AppLovin (NASDAQ:APP) Price Target Raised to $400.00

AppLovin (NASDAQ:APP - Get Free Report) had its target price increased by equities research analysts at JPMorgan Chase & Co. from $355.00 to $400.00 in a research report issued on Tuesday,Benzinga reports. The brokerage currently has a "neutral" rating on the stock. JPMorgan Chase & Co.'s price objective suggests a potential downside of 3.97% from the company's current price.

Other equities research analysts also recently issued research reports about the stock. FBN Securities assumed coverage on shares of AppLovin in a research note on Friday, March 28th. They set an "outperform" rating and a $385.00 price target on the stock. Needham & Company LLC reissued a "hold" rating on shares of AppLovin in a research note on Wednesday, May 28th. Piper Sandler raised their price target on shares of AppLovin from $425.00 to $455.00 and gave the stock an "overweight" rating in a research note on Thursday, May 8th. Oppenheimer reiterated an "outperform" rating and issued a $500.00 price objective (down from $560.00) on shares of AppLovin in a research note on Thursday, May 8th. Finally, Wells Fargo & Company raised their target price on AppLovin from $386.00 to $405.00 and gave the stock an "overweight" rating in a research report on Thursday, May 8th. One investment analyst has rated the stock with a sell rating, three have given a hold rating, seventeen have issued a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $436.10.

AppLovin Stock Up 4.5%

Shares of NASDAQ:APP traded up $18.01 on Tuesday, reaching $416.52. The company had a trading volume of 4,792,949 shares, compared to its average volume of 6,095,470. The stock has a market capitalization of $140.94 billion, a P/E ratio of 91.74, a P/E/G ratio of 3.02 and a beta of 2.39. The stock has a 50-day moving average price of $302.59 and a 200 day moving average price of $330.23. AppLovin has a twelve month low of $60.67 and a twelve month 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.

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, equities analysts expect that AppLovin will post 6.87 EPS for the current year.

Insider Transactions at AppLovin

In related news, 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 sale, the insider now directly owns 357,903 shares in the company, valued at $132,506,427.69. This trade represents a 1.81% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CTO Vasily Shikin sold 17,500 shares of the business's stock in a transaction dated Monday, March 10th. The shares were sold at an average price of $241.65, for a total value of $4,228,875.00. Following the completion of the transaction, the chief technology officer now directly 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 disclosure for this sale can be found here. Over the last three months, insiders have sold 1,115,754 shares of company stock worth $411,165,970. Corporate insiders own 14.69% of the company's stock.

Hedge Funds Weigh In On AppLovin

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