AppLovin Corporation (NASDAQ:APP) Receives $438.43 Average Target Price from Brokerages

Shares of AppLovin Corporation (NASDAQ:APP - Get Free Report) have earned an average rating of "Moderate Buy" from the twenty-three analysts that are currently covering the company, Marketbeat.com reports. One research analyst has rated the stock with a sell recommendation, three have issued a hold recommendation, sixteen have given a buy recommendation and three have issued a strong buy recommendation on the company. The average twelve-month target price among brokers that have updated their coverage on the stock in the last year is $438.43.

A number of brokerages have weighed in on APP. Needham & Company LLC restated a "hold" rating on shares of AppLovin in a research note on Thursday, June 26th. Piper Sandler restated an "overweight" rating and issued a $470.00 target price (up from $455.00) on shares of AppLovin in a research note on Thursday, June 26th. FBN Securities began coverage on AppLovin in a research note on Friday, March 28th. They issued an "outperform" rating and a $385.00 target price on the stock. The Goldman Sachs Group upped their target price on AppLovin from $335.00 to $435.00 and gave the stock a "neutral" rating in a research note on Friday, May 9th. Finally, Morgan Stanley upped their target price on AppLovin from $420.00 to $460.00 and gave the stock an "overweight" rating in a research note on Monday, June 9th.

Insider Activity at AppLovin

In related news, Director Barbara Messing sold 1,500 shares of the stock in a transaction dated Wednesday, June 11th. The stock was sold at an average price of $382.46, for a total transaction of $573,690.00. Following the completion of the sale, the director directly owned 9,510 shares in the company, valued at $3,637,194.60. This represents a 13.62% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Dawson Alyssa Harvey sold 513 shares of the stock in a transaction dated Friday, June 6th. The shares were sold at an average price of $420.30, for a total value of $215,613.90. Following the sale, the director owned 3,451 shares of the company's stock, valued at $1,450,455.30. This represents a 12.94% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 1,212,968 shares of company stock worth $455,062,980 over the last three months. Corporate insiders own 13.66% of the company's stock.

Institutional Investors Weigh In On AppLovin

Several institutional investors and hedge funds have recently bought and sold shares of the business. HighPoint Advisor Group LLC lifted its holdings in AppLovin by 1.7% in the 4th quarter. HighPoint Advisor Group LLC now owns 1,822 shares of the company's stock worth $590,000 after buying an additional 31 shares during the period. Quadrant Capital Group LLC raised its position in shares of AppLovin by 6.7% in the 4th quarter. Quadrant Capital Group LLC now owns 526 shares of the company's stock worth $170,000 after acquiring an additional 33 shares in the last quarter. Forum Financial Management LP raised its position in shares of AppLovin by 0.9% in the 4th quarter. Forum Financial Management LP now owns 3,776 shares of the company's stock worth $1,223,000 after acquiring an additional 33 shares in the last quarter. Vestcor Inc raised its position in shares of AppLovin by 0.8% in the 1st quarter. Vestcor Inc now owns 4,108 shares of the company's stock worth $1,088,000 after acquiring an additional 33 shares in the last quarter. Finally, GSG Advisors LLC raised its position in shares of AppLovin by 0.3% in the 1st quarter. GSG Advisors LLC now owns 10,256 shares of the company's stock worth $2,820,000 after acquiring an additional 35 shares in the last quarter. Hedge funds and other institutional investors own 41.85% of the company's stock.

AppLovin Stock Performance

Shares of NASDAQ:APP traded down $11.22 during midday trading on Friday, reaching $335.10. 3,575,879 shares of the company traded hands, compared to its average volume of 6,254,586. The company has a quick ratio of 1.68, a current ratio of 1.68 and a debt-to-equity ratio of 6.10. AppLovin has a 12 month low of $60.67 and a 12 month high of $525.15. The firm has a market capitalization of $113.39 billion, a price-to-earnings ratio of 60.49, a price-to-earnings-growth ratio of 2.00 and a beta of 2.42. The firm's fifty day moving average price is $358.23 and its two-hundred day moving average price is $334.28.

AppLovin (NASDAQ:APP - Get Free Report) last released its quarterly earnings data on Wednesday, May 7th. The company reported $1.67 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.45 by $0.22. AppLovin had a return on equity of 224.65% and a net margin of 37.38%. The company had revenue of $1.48 billion for the quarter, compared to analyst estimates of $1.38 billion. During the same period in the previous year, the company posted $0.67 EPS. The firm's revenue for the quarter was up 40.3% compared to the same quarter last year. On average, equities analysts expect that AppLovin will post 6.87 earnings per share for the current year.

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.