AppLovin Corporation (NASDAQ:APP) Receives Consensus Recommendation of “Moderate Buy” from Brokerages

Shares of AppLovin Corporation (NASDAQ:APP) have received a consensus recommendation of “Moderate Buy” from the twenty-five ratings firms that are covering the firm, MarketBeat.com reports. One analyst has rated the stock with a sell rating, three have given a hold rating and twenty-one have given a buy rating to the company. The average 1 year price objective among analysts that have issued a report on the stock in the last year is $658.1364.

Several equities research analysts recently issued reports on APP shares. Citigroup cut their price target on AppLovin from $820.00 to $710.00 and set a “buy” rating for the company in a research note on Thursday, February 12th. Weiss Ratings upgraded AppLovin from a “hold (c+)” rating to a “buy (b-)” rating in a report on Friday, February 20th. Arete Research set a $340.00 target price on shares of AppLovin in a research report on Monday. Morgan Stanley set a $720.00 target price on AppLovin in a research report on Thursday, February 12th. Finally, JPMorgan Chase & Co. raised their target price on AppLovin from $425.00 to $650.00 and gave the company a “neutral” rating in a research note on Thursday, November 6th.

Insiders Place Their Bets

In other news, insider Victoria Valenzuela sold 7,609 shares of the company’s stock in a transaction dated Thursday, December 18th. The stock was sold at an average price of $657.13, for a total transaction of $5,000,102.17. Following the sale, the insider directly owned 277,110 shares in the company, valued at $182,097,294.30. This represents a 2.67% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director Dawson Alyssa Harvey sold 150 shares of the company’s stock in a transaction dated Monday, December 8th. The stock was sold at an average price of $693.32, for a total value of $103,998.00. Following the completion of the transaction, the director owned 2,829 shares in the company, valued at $1,961,402.28. This represents a 5.04% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 13.66% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On AppLovin

Several institutional investors have recently bought and sold shares of APP. Vanguard Group Inc. grew its stake in shares of AppLovin by 0.7% in the fourth quarter. Vanguard Group Inc. now owns 25,120,575 shares of the company’s stock worth $16,926,746,000 after purchasing an additional 166,117 shares during the last quarter. State Street Corp lifted its holdings in AppLovin by 0.4% in the 4th quarter. State Street Corp now owns 11,904,843 shares of the company’s stock worth $8,021,721,000 after buying an additional 52,377 shares during the period. Geode Capital Management LLC grew its position in shares of AppLovin by 6.7% in the 4th quarter. Geode Capital Management LLC now owns 7,167,003 shares of the company’s stock worth $4,817,269,000 after buying an additional 448,005 shares during the last quarter. Price T Rowe Associates Inc. MD increased its stake in shares of AppLovin by 3.6% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 6,089,735 shares of the company’s stock valued at $4,103,386,000 after buying an additional 212,349 shares during the period. Finally, Morgan Stanley lifted its stake in AppLovin by 10.7% in the fourth quarter. Morgan Stanley now owns 5,561,646 shares of the company’s stock worth $3,747,551,000 after acquiring an additional 538,806 shares during the period. 41.85% of the stock is currently owned by hedge funds and other institutional investors.

AppLovin Trading Down 2.3%

Shares of AppLovin stock opened at $434.77 on Monday. The stock has a market cap of $146.64 billion, a P/E ratio of 44.59, a P/E/G ratio of 0.89 and a beta of 2.51. The company has a quick ratio of 3.32, a current ratio of 3.32 and a debt-to-equity ratio of 1.65. AppLovin has a 12-month low of $200.50 and a 12-month high of $745.61. The business’s 50 day moving average is $539.46 and its 200-day moving average is $572.35.

AppLovin (NASDAQ:APP) last issued its earnings results on Wednesday, February 11th. The company reported $3.24 earnings per share for the quarter, topping analysts’ consensus estimates of $2.89 by $0.35. AppLovin had a net margin of 57.42% and a return on equity of 245.64%. The business had revenue of $1.66 billion for the quarter, compared to the consensus estimate of $1.61 billion. During the same period in the previous year, the company earned $1.73 earnings per share. The firm’s revenue for the quarter was up 66.0% on a year-over-year basis. Equities research analysts predict that AppLovin will post 6.87 earnings per share for the current fiscal year.

AppLovin Company Profile

AppLovin Corporation is a Palo Alto–based mobile technology company that provides software and services to help app developers grow and monetize their businesses. The company operates a data-driven advertising and marketing platform that connects app publishers and advertisers, delivering tools for user acquisition, monetization, analytics and creative optimization. AppLovin’s technology is integrated into a broad set of mobile applications through software development kits (SDKs) and ad products designed to maximize revenue and engagement for developers.

Key components of AppLovin’s offering include an ad mediation and exchange platform that enables publishers to manage and monetize inventory across multiple demand sources, and a user-acquisition platform that helps advertisers target and scale campaigns.