AppLovin (NASDAQ:APP) Shares Up 3.6% - Time to Buy?

AppLovin Corporation (NASDAQ:APP - Get Free Report)'s share price shot up 3.6% during mid-day trading on Tuesday . The company traded as high as $352.39 and last traded at $347.55. 1,966,232 shares were traded during mid-day trading, a decline of 68% from the average session volume of 6,124,391 shares. The stock had previously closed at $335.40.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on the company. HSBC set a $436.00 price target on AppLovin and gave the stock a "buy" rating in a report on Wednesday, April 23rd. Jefferies Financial Group boosted their price target on AppLovin from $460.00 to $530.00 and gave the stock a "buy" rating in a report on Thursday, May 8th. Benchmark restated a "buy" rating and set a $525.00 price target on shares of AppLovin in a report on Thursday, May 8th. UBS Group boosted their price target on AppLovin from $450.00 to $475.00 and gave the stock a "buy" rating in a report on Thursday, May 8th. Finally, The Goldman Sachs Group upped their target price on AppLovin from $335.00 to $435.00 and gave the company a "neutral" rating in a report on Friday, May 9th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, seventeen have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, AppLovin has a consensus rating of "Moderate Buy" and a consensus price target of $438.10.

AppLovin Price Performance

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 business has a 50-day moving average price of $335.19 and a two-hundred day moving average price of $333.39. The company has a market capitalization of $116.68 billion, a price-to-earnings ratio of 62.24, a price-to-earnings-growth ratio of 1.89 and a beta of 2.53.

AppLovin (NASDAQ:APP - Get Free Report) last issued its earnings results on Wednesday, May 7th. The company reported $1.67 earnings per share for the quarter, topping analysts' consensus estimates 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 for the quarter, compared to analyst estimates of $1.38 billion. During the same period in the prior year, the firm earned $0.67 earnings per share. AppLovin's revenue for the quarter was up 40.3% on a year-over-year basis. As a group, research analysts anticipate that AppLovin Corporation will post 6.87 EPS for the current year.

Insider Buying and Selling at AppLovin

In other AppLovin news, Director Barbara Messing sold 1,500 shares of the firm's stock in a transaction dated Wednesday, June 11th. The stock was sold at an average price of $382.46, for a total value of $573,690.00. Following the sale, the director now owns 9,510 shares of the company's stock, valued at $3,637,194.60. This trade represents a 13.62% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Arash Adam Foroughi sold 33,700 shares of the firm's stock in a transaction dated Tuesday, May 20th. The shares were sold at an average price of $365.54, for a total value of $12,318,698.00. Following the completion of the sale, the chief executive officer now directly 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 disclosure for this sale can be found here. Insiders sold 1,212,968 shares of company stock worth $455,062,980 in the last quarter. 13.66% of the stock is currently owned by company insiders.

Institutional Trading of AppLovin

Several institutional investors and hedge funds have recently modified their holdings of APP. Fuller & Thaler Asset Management Inc. purchased a new position in shares of AppLovin during the 4th quarter valued at about $25,000. Riverview Trust Co raised its holdings in shares of 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 in the last quarter. Tucker Asset Management LLC purchased a new position in shares of AppLovin during the 4th quarter valued at about $28,000. Smithfield Trust Co bought a new position in AppLovin during the 4th quarter worth approximately $32,000. Finally, Atala Financial Inc bought a new position in AppLovin during the 1st quarter worth approximately $26,000. Hedge funds and other institutional investors own 41.85% of the company's stock.

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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