AppLovin Co. (NASDAQ:APP) Receives $59.31 Consensus Target Price from Analysts

Shares of AppLovin Co. (NASDAQ:APP) have been assigned a consensus rating of “Moderate Buy” from the seventeen ratings firms that are currently covering the company, MarketBeat.com reports. One investment analyst has rated the stock with a sell recommendation, four have assigned a hold recommendation and twelve have given a buy recommendation to the company. The average twelve-month target price among brokers that have issued a report on the stock in the last year is $59.31.

Several research firms recently commented on APP. The Goldman Sachs Group raised their target price on AppLovin from $59.00 to $73.00 and gave the company a “buy” rating in a research report on Thursday, February 15th. Wedbush raised their target price on shares of AppLovin from $67.00 to $87.00 and gave the company an “outperform” rating in a research note on Thursday, April 11th. BTIG Research raised their target price on shares of AppLovin from $65.00 to $87.00 and gave the company a “buy” rating in a research note on Tuesday, April 9th. Morgan Stanley raised their price objective on shares of AppLovin from $55.00 to $70.00 and gave the company an “equal weight” rating in a research note on Tuesday, April 16th. Finally, Oppenheimer raised their price objective on shares of AppLovin from $70.00 to $85.00 and gave the company an “outperform” rating in a research note on Monday, April 8th.

AppLovin Stock Up 4.9 %

Shares of AppLovin stock opened at $71.19 on Friday. The company has a current ratio of 1.71, a quick ratio of 1.71 and a debt-to-equity ratio of 2.31. The business’s 50 day simple moving average is $66.18 and its 200-day simple moving average is $49.46. The stock has a market capitalization of $24.35 billion, a price-to-earnings ratio of 71.19, a PEG ratio of 1.35 and a beta of 1.90. AppLovin has a twelve month low of $15.41 and a twelve month high of $79.55.

AppLovin (NASDAQ:APP) last released its quarterly earnings data on Wednesday, February 14th. The company reported $0.49 earnings per share for the quarter, topping analysts’ consensus estimates of $0.35 by $0.14. AppLovin had a net margin of 10.84% and a return on equity of 24.69%. The business had revenue of $953.26 million for the quarter, compared to analysts’ expectations of $928.66 million. During the same quarter last year, the company earned ($0.21) EPS. The company’s revenue for the quarter was up 35.7% compared to the same quarter last year. Equities research analysts forecast that AppLovin will post 2.47 earnings per share for the current year.

Insider Activity

In other news, CFO Matthew Stumpf sold 2,775 shares of the firm’s stock in a transaction dated Thursday, March 14th. The stock was sold at an average price of $63.30, for a total value of $175,657.50. Following the sale, the chief financial officer now directly owns 362,264 shares of the company’s stock, valued at $22,931,311.20. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, CFO Matthew Stumpf sold 2,775 shares of the business’s stock in a transaction on Thursday, March 14th. The stock was sold at an average price of $63.30, for a total value of $175,657.50. Following the sale, the chief financial officer now owns 362,264 shares of the company’s stock, valued at approximately $22,931,311.20. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Victoria Valenzuela sold 50,000 shares of AppLovin stock in a transaction dated Thursday, April 4th. The shares were sold at an average price of $75.01, for a total transaction of $3,750,500.00. Following the transaction, the insider now directly owns 471,560 shares of the company’s stock, valued at $35,371,715.60. The disclosure for this sale can be found here. In the last quarter, insiders have sold 61,215 shares of company stock valued at $4,416,815. Insiders own 12.43% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. FinTrust Capital Advisors LLC bought a new stake in shares of AppLovin during the fourth quarter worth approximately $32,000. BluePath Capital Management LLC bought a new stake in shares of AppLovin during the 3rd quarter valued at $33,000. Castleview Partners LLC bought a new stake in shares of AppLovin during the 3rd quarter valued at $38,000. Atlas Capital Advisors LLC bought a new stake in shares of AppLovin during the 1st quarter valued at $38,000. Finally, Cullen Frost Bankers Inc. bought a new stake in shares of AppLovin during the 3rd quarter valued at $44,000. 41.85% of the stock is owned by institutional investors.

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.