Flagship Harbor Advisors LLC Acquires 4,770 Shares of AppLovin Corporation $APP

Flagship Harbor Advisors LLC acquired a new position in AppLovin Corporation (NASDAQ:APP - Free Report) during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 4,770 shares of the company's stock, valued at approximately $1,385,000.

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. Cassaday & Co Wealth Management LLC acquired a new stake in shares of AppLovin in the first quarter valued at $25,000. Pioneer Family Office LLC acquired a new position in AppLovin during the 2nd quarter worth about $31,000. First Pacific Financial acquired a new position in AppLovin during the 1st quarter worth about $33,000. IMA Advisory Services Inc. lifted its position in AppLovin by 40.0% during the 1st quarter. IMA Advisory Services Inc. now owns 84 shares of the company's stock worth $33,000 after buying an additional 24 shares in the last quarter. Finally, OFI Invest Asset Management grew its holdings in AppLovin by 16.3% during the 2nd quarter. OFI Invest Asset Management now owns 68,739 shares of the company's stock worth $35,000 after acquiring an additional 9,615 shares during the last quarter. Institutional investors and hedge funds own 41.85% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on the stock. Loop Capital decreased their price objective on shares of AppLovin from $860.00 to $600.00 and set a "buy" rating on the stock in a report on Thursday, August 20th. BTIG Research dropped their target price on shares of AppLovin from $408.00 to $396.00 and set a "buy" rating for the company in a research note on Tuesday, September 8th. Citigroup dropped their target price on shares of AppLovin from $600.00 to $500.00 and set a "buy" rating for the company in a research note on Monday, October 19th. Deutsche Bank Aktiengesellschaft reduced their target price on shares of AppLovin from $660.00 to $580.00 and set a "buy" rating on the stock in a research report on Thursday, August 6th. Finally, Raymond James Financial decreased their price target on shares of AppLovin from $640.00 to $590.00 in a research note on Thursday, August 6th. Three investment analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and eight have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $491.64.

AppLovin Stock Performance

Shares of NASDAQ:APP opened at $259.97 on Thursday. The company has a current ratio of 4.30, a quick ratio of 4.30 and a debt-to-equity ratio of 1.11. AppLovin Corporation has a 1-year low of $255.46 and a 1-year high of $738.01. The stock has a market capitalization of $87.00 billion, a P/E ratio of 19.98, a P/E/G ratio of 0.54 and a beta of 2.56. The business has a 50-day moving average price of $296.92 and a two-hundred day moving average price of $421.69.

AppLovin (NASDAQ:APP - Get Free Report) last issued its earnings results on Wednesday, August 5th. The company reported $3.76 earnings per share (EPS) for the quarter, meeting the consensus estimate of $3.76. AppLovin had a net margin of 64.58% and a return on equity of 193.10%. The company had revenue of $1.92 billion for the quarter, compared to analyst estimates of $1.94 billion. During the same quarter last year, the firm earned $2.39 EPS. The company's revenue for the quarter was up 52.8% on a year-over-year basis. Equities analysts predict that AppLovin Corporation will post 15.67 earnings per share for the current year.

Key Stories Impacting AppLovin

Here are the key news stories impacting AppLovin this week:

• Positive Sentiment: RBC remains bullish despite a lower target. Royal Bank of Canada cut its price target from $575 to $500 but maintained an “Outperform” rating. The revised target still implies roughly 92% upside from recent levels, suggesting the bank views the selloff as excessive if AppLovin’s fundamentals stabilize. RBC Cut Its AppLovin Target to $500
• Neutral Sentiment: Profitability is a major support, but sustainability is uncertain. AppLovin’s AI advertising platform has lifted its adjusted EBITDA margin to approximately 84%. However, increasing competition, higher costs and a potentially slower pace of model improvement could make it difficult to maintain those margins. Can AppLovin’s 84% EBITDA Margin Sustain Growth?
• Neutral Sentiment: Third-quarter results are the next key catalyst. Investors will focus on advertising growth, progress in e-commerce and evidence that AppLovin’s AI models continue to improve. Analysts expect earnings growth, but recent commentary indicates the company may lack the factors typically associated with a likely earnings beat. AppLovin Earnings Expected to Grow
• Negative Sentiment: Multiple law firms are promoting a securities class action. The lawsuit alleges AppLovin overstated the reliability and compounding benefits of its AI advertising models before a July analyst report and the company’s August 5 results triggered a sharp stock decline. The allegations have not been proven, but the litigation adds reputational, financial and headline risk; investors covered by the proposed class period face a November 16 lead-plaintiff deadline. AppLovin Securities Class Action Notice

About AppLovin

AppLovin Corporation is a technology company that provides software and services designed to help mobile application developers grow, monetize and operate their businesses. Its platform supports user acquisition, advertising, mediation, analytics and other functions across the mobile app ecosystem.

The company's principal products include AppDiscovery, which helps developers market their applications and acquire users; MAX, an in-app bidding and monetization platform; and its AXON technology, an artificial intelligence-powered engine intended to improve advertising performance and match users with relevant applications and content.

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