AppLovin’s (APP) Hold Rating Reaffirmed at Needham & Company LLC

AppLovin (NASDAQ:APP)‘s stock had its “hold” rating reissued by investment analysts at Needham & Company LLC in a report released on Thursday, Benzinga reports.

A number of other research firms also recently commented on APP. Oppenheimer boosted their target price on shares of AppLovin from $70.00 to $85.00 and gave the stock an “outperform” rating in a report on Monday, April 8th. BTIG Research boosted their price target on shares of AppLovin from $65.00 to $87.00 and gave the company a “buy” rating in a report on Tuesday, April 9th. The Goldman Sachs Group boosted their price target on shares of AppLovin from $73.00 to $100.00 and gave the company a “buy” rating in a report on Thursday. Morgan Stanley boosted their price target on shares of AppLovin from $55.00 to $70.00 and gave the company an “equal weight” rating in a report on Tuesday, April 16th. Finally, Jefferies Financial Group initiated coverage on shares of AppLovin in a research note on Thursday, May 2nd. They issued a “buy” rating and a $93.00 price objective on the stock. One analyst has rated the stock with a sell rating, five have issued a hold rating and twelve have given a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $66.72.

AppLovin Price Performance

Shares of NASDAQ:APP traded up $8.10 during trading on Thursday, reaching $82.10. The company had a trading volume of 2,729,111 shares, compared to its average volume of 4,013,593. The firm’s fifty day moving average is $69.60 and its 200 day moving average is $51.97. The firm has a market capitalization of $27.05 billion, a PE ratio of 82.10, a price-to-earnings-growth ratio of 1.48 and a beta of 1.85. AppLovin has a twelve month low of $17.57 and a twelve month high of $85.40. The company has a debt-to-equity ratio of 2.31, a quick ratio of 1.71 and a current ratio of 1.71.

AppLovin (NASDAQ:APP) last released its earnings results on Wednesday, May 8th. The company reported $0.67 EPS for the quarter, topping analysts’ consensus estimates of $0.57 by $0.10. AppLovin had a net margin of 10.84% and a return on equity of 24.69%. The business had revenue of $1.06 billion for the quarter, compared to the consensus estimate of $973.70 million. During the same period in the previous year, the firm earned ($0.01) EPS. The business’s revenue for the quarter was up 47.9% on a year-over-year basis. On average, equities analysts forecast that AppLovin will post 2.54 EPS for the current year.

Insider Buying and Selling

In related news, insider Victoria Valenzuela sold 50,000 shares of the stock in a transaction dated 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 completion of the transaction, the insider now owns 471,560 shares of the company’s stock, valued at $35,371,715.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, Director Craig Scott Billings sold 5,550 shares of the stock in a transaction that occurred on Tuesday, February 20th. The shares were 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Victoria Valenzuela sold 50,000 shares of the stock in a transaction that occurred on 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 sale, the insider now directly owns 471,560 shares in the company, valued at $35,371,715.60. The disclosure for this sale can be found here. Insiders sold 61,215 shares of company stock valued at $4,416,815 over the last quarter. Corporate insiders own 14.69% of the company’s stock.

Hedge Funds Weigh In On AppLovin

Hedge funds and other institutional investors have recently bought and sold shares of the business. FinTrust Capital Advisors LLC bought a new stake in shares of AppLovin in the 4th quarter valued at $32,000. Atlas Capital Advisors LLC acquired a new position in AppLovin in the 1st quarter worth $38,000. ORG Partners LLC increased its holdings in AppLovin by 212.0% during the 1st quarter. ORG Partners LLC now owns 624 shares of the company’s stock worth $43,000 after purchasing an additional 424 shares in the last quarter. Cullen Frost Bankers Inc. acquired a new stake in shares of AppLovin in the 3rd quarter valued at about $44,000. Finally, Quarry LP acquired a new position in shares of AppLovin during the fourth quarter worth about $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.