AppLovin (NASDAQ:APP) Receives Buy Rating from Benchmark

AppLovin (NASDAQ:APP - Get Free Report)'s stock had its "buy" rating reissued by research analysts at Benchmark in a report issued on Thursday,Benzinga reports. They currently have a $525.00 price objective on the stock. Benchmark's target price would indicate a potential upside of 52.48% from the company's current price.

Other research analysts have also issued research reports about the company. The Goldman Sachs Group reduced their price target on AppLovin from $500.00 to $335.00 and set a "neutral" rating on the stock in a research note on Monday, April 14th. Bank of America upped their price objective on shares of AppLovin from $375.00 to $580.00 and gave the company a "buy" rating in a research note on Thursday, February 13th. Oppenheimer reissued an "outperform" rating and issued a $500.00 target price (down from $560.00) on shares of AppLovin in a research report on Thursday. UBS Group decreased their price target on shares of AppLovin from $630.00 to $450.00 and set a "buy" rating on the stock in a report on Friday, April 11th. Finally, Jefferies Financial Group upped their price objective on AppLovin from $400.00 to $425.00 and gave the stock a "buy" rating in a report on Wednesday, January 8th. 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 given a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $413.10.

AppLovin Price Performance

APP stock traded up $40.85 during midday trading on Thursday, hitting $344.31. 6,351,323 shares of the stock were exchanged, compared to its average volume of 8,074,990. The company has a debt-to-equity ratio of 3.70, a quick ratio of 2.41 and a current ratio of 2.41. The stock has a market cap of $117.05 billion, a price-to-earnings ratio of 75.84, a PEG ratio of 3.02 and a beta of 2.39. AppLovin has a fifty-two week low of $60.67 and a fifty-two week high of $525.15. The stock's 50-day moving average price is $275.48 and its 200-day moving average price is $308.12.

AppLovin (NASDAQ:APP - Get Free Report) last issued 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. The business had revenue of $1.48 billion for the quarter, compared to the consensus estimate of $1.38 billion. AppLovin had a return on equity of 188.55% and a net margin of 33.54%. The business's revenue was up 40.3% on a year-over-year basis. During the same period in the prior year, the business earned $0.67 earnings per share. Research analysts predict that AppLovin will post 6.87 earnings per share for the current year.

Insider Activity at AppLovin

In other AppLovin news, CTO Vasily Shikin sold 17,500 shares of the firm's stock in a transaction on Monday, March 10th. The stock was sold at an average price of $241.65, for a total value of $4,228,875.00. Following the sale, the chief technology officer now directly owns 88,389 shares in the company, valued at approximately $21,359,201.85. This trade represents a 16.53 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Arash Adam Foroughi sold 45,000 shares of the company's stock in a transaction dated Friday, February 21st. The stock was sold at an average price of $422.21, for a total transaction of $18,999,450.00. Following the transaction, the chief executive officer now owns 2,914,492 shares of the company's stock, valued at $1,230,527,667.32. This represents a 1.52 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 306,900 shares of company stock valued at $106,401,841 over the last three months. 14.69% of the stock is owned by insiders.

Institutional Trading of AppLovin

Large investors have recently added to or reduced their stakes in the business. Fuller & Thaler Asset Management Inc. bought a new position in shares of AppLovin in the fourth quarter worth $25,000. GHP Investment Advisors Inc. bought a new position in AppLovin in the 4th quarter valued at about $25,000. Riverview Trust Co increased its stake in AppLovin by 1,640.0% during 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 period. Tucker Asset Management LLC bought a new stake in shares of AppLovin during the 4th quarter worth about $28,000. Finally, Hemington Wealth Management boosted its holdings in shares of AppLovin by 78.4% in the fourth quarter. Hemington Wealth Management now owns 91 shares of the company's stock valued at $29,000 after acquiring an additional 40 shares in the last quarter. 41.85% of the stock is currently owned by institutional investors and hedge funds.

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.

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