Daiwa Capital Markets Initiates Coverage on AppLovin (NASDAQ:APP)

Daiwa Capital Markets initiated coverage on shares of AppLovin (NASDAQ:APP - Free Report) in a research report report published on Monday, Marketbeat reports. The firm issued a neutral rating and a $80.00 price target on the stock.

A number of other equities analysts have also weighed in on the stock. TheStreet upgraded shares of AppLovin from a d+ rating to a c- rating in a research report on Friday, March 8th. HSBC began coverage on shares of AppLovin in a research report on Monday, December 18th. They set a buy rating and a $53.20 target price for the company. Oppenheimer increased their target price on shares of AppLovin from $70.00 to $85.00 and gave the stock an outperform rating in a research report on Monday, April 8th. Wedbush raised their price objective on shares of AppLovin from $67.00 to $87.00 and gave the company an outperform rating in a research report on Thursday. Finally, UBS Group raised their price objective on shares of AppLovin from $46.00 to $55.00 and gave the company a neutral rating in a research report on Thursday, February 15th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and twelve have issued a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of Moderate Buy and a consensus target price of $57.75.

AppLovin Stock Down 5.5 %

Shares of APP stock traded down $4.14 on Monday, hitting $71.43. The stock had a trading volume of 4,104,700 shares, compared to its average volume of 4,183,284. The business has a 50 day moving average of $63.41 and a 200 day moving average of $48.21. The stock has a market cap of $24.43 billion, a price-to-earnings ratio of 71.43, a price-to-earnings-growth ratio of 1.53 and a beta of 1.90. The company has a debt-to-equity ratio of 2.31, a current ratio of 1.71 and a quick ratio of 1.71. AppLovin has a 12-month low of $15.41 and a 12-month high of $79.55.

AppLovin (NASDAQ:APP - Get Free Report) last posted 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 analyst estimates of $928.66 million. AppLovin had a net margin of 10.84% and a return on equity of 24.69%. The firm's revenue for the quarter was up 35.7% on a year-over-year basis. During the same quarter in the prior year, the business earned ($0.21) earnings per share. As a group, analysts expect that AppLovin will post 2.47 EPS for the current year.

Insider Transactions at AppLovin

In related news, insider Victoria Valenzuela sold 2,890 shares of AppLovin stock in a transaction on Thursday, February 22nd. The shares were sold at an average price of $57.76, for a total value of $166,926.40. Following the sale, the insider now owns 546,560 shares in the company, valued at $31,569,305.60. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In related news, Director Craig Scott Billings sold 5,550 shares of AppLovin stock in a transaction on Tuesday, February 20th. The shares were sold at an average price of $58.33, for a total value of $323,731.50. Following the sale, the director now owns 12,739 shares in the company, valued at $743,065.87. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Victoria Valenzuela sold 2,890 shares of the business's stock in a transaction on Thursday, February 22nd. The shares were sold at an average price of $57.76, for a total transaction of $166,926.40. Following the sale, the insider now owns 546,560 shares in the company, valued at approximately $31,569,305.60. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 61,215 shares of company stock worth $4,416,815. Insiders own 12.43% of the company's stock.

Institutional Trading of AppLovin

A number of hedge funds have recently modified their holdings of APP. JPMorgan Chase & Co. boosted its holdings in shares of AppLovin by 99.0% during the 1st quarter. JPMorgan Chase & Co. now owns 981 shares of the company's stock valued at $54,000 after buying an additional 488 shares in the last quarter. Raymond James & Associates raised its position in shares of AppLovin by 109.0% in the 1st quarter. Raymond James & Associates now owns 57,743 shares of the company's stock worth $3,180,000 after purchasing an additional 30,112 shares during the last quarter. Bank of New York Mellon Corp raised its position in shares of AppLovin by 21.6% in the 1st quarter. Bank of New York Mellon Corp now owns 39,124 shares of the company's stock worth $2,155,000 after purchasing an additional 6,942 shares during the last quarter. Cambridge Investment Research Advisors Inc. raised its position in shares of AppLovin by 43.5% in the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 9,425 shares of the company's stock worth $519,000 after purchasing an additional 2,858 shares during the last quarter. Finally, Citigroup Inc. raised its position in shares of AppLovin by 802.0% in the 1st quarter. Citigroup Inc. now owns 22,749 shares of the company's stock worth $1,253,000 after purchasing an additional 20,227 shares during the last quarter. 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.