AppLovin Corporation (NASDAQ:APP) Receives Consensus Rating of "Moderate Buy" from Analysts

Shares of AppLovin Corporation (NASDAQ:APP - Get Free Report) have received a consensus rating of "Moderate Buy" from the twenty-two ratings firms that are currently covering the company, Marketbeat.com reports. One research analyst has rated the stock with a sell rating, three have assigned a hold rating, seventeen have given a buy rating and one has issued a strong buy rating on the company. The average twelve-month target price among brokers that have issued a report on the stock in the last year is $438.10.

A number of brokerages have recently commented on APP. Needham & Company LLC reiterated a "hold" rating on shares of AppLovin in a report on Wednesday, May 28th. FBN Securities assumed coverage on AppLovin in a research report on Friday, March 28th. They set an "outperform" rating and a $385.00 target price for the company. Morgan Stanley upped their price target on AppLovin from $420.00 to $460.00 and gave the company an "overweight" rating in a research report on Monday, June 9th. UBS Group increased their price target on AppLovin from $450.00 to $475.00 and gave the company a "buy" rating in a research note on Thursday, May 8th. Finally, Arete Research set a $200.00 price objective on AppLovin in a research note on Wednesday, March 5th.

AppLovin Price Performance

Shares of APP opened at $360.45 on Wednesday. The company has a quick ratio of 1.68, a current ratio of 1.68 and a debt-to-equity ratio of 6.10. The stock has a market cap of $121.97 billion, a PE ratio of 65.06, a PEG ratio of 2.20 and a beta of 2.53. AppLovin has a 12-month low of $60.67 and a 12-month high of $525.15. The business has a 50-day simple moving average of $328.71 and a two-hundred day simple moving average of $334.64.

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 the consensus estimate 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 during the quarter, compared to the consensus estimate of $1.38 billion. During the same quarter in the prior year, the firm posted $0.67 earnings per share. The firm's revenue was up 40.3% compared to the same quarter last year. Analysts anticipate that AppLovin will post 6.87 earnings per share for the current fiscal year.

Insider Activity

In other AppLovin news, CEO Arash Adam Foroughi sold 33,700 shares of the business's stock in a transaction on Tuesday, May 20th. The shares were sold at an average price of $365.54, for a total transaction of $12,318,698.00. Following the completion of the sale, the chief executive officer now owns 2,760,363 shares in the company, valued at approximately $1,009,023,091.02. The trade was a 1.21% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Dawson Alyssa Harvey sold 513 shares of AppLovin stock in a transaction dated Friday, June 6th. The shares were sold at an average price of $420.30, for a total transaction of $215,613.90. Following the transaction, the director now owns 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. Over the last 90 days, insiders have sold 1,212,968 shares of company stock worth $455,062,980. Company insiders own 13.66% of the company's stock.

Institutional Trading of AppLovin

Institutional investors and hedge funds have recently modified their holdings of the stock. Fuller & Thaler Asset Management Inc. bought a new position in shares of AppLovin during the fourth quarter valued at about $25,000. Riverview Trust Co increased its stake in AppLovin by 1,640.0% in the 4th quarter. Riverview Trust Co now owns 87 shares of the company's stock valued at $28,000 after buying an additional 82 shares during the last quarter. Tucker Asset Management LLC bought a new position in shares of AppLovin during the 4th quarter worth approximately $28,000. Smithfield Trust Co purchased a new position in shares of AppLovin in the 4th quarter worth approximately $32,000. Finally, Atala Financial Inc bought a new position in shares of AppLovin in the first quarter valued at approximately $26,000. 41.85% of the stock is owned by hedge funds and other 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.

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