AppLovin (NASDAQ:APP) Now Covered by Analysts at Jefferies Financial Group

Analysts at Jefferies Financial Group initiated coverage on shares of AppLovin (NASDAQ:APP) in a research report issued to clients and investors on Thursday, Marketbeat.com reports. The firm set a “buy” rating and a $93.00 price target on the stock. Jefferies Financial Group’s target price would suggest a potential upside of 33.35% from the company’s current price.

Several other equities analysts have also weighed in on the stock. The Goldman Sachs Group upped their price objective on shares of AppLovin from $59.00 to $73.00 and gave the company a “buy” rating in a report on Thursday, February 15th. Morgan Stanley increased their price target on AppLovin from $55.00 to $70.00 and gave the stock an “equal weight” rating in a report on Tuesday, April 16th. Oppenheimer boosted their price objective on AppLovin from $70.00 to $85.00 and gave the company an “outperform” rating in a report on Monday, April 8th. Daiwa Capital Markets initiated coverage on shares of AppLovin in a research report on Monday, April 15th. They issued a “neutral” rating and a $80.00 price target for the company. Finally, BTIG Research upped their price objective on shares of AppLovin from $65.00 to $87.00 and gave the stock a “buy” rating in a report on Tuesday, April 9th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and twelve have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $63.60.

AppLovin Stock Down 1.2 %

Shares of APP opened at $69.74 on Thursday. AppLovin has a 12 month low of $15.70 and a 12 month high of $79.55. 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 company has a market capitalization of $23.85 billion, a PE ratio of 69.74, a PEG ratio of 1.42 and a beta of 1.85. The stock’s 50-day moving average price is $67.66 and its two-hundred day moving average price is $50.56.

AppLovin (NASDAQ:APP) last posted its quarterly earnings data on Wednesday, February 14th. The company reported $0.49 earnings per share for the quarter, topping the consensus estimate of $0.35 by $0.14. The company had revenue of $953.26 million during the quarter, compared to analysts’ expectations of $928.66 million. AppLovin had a net margin of 10.84% and a return on equity of 24.69%. AppLovin’s revenue for the quarter was up 35.7% compared to the same quarter last year. During the same period in the prior year, the company posted ($0.21) earnings per share. On average, analysts anticipate that AppLovin will post 2.49 EPS for the current year.

Insiders Place Their Bets

In related news, insider Victoria Valenzuela sold 50,000 shares of the business’s stock in a transaction dated Thursday, April 4th. The stock was sold at an average price of $75.01, for a total transaction of $3,750,500.00. Following the completion of the transaction, the insider now directly owns 471,560 shares in the company, valued at $35,371,715.60. The transaction was disclosed in a document filed with the SEC, which is available through this link. In other news, insider Victoria Valenzuela sold 50,000 shares of the stock in a transaction on Thursday, April 4th. The shares were sold at an average price of $75.01, for a total value of $3,750,500.00. Following the transaction, the insider now owns 471,560 shares of the company’s stock, valued at approximately $35,371,715.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director Craig Scott Billings sold 5,550 shares of AppLovin stock in a transaction on Tuesday, February 20th. The stock was sold at an average price of $58.33, for a total transaction of $323,731.50. Following the sale, the director now directly owns 12,739 shares of the company’s stock, valued at $743,065.87. The disclosure for this sale can be found here. Insiders have sold 61,215 shares of company stock worth $4,416,815 in the last three months. 12.43% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On AppLovin

Several institutional investors have recently modified their holdings of the company. Quantbot Technologies LP boosted its position in AppLovin by 143.1% during the third quarter. Quantbot Technologies LP now owns 116,917 shares of the company’s stock valued at $4,672,000 after buying an additional 68,822 shares during the period. Ameriprise Financial Inc. grew its position in AppLovin by 4,805.9% during the 3rd quarter. Ameriprise Financial Inc. now owns 1,402,657 shares of the company’s stock worth $56,050,000 after acquiring an additional 1,374,066 shares during the last quarter. Black Swift Group LLC purchased a new position in AppLovin in the 3rd quarter worth approximately $999,000. Vanguard Group Inc. lifted its position in AppLovin by 8.5% in the third quarter. Vanguard Group Inc. now owns 18,099,233 shares of the company’s stock valued at $723,245,000 after purchasing an additional 1,411,453 shares during the last quarter. Finally, Mackenzie Financial Corp purchased a new stake in shares of AppLovin during the fourth quarter valued at approximately $2,367,000. 41.85% of the stock is currently 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.