AppLovin (NASDAQ:APP) Price Target Raised to $85.00

AppLovin (NASDAQ:APP - Get Free Report) had its target price increased by equities research analysts at Stifel Nicolaus from $65.00 to $85.00 in a note issued to investors on Wednesday, Benzinga reports. The firm currently has a "buy" rating on the stock. Stifel Nicolaus' target price indicates a potential upside of 21.88% from the stock's previous close.

APP has been the topic of several other reports. Morgan Stanley increased their price objective on AppLovin from $55.00 to $70.00 and gave the company an "equal weight" rating in a research note on Tuesday, April 16th. Oppenheimer increased their price objective on AppLovin from $70.00 to $85.00 and gave the company an "outperform" rating in a research note on Monday, April 8th. Daiwa Capital Markets began coverage on AppLovin in a report on Monday, April 15th. They issued a "neutral" rating and a $80.00 target price on the stock. TheStreet raised AppLovin from a "d+" rating to a "c-" rating in a report on Friday, March 8th. Finally, BTIG Research increased their target price on AppLovin from $65.00 to $87.00 and gave the company a "buy" rating in a report on Tuesday, April 9th. One analyst has rated the stock with a sell rating, four have given a hold rating and twelve have given a buy rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $61.07.

AppLovin Trading Down 1.2 %

NASDAQ:APP traded down $0.83 during trading hours on Wednesday, reaching $69.74. 2,645,236 shares of the stock were exchanged, compared to its average volume of 4,067,531. The company has a market capitalization of $23.85 billion, a price-to-earnings ratio of 69.74, a PEG ratio of 1.47 and a beta of 1.90. The company has a quick ratio of 1.71, a current ratio of 1.71 and a debt-to-equity ratio of 2.31. AppLovin has a twelve month low of $15.70 and a twelve month high of $79.55. The business has a 50-day moving average of $67.66 and a two-hundred day moving average of $50.56.

AppLovin (NASDAQ:APP - Get Free Report) last announced its quarterly earnings data on Wednesday, February 14th. The company reported $0.49 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.35 by $0.14. The business had revenue of $953.26 million for 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 company's revenue for the quarter was up 35.7% compared to the same quarter last year. During the same period last year, the firm earned ($0.21) earnings per share. On average, equities analysts predict that AppLovin will post 2.49 EPS for the current year.

Insiders Place Their Bets

In related news, CFO Matthew Stumpf sold 2,775 shares of the firm's stock in a transaction dated Thursday, March 14th. The stock was sold at an average price of $63.30, for a total transaction of $175,657.50. Following the transaction, the chief financial officer now owns 362,264 shares of the company's stock, valued at $22,931,311.20. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In related news, CFO Matthew Stumpf sold 2,775 shares of the firm's stock in a transaction dated Thursday, March 14th. The stock was sold at an average price of $63.30, for a total transaction of $175,657.50. Following the transaction, the chief financial officer now owns 362,264 shares of the company's stock, valued at $22,931,311.20. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Craig Scott Billings sold 5,550 shares of the firm's stock in a transaction dated Tuesday, February 20th. The stock was sold at an average price of $58.33, for a total value of $323,731.50. Following the transaction, the director now directly owns 12,739 shares in the company, valued at approximately $743,065.87. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 61,215 shares of company stock valued at $4,416,815. 12.43% of the stock is currently owned by insiders.

Hedge Funds Weigh In On AppLovin

Hedge funds and other institutional investors have recently made changes to their positions in the stock. FinTrust Capital Advisors LLC acquired a new stake in AppLovin in the fourth quarter valued at about $32,000. BluePath Capital Management LLC acquired a new stake in AppLovin in the third quarter valued at about $33,000. Castleview Partners LLC acquired a new stake in AppLovin in the third quarter valued at about $38,000. Atlas Capital Advisors LLC acquired a new stake in AppLovin in the first quarter valued at about $38,000. Finally, Cullen Frost Bankers Inc. acquired a new stake in AppLovin in the third quarter valued at about $44,000. 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.