AppLovin (NASDAQ:APP) Price Target Increased to $70.00 by Analysts at Morgan Stanley

AppLovin (NASDAQ:APP - Free Report) had its price objective lifted by Morgan Stanley from $55.00 to $70.00 in a research report released on Tuesday, Benzinga reports. The firm currently has an equal weight rating on the stock.

APP has been the topic of a number of other reports. TheStreet upgraded AppLovin from a d+ rating to a c- rating in a report on Friday, March 8th. UBS Group increased their price objective on AppLovin from $46.00 to $55.00 and gave the stock a neutral rating in a report on Thursday, February 15th. Wedbush increased their target price on AppLovin from $67.00 to $87.00 and gave the stock an outperform rating in a research report on Thursday, April 11th. Daiwa Capital Markets assumed coverage on AppLovin in a research report on Monday. They set a neutral rating and a $80.00 price objective for the company. Finally, HSBC began coverage on AppLovin in a research note on Monday, December 18th. They set a buy rating and a $53.20 target price on the stock. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and twelve have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of Moderate Buy and a consensus target price of $59.31.

AppLovin Price Performance

APP traded up $0.89 on Tuesday, reaching $72.32. The stock had a trading volume of 2,810,885 shares, compared to its average volume of 4,164,529. AppLovin has a fifty-two week low of $15.41 and a fifty-two week high of $79.55. The firm has a 50-day moving average of $63.41 and a 200-day moving average of $48.21. The company has a current ratio of 1.71, a quick ratio of 1.71 and a debt-to-equity ratio of 2.31. The company has a market capitalization of $24.73 billion, a price-to-earnings ratio of 72.55, a price-to-earnings-growth ratio of 1.53 and a beta of 1.90.

AppLovin (NASDAQ:APP - Get Free Report) last issued its quarterly earnings results on Wednesday, February 14th. The company reported $0.49 earnings per share for the quarter, beating the consensus estimate of $0.35 by $0.14. The company had revenue of $953.26 million during the quarter, compared to analysts' expectations of $928.66 million. AppLovin had a return on equity of 24.69% and a net margin of 10.84%. The business's quarterly revenue was up 35.7% on a year-over-year basis. During the same quarter in the prior year, the firm posted ($0.21) earnings per share. As a group, sell-side analysts anticipate that AppLovin will post 2.47 EPS for the current year.

Insiders Place Their Bets

In related news, CFO Matthew Stumpf sold 2,775 shares of the business's stock in a transaction that occurred on Thursday, March 14th. The stock was sold at an average price of $63.30, for a total value of $175,657.50. Following the completion of the sale, the chief financial officer now owns 362,264 shares in the company, valued at $22,931,311.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, Director Craig Scott Billings sold 5,550 shares of the firm's stock in a transaction on Tuesday, February 20th. The stock was sold at an average price of $58.33, for a total value of $323,731.50. Following the completion of the transaction, the director now owns 12,739 shares in the company, valued at approximately $743,065.87. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Matthew Stumpf sold 2,775 shares of the firm's stock in a transaction on Thursday, March 14th. The stock was sold at an average price of $63.30, for a total value of $175,657.50. Following the completion of the transaction, the chief financial officer now owns 362,264 shares of the company's stock, valued at approximately $22,931,311.20. The disclosure for this sale can be found here. Insiders have sold 61,215 shares of company stock valued at $4,416,815 over the last ninety days. 12.43% of the stock is owned by insiders.

Institutional Investors Weigh In On AppLovin

A number of institutional investors have recently modified their holdings of the business. GAMMA Investing LLC raised its position in shares of AppLovin by 13.6% during the 1st quarter. GAMMA Investing LLC now owns 1,285 shares of the company's stock valued at $89,000 after buying an additional 154 shares during the period. DeDora Capital Inc. lifted its position in AppLovin by 1.8% in the first quarter. DeDora Capital Inc. now owns 9,596 shares of the company's stock valued at $664,000 after acquiring an additional 166 shares during the last quarter. Lindbrook Capital LLC lifted its position in AppLovin by 26.6% in the fourth quarter. Lindbrook Capital LLC now owns 1,337 shares of the company's stock valued at $53,000 after acquiring an additional 281 shares during the last quarter. Xponance Inc. raised its holdings in shares of AppLovin by 2.5% in the fourth quarter. Xponance Inc. now owns 13,664 shares of the company's stock valued at $545,000 after buying an additional 334 shares during the last quarter. Finally, CWM LLC raised its holdings in AppLovin by 16.5% during the third quarter. CWM LLC now owns 2,463 shares of the company's stock worth $98,000 after purchasing an additional 348 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.