AppLovin (APP) – Research Analysts’ Recent Ratings Updates

Posted by Stacy Sanders on Apr 29th, 2024

AppLovin (NASDAQ: APP) has recently received a number of price target changes and ratings updates:

4/16/2024 – AppLovin had its price target raised by analysts at Morgan Stanley from $55.00 to $70.00. They now have an “equal weight” rating on the stock.
4/15/2024 – AppLovin is now covered by analysts at Daiwa Capital Markets. They set a “neutral” rating and a $80.00 price target on the stock.
4/11/2024 – AppLovin had its price target raised by analysts at Wedbush from $67.00 to $87.00. They now have an “outperform” rating on the stock.
4/9/2024 – AppLovin had its price target raised by analysts at BTIG Research from $65.00 to $87.00. They now have a “buy” rating on the stock.
4/8/2024 – AppLovin had its price target raised by analysts at Oppenheimer Holdings Inc. from $70.00 to $85.00. They now have an “outperform” rating on the stock.
3/8/2024 – AppLovin was upgraded by analysts at TheStreet from a “d+” rating to a “c-” rating.

AppLovin Price Performance

Shares of AppLovin stock opened at $73.82 on Monday. The stock has a market capitalization of $25.25 billion, a price-to-earnings ratio of 73.82, a PEG ratio of 1.48 and a beta of 1.90. AppLovin Co. has a 1-year low of $15.70 and a 1-year high of $79.55. The firm has a fifty day simple moving average of $67.13 and a 200-day simple moving average of $50.10. The company has a current ratio of 1.71, a quick ratio of 1.71 and a debt-to-equity ratio of 2.31.

AppLovin (NASDAQ:APP – Get Free Report) last released its earnings results on Wednesday, February 14th. The company reported $0.49 EPS for the quarter, beating the consensus estimate of $0.35 by $0.14. The firm had revenue of $953.26 million during the quarter, compared to analysts’ expectations of $928.66 million. AppLovin had a net margin of 10.84% and a return on equity of 24.69%. The business’s quarterly revenue was up 35.7% compared to the same quarter last year. During the same period in the prior year, the company earned ($0.21) EPS. On average, sell-side analysts expect that AppLovin Co. will post 2.49 earnings per share for the current year.

Insider Buying and Selling at AppLovin

In other news, Director Craig Scott Billings sold 5,550 shares of the 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 completion of the transaction, the director now owns 12,739 shares in the company, valued at approximately $743,065.87. The sale was disclosed in a filing with the SEC, which is available at this link. In other news, insider Victoria Valenzuela sold 2,890 shares of the 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 completion of the transaction, the insider now owns 546,560 shares in the company, valued at approximately $31,569,305.60. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director Craig Scott Billings sold 5,550 shares of the stock in a transaction dated Tuesday, February 20th. The stock was sold at an average price of $58.33, for a total transaction of $323,731.50. Following the sale, the director now owns 12,739 shares of the company’s stock, valued at approximately $743,065.87. The disclosure for this sale can be found here. Insiders have sold 61,215 shares of company stock valued at $4,416,815 in the last 90 days. 12.43% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On AppLovin

A number of hedge funds have recently made changes to their positions in the company. New York State Teachers Retirement System acquired a new stake in AppLovin in the 1st quarter valued at about $491,000. WCM Investment Management LLC acquired a new stake in AppLovin in the 1st quarter valued at about $497,488,000. TRUE Private Wealth Advisors acquired a new stake in AppLovin in the 1st quarter valued at about $208,000. Fjarde AP Fonden Fourth Swedish National Pension Fund acquired a new stake in AppLovin in the 1st quarter valued at about $3,025,000. Finally, Dakota Wealth Management increased its position in AppLovin by 504.4% in the 1st quarter. Dakota Wealth Management now owns 58,587 shares of the company’s stock valued at $4,055,000 after acquiring an additional 48,894 shares in the last quarter. Institutional investors and hedge funds own 41.85% of the company’s stock.

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.