Piper Sandler Has Lowered Expectations for Apollo Global Management (NYSE:APO) Stock Price

Key Points

• Piper Sandler lowered its price target on Apollo Global Management from $157 to $156 while keeping an overweight rating, implying about 29.5% upside from the current price.
• Analyst sentiment remains broadly positive overall: Apollo has a Moderate Buy consensus, with 12 Buy ratings, 1 Strong Buy, and 3 Hold ratings, despite some mixed target changes from other firms.
• In its latest quarterly report, Apollo beat earnings estimates with EPS of $1.94 versus $1.89 expected, though revenue came in below forecasts at $5.06 billion and fell 8.8% year over year.

Apollo Global Management (NYSE:APO - Get Free Report) had its price objective decreased by research analysts at Piper Sandler from $157.00 to $156.00 in a research note issued on Monday,Benzinga reports. The brokerage currently has an "overweight" rating on the financial services provider's stock. Piper Sandler's price target suggests a potential upside of 29.50% from the stock's current price.

Other equities research analysts have also recently issued reports about the stock. Wall Street Zen cut shares of Apollo Global Management from a "hold" rating to a "sell" rating in a report on Saturday, May 9th. UBS Group upped their price objective on Apollo Global Management from $138.00 to $158.00 and gave the company a "buy" rating in a research note on Friday, May 8th. TD Cowen decreased their price objective on Apollo Global Management from $155.00 to $146.00 and set a "buy" rating for the company in a research report on Monday, May 18th. The Goldman Sachs Group dropped their target price on Apollo Global Management from $169.00 to $134.00 and set a "buy" rating on the stock in a report on Tuesday, April 7th. Finally, Deutsche Bank Aktiengesellschaft restated a "buy" rating on shares of Apollo Global Management in a research note on Thursday, May 7th. One research analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat.com, Apollo Global Management has an average rating of "Moderate Buy" and a consensus price target of $149.42.

Apollo Global Management Stock Performance

Shares of APO stock opened at $120.46 on Monday. The firm has a market cap of $69.45 billion, a price-to-earnings ratio of 76.73, a PEG ratio of 1.08 and a beta of 1.50. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.73 and a current ratio of 1.73. Apollo Global Management has a 1 year low of $99.56 and a 1 year high of $157.28. The stock's 50-day moving average is $128.43 and its two-hundred day moving average is $125.86.

Apollo Global Management (NYSE:APO - Get Free Report) last issued its quarterly earnings data on Wednesday, May 6th. The financial services provider reported $1.94 earnings per share for the quarter, beating analysts' consensus estimates of $1.89 by $0.05. The company had revenue of $5.06 billion during the quarter, compared to analysts' expectations of $5.19 billion. Apollo Global Management had a return on equity of 14.43% and a net margin of 3.62%.The firm's revenue for the quarter was down 8.8% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.82 earnings per share. Analysts predict that Apollo Global Management will post 8.25 earnings per share for the current year.

Insider Activity at Apollo Global Management

In related news, insider John P. Zito sold 48,644 shares of the firm's stock in a transaction dated Wednesday, May 27th. The shares were sold at an average price of $130.66, for a total value of $6,355,825.04. Following the completion of the sale, the insider owned 3,063,696 shares in the company, valued at $400,302,519.36. This trade represents a 1.56% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 8.30% of the stock is owned by company insiders.

Institutional Investors Weigh In On Apollo Global Management

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Northside Capital Management LLC increased its stake in Apollo Global Management by 0.3% in the 2nd quarter. Northside Capital Management LLC now owns 61,783 shares of the financial services provider's stock valued at $7,310,000 after purchasing an additional 185 shares in the last quarter. Tema ETFs LLC raised its stake in shares of Apollo Global Management by 5.4% during the 2nd quarter. Tema ETFs LLC now owns 9,699 shares of the financial services provider's stock worth $1,147,000 after buying an additional 494 shares during the last quarter. Doliver Advisors LP boosted its position in shares of Apollo Global Management by 22.5% in the 2nd quarter. Doliver Advisors LP now owns 22,774 shares of the financial services provider's stock worth $2,694,000 after buying an additional 4,178 shares in the last quarter. Handelsbanken Fonder AB grew its stake in Apollo Global Management by 6.2% in the 2nd quarter. Handelsbanken Fonder AB now owns 179,563 shares of the financial services provider's stock valued at $21,244,000 after acquiring an additional 10,533 shares during the last quarter. Finally, Wealth Science Advisors LLC purchased a new position in Apollo Global Management during the 2nd quarter valued at about $459,000. 77.06% of the stock is currently owned by institutional investors and hedge funds.

About Apollo Global Management

Apollo Global Management, Inc NYSE: APO is a global alternative investment manager that specializes in private equity, credit and real assets. The firm originates, invests in and manages a broad set of strategies across distressed and opportunistic credit, direct lending, structured credit, buyouts and real estate. Apollo provides investment management and advisory services to institutional clients and individual investors through pooled funds, separate accounts and publicly listed investment vehicles.

Its private equity business pursues control and non-control investments across industries, often focusing on complex or distressed situations where operational improvement and capital solutions can create value.

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