AppLovin (NASDAQ:APP) Price Target Raised to $455.00

AppLovin (NASDAQ:APP - Free Report) had its price objective boosted by Piper Sandler from $425.00 to $455.00 in a research report sent to investors on Thursday,Benzinga reports. They currently have an overweight rating on the stock.

A number of other equities research analysts have also weighed in on the company. Arete Research set a $200.00 price objective on AppLovin in a research report on Wednesday, March 5th. Needham & Company LLC reissued a "hold" rating on shares of AppLovin in a research report on Monday, April 21st. Oppenheimer reiterated an "outperform" rating and issued a $500.00 price target (down from $560.00) on shares of AppLovin in a research note on Thursday. FBN Securities initiated coverage on AppLovin in a report on Friday, March 28th. They issued an "outperform" rating and a $385.00 target price on the stock. Finally, HSBC set a $436.00 price objective on shares of AppLovin and gave the company a "buy" rating in a research report on Wednesday, April 23rd. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, seventeen have given a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $433.85.

AppLovin Price Performance

APP stock traded down $10.72 during mid-day trading on Thursday, hitting $328.79. 7,749,047 shares of the stock were exchanged, compared to its average volume of 5,996,936. The company has a debt-to-equity ratio of 3.70, a current ratio of 2.41 and a quick ratio of 2.41. The stock has a market capitalization of $111.77 billion, a price-to-earnings ratio of 72.42, a PEG ratio of 3.02 and a beta of 2.39. The business has a fifty day moving average price of $275.55 and a 200 day moving average price of $311.59. AppLovin has a 12 month low of $60.67 and a 12 month high of $525.15.

AppLovin (NASDAQ:APP - Get Free Report) last released its quarterly earnings data on Wednesday, May 7th. The company reported $1.67 EPS for the quarter, topping the consensus estimate of $1.45 by $0.22. AppLovin had a return on equity of 188.55% and a net margin of 33.54%. The firm had revenue of $1.48 billion for the quarter, compared to the consensus estimate of $1.38 billion. During the same quarter in the previous year, the business earned $0.67 earnings per share. The company's quarterly revenue was up 40.3% on a year-over-year basis. On average, sell-side analysts anticipate that AppLovin will post 6.87 EPS for the current year.

Insider Transactions at AppLovin

In related news, Director Herald Y. Chen sold 200,000 shares of AppLovin stock in a transaction dated Friday, February 28th. The stock was sold at an average price of $324.65, for a total value of $64,930,000.00. Following the completion of the sale, the director now directly owns 621,209 shares in the company, valued at $201,675,501.85. The trade was a 24.35 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CTO Vasily Shikin sold 17,500 shares of the company's stock in a transaction that occurred on 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 directly owns 88,389 shares of the company's stock, valued at $21,359,201.85. The trade was a 16.53 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 306,900 shares of company stock worth $106,401,841. 14.69% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in the stock. Vanguard Group Inc. raised its stake in shares of AppLovin by 7.3% in the first quarter. Vanguard Group Inc. now owns 17,830,675 shares of the company's stock worth $4,724,594,000 after purchasing an additional 1,213,536 shares during the last quarter. FMR LLC raised its holdings in AppLovin by 75.5% in the 4th quarter. FMR LLC now owns 13,851,122 shares of the company's stock valued at $4,485,409,000 after acquiring an additional 5,957,885 shares during the last quarter. SVB Wealth LLC purchased a new stake in shares of AppLovin in the 4th quarter valued at approximately $1,781,922,000. Baillie Gifford & Co. increased its position in shares of AppLovin by 29.0% during the 1st quarter. Baillie Gifford & Co. now owns 5,270,355 shares of the company's stock worth $1,396,486,000 after purchasing an additional 1,185,859 shares during the last quarter. Finally, Geode Capital Management LLC raised its position in AppLovin by 14.5% in the fourth quarter. Geode Capital Management LLC now owns 4,519,445 shares of the company's stock valued at $1,462,144,000 after purchasing an additional 573,310 shares during the period. 41.85% of the stock is owned by 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.