AppLovin's (APP) "Hold" Rating Reiterated at Needham & Company LLC

Needham & Company LLC reissued their hold rating on shares of AppLovin (NASDAQ:APP - Free Report) in a research note released on Wednesday morning,Benzinga reports.

Several other analysts have also recently commented on APP. Bank of America lifted their price target on AppLovin from $375.00 to $580.00 and gave the company a "buy" rating in a report on Thursday, February 13th. Oppenheimer reaffirmed an "outperform" rating and set a $500.00 price target (down previously from $560.00) on shares of AppLovin in a research report on Thursday, May 8th. FBN Securities started 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. JPMorgan Chase & Co. boosted their price objective on shares of AppLovin from $270.00 to $355.00 and gave the company a "neutral" rating in a research note on Thursday, May 8th. Finally, Loop Capital restated a "buy" rating and set a $650.00 price objective on shares of AppLovin in a report on Friday, March 28th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating, seventeen have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $433.85.

AppLovin Price Performance

AppLovin stock traded up $9.35 during mid-day trading on Wednesday, hitting $390.26. 6,747,908 shares of the company were exchanged, compared to its average volume of 6,064,715. AppLovin has a 12-month low of $60.67 and a 12-month high of $525.15. The company has a market capitalization of $132.06 billion, a P/E ratio of 85.96, a PEG ratio of 3.02 and a beta of 2.39. The business's 50 day simple moving average is $296.79 and its two-hundred day simple moving average is $327.05. The company has a debt-to-equity ratio of 3.70, a current ratio of 2.41 and a quick ratio of 2.41.

AppLovin (NASDAQ:APP - Get Free Report) last posted its quarterly earnings data on Wednesday, May 7th. The company reported $1.67 EPS for the quarter, beating 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 business had revenue of $1.48 billion for the quarter, compared to analyst estimates of $1.38 billion. During the same quarter last year, the company earned $0.67 earnings per share. The business's revenue for the quarter was up 40.3% compared to the same quarter last year. Analysts forecast that AppLovin will post 6.87 earnings per share for the current fiscal year.

Insider Activity

In related news, Director Dawson Alyssa Harvey sold 570 shares of the business's stock in a transaction dated Tuesday, May 13th. The stock was sold at an average price of $371.12, for a total value of $211,538.40. Following the transaction, the director now owns 6,231 shares in the company, valued at approximately $2,312,448.72. The trade was a 8.38% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CTO Vasily Shikin sold 17,500 shares of AppLovin stock in a transaction that occurred on Monday, March 10th. The stock was sold at an average price of $241.65, for a total value of $4,228,875.00. Following the sale, the chief technology officer now owns 88,389 shares in the company, valued at $21,359,201.85. This represents 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 sold 1,315,754 shares of company stock worth $476,095,970. 14.69% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in APP. Barclays PLC grew its stake in AppLovin by 92.5% in the third quarter. Barclays PLC now owns 318,992 shares of the company's stock worth $41,643,000 after purchasing an additional 153,248 shares in the last quarter. Chicago Capital LLC bought a new position in AppLovin during the 4th quarter worth approximately $323,000. Avior Wealth Management LLC grew its position in shares of AppLovin by 54.7% in the 4th quarter. Avior Wealth Management LLC now owns 215 shares of the company's stock worth $70,000 after acquiring an additional 76 shares in the last quarter. Fifth Third Bancorp increased its holdings in shares of AppLovin by 172.2% in the 4th quarter. Fifth Third Bancorp now owns 98 shares of the company's stock valued at $32,000 after acquiring an additional 62 shares during the last quarter. Finally, Empirical Financial Services LLC d.b.a. Empirical Wealth Management acquired a new stake in shares of AppLovin during the 4th quarter valued at approximately $411,000. 41.85% of the stock is 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.