AppLovin (NASDAQ:APP) Stock Price Up 1.2% - Time to Buy?

AppLovin Co. (NASDAQ:APP - Get Free Report)'s share price traded up 1.2% on Friday . The stock traded as high as $353.75 and last traded at $355.63. 1,959,138 shares traded hands during mid-day trading, a decline of 68% from the average session volume of 6,029,878 shares. The stock had previously closed at $351.47.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on APP shares. Oppenheimer reaffirmed an "outperform" rating and issued a $500.00 target price (down previously from $560.00) on shares of AppLovin in a research report on Thursday, May 8th. Needham & Company LLC restated a "hold" rating on shares of AppLovin in a research report on Monday, April 21st. Morgan Stanley upped their target price on AppLovin from $350.00 to $420.00 and gave the company an "overweight" rating in a report on Thursday, May 8th. The Goldman Sachs Group increased their price target on shares of AppLovin from $335.00 to $435.00 and gave the stock a "neutral" rating in a research report on Friday, May 9th. 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 analyst has rated the stock with a sell rating, three have assigned a hold rating, seventeen have assigned a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $433.85.

AppLovin Stock Performance

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 company has a market cap of $120.05 billion, a P/E ratio of 78.15, a P/E/G ratio of 3.02 and a beta of 2.39. The firm has a 50 day moving average price of $291.13 and a 200-day moving average price of $322.85.

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

Insiders Place Their Bets

In other AppLovin news, CEO Arash Adam Foroughi sold 44,400 shares of the firm's stock in a transaction that occurred on Monday, February 24th. The stock was sold at an average price of $410.89, for a total value of $18,243,516.00. Following the sale, the chief executive officer now owns 2,869,492 shares of the company's stock, valued at $1,179,045,567.88. This trade represents a 1.52% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, insider Victoria Valenzuela sold 6,585 shares of the stock in a transaction that occurred on Monday, May 19th. The shares were sold at an average price of $370.23, for a total value of $2,437,964.55. Following the completion of the sale, the insider now directly owns 357,903 shares of the company's stock, valued at $132,506,427.69. This represents a 1.81% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 1,277,654 shares of company stock valued at $465,170,665 in the last quarter. Insiders own 14.69% of the company's stock.

Institutional Trading of AppLovin

Several institutional investors have recently modified their holdings of the company. GHP Investment Advisors Inc. acquired a new stake in AppLovin during the fourth quarter valued at approximately $25,000. Fuller & Thaler Asset Management Inc. bought a new position in shares of AppLovin during the 4th quarter worth approximately $25,000. Atala Financial Inc acquired a new stake in AppLovin in the 1st quarter valued at $26,000. Alpine Bank Wealth Management bought a new stake in AppLovin in the first quarter valued at $27,000. Finally, Riverview Trust Co raised its stake in AppLovin by 1,640.0% during the fourth quarter. Riverview Trust Co now owns 87 shares of the company's stock worth $28,000 after acquiring an additional 82 shares in the last quarter. Institutional investors and hedge funds 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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