AppLovin (NASDAQ:APP) Stock Price Expected to Rise, JPMorgan Chase & Co. Analyst Says

AppLovin (NASDAQ:APP - Get Free Report) had its price target boosted by stock analysts at JPMorgan Chase & Co. from $270.00 to $355.00 in a research report issued on Thursday,Benzinga reports. The brokerage presently has a "neutral" rating on the stock. JPMorgan Chase & Co.'s price objective would suggest a potential upside of 7.97% from the stock's previous close.

APP has been the topic of several other research reports. UBS Group cut their price target on AppLovin from $630.00 to $450.00 and set a "buy" rating on the stock in a report on Friday, April 11th. Jefferies Financial Group boosted their price target on shares of AppLovin from $400.00 to $425.00 and gave the company a "buy" rating in a research note on Wednesday, January 8th. Piper Sandler raised their price objective on shares of AppLovin from $425.00 to $455.00 and gave the company an "overweight" rating in a research note on Thursday. Arete Research set a $200.00 target price on shares of AppLovin in a research report on Wednesday, March 5th. Finally, HSBC set a $436.00 price target on shares of AppLovin and gave the company a "buy" rating in a research report on Wednesday, April 23rd. 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 issued a strong buy rating to the stock. According to MarketBeat.com, AppLovin currently has an average rating of "Moderate Buy" and a consensus price target of $433.85.

AppLovin Price Performance

AppLovin stock traded down $10.72 during trading hours on Thursday, reaching $328.79. 7,749,047 shares of the stock were exchanged, compared to its average volume of 5,992,584. The stock has a 50 day moving average of $275.55 and a two-hundred day moving average of $310.54. The company has a market cap of $111.77 billion, a P/E ratio of 72.42, a price-to-earnings-growth ratio of 3.02 and a beta of 2.39. The company has a current ratio of 2.41, a quick ratio of 2.41 and a debt-to-equity ratio of 3.70. AppLovin has a twelve month low of $60.67 and a twelve month high of $525.15.

AppLovin (NASDAQ:APP - Get Free Report) last released 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. AppLovin had a net margin of 33.54% and a return on equity of 188.55%. The firm had revenue of $1.48 billion during the quarter, compared to the consensus estimate of $1.38 billion. During the same quarter last year, the firm earned $0.67 earnings per share. The company's revenue for the quarter was up 40.3% on a year-over-year basis. Equities analysts expect that AppLovin will post 6.87 EPS for the current fiscal year.

Insider Activity at AppLovin

In related news, CTO Vasily Shikin sold 17,500 shares of AppLovin stock in a transaction dated Monday, March 10th. The stock was sold at an average price of $241.65, for a total transaction of $4,228,875.00. Following the completion of the sale, the chief technology officer now owns 88,389 shares of the company's stock, valued at $21,359,201.85. The trade was a 16.53 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Arash Adam Foroughi sold 45,000 shares of the company's stock in a transaction on 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 sale, 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 ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 306,900 shares of company stock worth $106,401,841. Company insiders own 14.69% of the company's stock.

Hedge Funds Weigh In On AppLovin

Large investors have recently made changes to their positions in the company. GHP Investment Advisors Inc. purchased a new position in shares of AppLovin in the fourth quarter valued at approximately $25,000. Fuller & Thaler Asset Management Inc. purchased a new stake in shares of AppLovin in the fourth quarter valued at approximately $25,000. Atala Financial Inc acquired a new stake in shares of AppLovin in the first quarter valued at approximately $26,000. Alpine Bank Wealth Management acquired a new position in AppLovin during the first quarter worth $27,000. Finally, Riverview Trust Co grew its holdings 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 in the last quarter. 41.85% of the stock is currently owned by institutional investors and hedge funds.

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.