shares of the company’s stock valued at $1,720,000 after purchasing an additional 708 shares during the last quarter. Institutional investors and hedge funds own 41.85% of the company’s stock.

About AppLovin

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.