AppLovin Corporation (NASDAQ:APP) Receives Average Rating of "Moderate Buy" from Brokerages

Key Points

• AppLovin Corporation has received an average rating of "Moderate Buy" from 27 analysts, with target prices ranging from $500 to $740.
• Insiders have sold over 1.1 million shares of AppLovin stock in recent months, indicating a significant decrease in their ownership levels.
• AppLovin reported a 77.1% year-over-year revenue growth for the last quarter, achieving an EPS of $2.26, surpassing analyst expectations.

AppLovin Corporation (NASDAQ:APP - Get Free Report) has received an average recommendation of "Moderate Buy" from the twenty-seven analysts that are covering the firm, Marketbeat reports. One analyst has rated the stock with a sell recommendation, four have assigned a hold recommendation, twenty-one have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average 12-month price objective among brokers that have covered the stock in the last year is $600.5909.

A number of research firms recently commented on APP. BTIG Research boosted their target price on AppLovin from $547.00 to $664.00 and gave the stock a "buy" rating in a research report on Monday, September 15th. Piper Sandler boosted their target price on AppLovin from $500.00 to $740.00 and gave the stock an "overweight" rating in a research report on Friday, September 26th. Royal Bank Of Canada began coverage on AppLovin in a research report on Monday, October 13th. They issued an "outperform" rating and a $700.00 target price on the stock. Wedbush boosted their target price on AppLovin from $725.00 to $745.00 and gave the stock an "outperform" rating in a research report on Monday, October 6th. Finally, Oppenheimer set a $740.00 target price on AppLovin in a research report on Tuesday, October 7th.

Insider Buying and Selling

In other AppLovin news, Director Dawson Alyssa Harvey sold 350 shares of the company's stock in a transaction that occurred on Friday, September 5th. The stock was sold at an average price of $487.97, for a total transaction of $170,789.50. Following the sale, the director directly owned 3,150 shares in the company, valued at $1,537,105.50. This represents a 10.00% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, insider Victoria Valenzuela sold 35,000 shares of the company's stock in a transaction that occurred on Thursday, September 4th. The shares were sold at an average price of $502.23, for a total value of $17,578,050.00. Following the sale, the insider owned 269,955 shares in the company, valued at approximately $135,579,499.65. This trade represents a 11.48% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 1,156,788 shares of company stock valued at $514,863,333. 13.66% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On AppLovin

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Revolve Wealth Partners LLC purchased a new stake in shares of AppLovin in the fourth quarter worth approximately $294,000. Bison Wealth LLC purchased a new stake in shares of AppLovin in the fourth quarter worth approximately $239,000. Kentucky Retirement Systems purchased a new stake in shares of AppLovin in the first quarter worth approximately $4,745,000. Kentucky Retirement Systems Insurance Trust Fund purchased a new stake in shares of AppLovin in the first quarter worth approximately $2,021,000. Finally, Cambridge Investment Research Advisors Inc. raised its holdings in shares of AppLovin by 44.9% in the first quarter. Cambridge Investment Research Advisors Inc. now owns 25,105 shares of the company's stock worth $6,652,000 after buying an additional 7,778 shares during the period. 41.85% of the stock is currently owned by hedge funds and other institutional investors.

AppLovin Price Performance

NASDAQ:APP opened at $565.94 on Tuesday. The company has a current ratio of 2.74, a quick ratio of 2.74 and a debt-to-equity ratio of 3.01. The company has a market capitalization of $191.43 billion, a P/E ratio of 80.39, a P/E/G ratio of 3.25 and a beta of 2.53. AppLovin has a 12 month low of $148.01 and a 12 month high of $745.61. The business's 50-day moving average is $558.26 and its 200 day moving average is $415.77.

AppLovin (NASDAQ:APP - Get Free Report) last posted its earnings results on Wednesday, August 6th. The company reported $2.26 EPS for the quarter, topping analysts' consensus estimates of $2.05 by $0.21. The company had revenue of $1.26 billion for the quarter, compared to the consensus estimate of $1.37 billion. AppLovin had a return on equity of 252.67% and a net margin of 45.72%.The firm's revenue for the quarter was up 77.1% on a year-over-year basis. During the same period in the previous year, the business earned $0.89 earnings per share. On average, equities research analysts forecast that AppLovin will post 6.87 earnings per share for the current fiscal year.

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.

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