AppLovin (NASDAQ:APP) Price Target Raised to $530.00 at Jefferies Financial Group

AppLovin (NASDAQ:APP - Get Free Report) had its target price hoisted by equities researchers at Jefferies Financial Group from $460.00 to $530.00 in a note issued to investors on Thursday,Benzinga reports. The firm currently has a "buy" rating on the stock. Jefferies Financial Group's price objective would indicate a potential upside of 61.20% from the stock's previous close.

Several other research firms have also issued reports on APP. HSBC set a $436.00 price objective on shares of AppLovin and gave the company a "buy" rating in a research note on Wednesday, April 23rd. Benchmark reaffirmed a "buy" rating and issued a $525.00 price target on shares of AppLovin in a research report on Thursday. Piper Sandler increased their price objective on AppLovin from $425.00 to $455.00 and gave the company an "overweight" rating in a report on Thursday. JPMorgan Chase & Co. boosted their target price on AppLovin from $270.00 to $355.00 and gave the stock a "neutral" rating in a report on Thursday. Finally, Arete Research set a $200.00 price target on AppLovin in a report on Wednesday, March 5th. One analyst has rated the stock with a sell rating, three have assigned a hold rating, seventeen have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $433.85.

AppLovin Stock Down 3.2 %

Shares of AppLovin stock traded down $10.72 on Thursday, hitting $328.79. 7,749,047 shares of the company traded hands, compared to its average volume of 5,996,936. The company has a quick ratio of 2.41, a current ratio of 2.41 and a debt-to-equity ratio of 3.70. AppLovin has a 12-month low of $60.67 and a 12-month high of $525.15. The company has a 50-day moving average price of $275.55 and a 200 day moving average price of $311.59. The company has a market cap of $111.77 billion, a PE ratio of 72.42, a PEG ratio of 3.02 and a beta of 2.39.

AppLovin (NASDAQ:APP - Get Free Report) last announced its quarterly earnings results 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. The business had revenue of $1.48 billion during the quarter, compared to analyst estimates of $1.38 billion. AppLovin had a return on equity of 188.55% and a net margin of 33.54%. The firm's revenue was up 40.3% on a year-over-year basis. During the same period in the previous year, the company earned $0.67 EPS. Sell-side analysts predict that AppLovin will post 6.87 earnings per share for the current year.

Insiders Place Their Bets

In other AppLovin news, Director Herald Y. Chen sold 200,000 shares of the company's stock in a transaction dated Friday, February 28th. The shares were sold at an average price of $324.65, for a total transaction of $64,930,000.00. Following the transaction, the director now directly owns 621,209 shares in the company, valued at approximately $201,675,501.85. This represents a 24.35 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Arash Adam Foroughi sold 45,000 shares of the firm's stock in a transaction dated Friday, February 21st. The shares were sold at an average price of $422.21, for a total transaction of $18,999,450.00. Following the completion of the transaction, the chief executive officer now directly owns 2,914,492 shares in the company, valued at $1,230,527,667.32. This trade represents a 1.52 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 306,900 shares of company stock valued at $106,401,841. 14.69% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the stock. Fuller & Thaler Asset Management Inc. acquired a new stake in shares of AppLovin during the fourth quarter worth $25,000. GHP Investment Advisors Inc. bought a new position in AppLovin during the fourth quarter worth about $25,000. Riverview Trust Co raised its position in shares of 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 acquiring an additional 82 shares during the period. Tucker Asset Management LLC acquired a new stake in shares of AppLovin in the 4th quarter valued at approximately $28,000. Finally, Hemington Wealth Management boosted its stake in AppLovin by 78.4% during the 4th quarter. Hemington Wealth Management now owns 91 shares of the company's stock worth $29,000 after acquiring an additional 40 shares during the last quarter. Institutional investors and hedge funds own 41.85% of the company's stock.

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.