AppLovin (NASDAQ:APP) Share Price Breaks Above 200 Day Moving Average - Here's Why

AppLovin Corporation (NASDAQ:APP - Get Free Report)'s share price passed above its two hundred day moving average during trading on Friday. The stock has a two hundred day moving average of $406.68 and traded as high as $413.88. AppLovin shares last traded at $409.10, with a volume of 3,426,478 shares trading hands.

Key AppLovin News

Here's some of the latest news about APP:

• Negative Sentiment: Several law firms are publicizing a pending securities class action, with a November 16 lead-plaintiff deadline. The complaint alleges AppLovin executives made misleading statements about the readiness, integration, and adoption of its AI models and self-service ad tools. These are allegations, not findings, but the litigation could add uncertainty and reputational risk. Article: AppLovin Securities Class Action Alert
• Negative Sentiment: ETFs were net sellers of $16.7 million in AppLovin shares on Nov. 11, a modest sign of selling pressure. Article: ETFs Are Net Sellers of AppLovin
• Negative Sentiment: A Seeking Alpha article downgraded the stock, arguing valuation outweighs execution; this may temper enthusiasm after the recent rally. Article: AppLovin Valuation Trumps Execution

Analyst Ratings Changes

Several equities research analysts have commented on APP shares. UBS Group cut their price target on shares of AppLovin from $790.00 to $414.00 and set a "buy" rating on the stock in a research report on Wednesday, October 28th. Raymond James Financial lowered their price target on AppLovin from $640.00 to $590.00 in a research report on Thursday, August 6th. Bank of America downgraded AppLovin from a "buy" rating to a "neutral" rating and cut their price objective for the company from $430.00 to $400.00 in a report on Tuesday, August 11th. Morgan Stanley decreased their target price on shares of AppLovin from $450.00 to $400.00 and set an "overweight" rating for the company in a research note on Tuesday, October 13th. Finally, Oppenheimer restated an "outperform" rating and set a $520.00 target price (up from $490.00) on shares of AppLovin in a report on Thursday, November 5th. Three analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating and eight have given a Hold rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $497.93.

AppLovin Trading Up 3.9%

The company has a market capitalization of $135.54 billion, a price-to-earnings ratio of 27.53, a price-to-earnings-growth ratio of 0.80 and a beta of 2.51. The firm has a fifty day moving average price of $302.13 and a 200-day moving average price of $406.68. The company has a debt-to-equity ratio of 1.07, a quick ratio of 3.80 and a current ratio of 3.80.

AppLovin (NASDAQ:APP - Get Free Report) last released its earnings results on Wednesday, November 4th. The company reported $4.30 EPS for the quarter, beating the consensus estimate of $4.03 by $0.27. The firm had revenue of $2.18 billion for the quarter, compared to analyst estimates of $2.07 billion. AppLovin had a net margin of 65.89% and a return on equity of 182.97%. The business's quarterly revenue was up 55.5% compared to the same quarter last year. During the same period last year, the firm earned $2.45 EPS. As a group, equities analysts anticipate that AppLovin Corporation will post 16.25 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of APP. Marshall Wace LLP grew its holdings in AppLovin by 88.3% during the 3rd quarter. Marshall Wace LLP now owns 379,413 shares of the company's stock worth $110,193,000 after acquiring an additional 177,913 shares during the last quarter. Empowered Funds LLC lifted its holdings in AppLovin by 57.6% during the 3rd quarter. Empowered Funds LLC now owns 108,256 shares of the company's stock worth $31,441,000 after buying an additional 39,579 shares during the period. Knollwood Investment Advisory LLC lifted its holdings in AppLovin by 384.7% during the 3rd quarter. Knollwood Investment Advisory LLC now owns 4,711 shares of the company's stock worth $1,368,000 after buying an additional 3,739 shares during the period. Kovack Advisors Inc. boosted its holdings in AppLovin by 46.3% in the third quarter. Kovack Advisors Inc. now owns 4,214 shares of the company's stock valued at $1,224,000 after acquiring an additional 1,333 shares during the last quarter. Finally, Advisory Alpha LLC acquired a new stake in AppLovin during the 3rd quarter valued at approximately $1,172,000. Institutional investors own 41.85% of the company's stock.

AppLovin Company Profile

AppLovin is a technology company that provides software to help mobile app developers and advertisers grow their businesses. Its platform connects advertisers seeking users with app publishers looking to monetize their audiences, using data and machine-learning tools to support advertising and user acquisition. The company's products include AXON, its advertising optimization engine; AppDiscovery, which helps advertisers find and acquire users; and MAX, a platform for managing in-app advertising.

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