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Analysts Set AppLovin Corporation (NASDAQ:APP) Price Target at $438.43

AppLovin logo with Business Services background

AppLovin Corporation (NASDAQ:APP - Get Free Report) has been assigned an average rating of "Moderate Buy" from the twenty-three brokerages that are covering the company, Marketbeat.com reports. One analyst has rated the stock with a sell recommendation, three have issued a hold recommendation, sixteen have issued a buy recommendation and three have given a strong buy recommendation to the company. The average 1 year price objective among brokers that have issued a report on the stock in the last year is $438.43.

APP has been the topic of a number of recent research reports. UBS Group upped their price objective on shares of AppLovin from $450.00 to $475.00 and gave the stock a "buy" rating in a report on Thursday, May 8th. Wedbush upgraded shares of AppLovin to a "strong-buy" rating in a report on Tuesday, July 1st. Piper Sandler reiterated an "overweight" rating and set a $470.00 price target (up previously from $455.00) on shares of AppLovin in a report on Thursday, June 26th. Oppenheimer reiterated an "outperform" rating and set a $500.00 price target (down previously from $560.00) on shares of AppLovin in a report on Thursday, May 8th. Finally, Scotiabank upgraded shares of AppLovin to a "strong-buy" rating in a report on Tuesday, July 8th.

Get Our Latest Stock Report on AppLovin

AppLovin Stock Up 0.7%

APP traded up $2.54 during midday trading on Friday, reaching $355.50. The company's stock had a trading volume of 3,700,940 shares, compared to its average volume of 6,245,685. The firm has a market capitalization of $120.30 billion, a price-to-earnings ratio of 64.17, a PEG ratio of 2.12 and a beta of 2.42. The company has a current ratio of 1.68, a quick ratio of 1.68 and a debt-to-equity ratio of 6.10. AppLovin has a 1 year low of $60.67 and a 1 year high of $525.15. The stock's 50-day moving average is $360.28 and its 200-day moving average is $334.47.

AppLovin (NASDAQ:APP - Get Free Report) last announced its quarterly earnings data on Wednesday, May 7th. The company reported $1.67 earnings per share for the quarter, topping analysts' consensus estimates of $1.45 by $0.22. The business had revenue of $1.48 billion for the quarter, compared to analysts' expectations of $1.38 billion. AppLovin had a net margin of 37.38% and a return on equity of 224.65%. The business's revenue was up 40.3% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.67 earnings per share. As a group, research analysts expect that AppLovin will post 6.87 EPS for the current year.

Insider Buying and Selling at AppLovin

In other AppLovin news, Director Herald Y. Chen sold 171,420 shares of the stock in a transaction that occurred on Tuesday, May 13th. The shares were sold at an average price of $373.77, for a total value of $64,071,653.40. Following the transaction, the director directly owned 221,209 shares in the company, valued at approximately $82,681,287.93. This trade represents a 43.66% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Herald Y. Chen sold 400,000 shares of the firm's stock in a transaction on Wednesday, May 14th. The shares were sold at an average price of $374.61, for a total transaction of $149,844,000.00. Following the sale, the director owned 221,209 shares in the company, valued at $82,867,103.49. The trade was a 64.39% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 1,212,968 shares of company stock valued at $455,062,980 over the last three months. Insiders own 13.66% of the company's stock.

Institutional Trading of AppLovin

Several institutional investors and hedge funds have recently modified their holdings of the company. Diversified Enterprises LLC raised its position in shares of AppLovin by 3.3% during the 2nd quarter. Diversified Enterprises LLC now owns 1,444 shares of the company's stock valued at $506,000 after purchasing an additional 46 shares during the period. Independent Wealth Network Inc. purchased a new position in AppLovin during the second quarter valued at $201,000. Signaturefd LLC grew its stake in AppLovin by 6.6% during the second quarter. Signaturefd LLC now owns 3,762 shares of the company's stock valued at $1,317,000 after acquiring an additional 232 shares in the last quarter. ORG Partners LLC grew its stake in AppLovin by 146.5% during the second quarter. ORG Partners LLC now owns 106 shares of the company's stock valued at $36,000 after acquiring an additional 63 shares in the last quarter. Finally, ST Germain D J Co. Inc. purchased a new position in AppLovin during the second quarter valued at $134,000. 41.85% of the stock is currently owned by institutional investors.

AppLovin Company Profile

(Get Free Report

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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