AppLovin's (APP) "Outperform" Rating Reiterated at Oppenheimer

AppLovin (NASDAQ:APP - Get Free Report)'s stock had its "outperform" rating restated by equities research analysts at Oppenheimer in a report released on Thursday,Benzinga reports. They presently have a $500.00 target price on the stock, down from their previous target price of $560.00. Oppenheimer's target price would suggest a potential upside of 43.21% from the stock's current price.

Several other brokerages have also recently commented on APP. Morgan Stanley upgraded shares of AppLovin from an "equal weight" rating to an "overweight" rating and decreased their price target for the stock from $470.00 to $350.00 in a research note on Thursday, April 10th. 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. JPMorgan Chase & Co. reduced their price objective on AppLovin from $475.00 to $270.00 and set a "neutral" rating on the stock in a research note on Tuesday, April 22nd. Jefferies Financial Group boosted their target price on AppLovin from $400.00 to $425.00 and gave the company a "buy" rating in a research report on Wednesday, January 8th. Finally, Piper Sandler cut their price objective on shares of AppLovin from $575.00 to $425.00 and set an "overweight" rating on the stock in a research report on Thursday, April 10th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating, seventeen have given a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $413.10.

AppLovin Stock Performance

APP traded up $45.68 during mid-day trading on Thursday, reaching $349.14. 5,921,737 shares of the company traded hands, compared to its average volume of 5,992,433. The stock has a market capitalization of $118.69 billion, a P/E ratio of 76.90, a P/E/G ratio of 3.02 and a beta of 2.39. AppLovin has a 52-week low of $60.67 and a 52-week high of $525.15. The company has a quick ratio of 2.41, a current ratio of 2.41 and a debt-to-equity ratio of 3.70. The company's fifty day moving average price is $275.48 and its 200-day moving average price is $308.12.

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

Insider Buying and Selling at AppLovin

In other news, CTO Vasily Shikin sold 17,500 shares of the business'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 value of $4,228,875.00. Following the transaction, the chief technology officer now owns 88,389 shares of the company's stock, valued at approximately $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 accessible through this hyperlink. Also, Director Herald Y. Chen sold 200,000 shares of the company's stock in a transaction on Friday, February 28th. The stock was sold at an average price of $324.65, for a total transaction of $64,930,000.00. Following the transaction, the director now owns 621,209 shares of the company's stock, valued at approximately $201,675,501.85. The trade was a 24.35 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 306,900 shares of company stock worth $106,401,841 over the last ninety days. Corporate insiders own 14.69% of the company's stock.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the business. GHP Investment Advisors Inc. acquired a new stake in shares of AppLovin in the fourth quarter valued at about $25,000. Fuller & Thaler Asset Management Inc. acquired a new stake in shares of AppLovin in the 4th quarter worth approximately $25,000. Atala Financial Inc acquired a new position in AppLovin during the first quarter worth $26,000. Alpine Bank Wealth Management acquired a new stake in AppLovin in the first quarter valued at $27,000. Finally, Riverview Trust Co increased its position in shares of AppLovin by 1,640.0% in the fourth 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. 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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