AppLovin (NASDAQ:APP) Price Target Lowered to $440.00 at Benchmark

AppLovin (NASDAQ:APP) had its price objective lowered by equities researchers at Benchmark from $500.00 to $440.00 in a research note issued to investors on Monday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. Benchmark’s price target suggests a potential upside of 39.49% from the company’s current price.

Other equities research analysts also recently issued reports about the company. BTIG Research lowered their price target on AppLovin from $574.00 to $408.00 and set a “buy” rating for the company in a report on Wednesday, August 12th. UBS Group lowered their target price on AppLovin from $798.00 to $790.00 and set a “buy” rating for the company in a research note on Thursday, August 6th. Scotiabank reiterated a “sector outperform” rating and issued a $515.00 price target on shares of AppLovin in a report on Thursday, August 6th. Wedbush cut their price objective on shares of AppLovin from $640.00 to $610.00 and set an “outperform” rating on the stock in a research report on Thursday, August 6th. Finally, Piper Sandler cut AppLovin from an “overweight” rating to a “neutral” rating and lowered their target price for the stock from $665.00 to $385.00 in a report on Thursday, August 6th. Three analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and eight have given a Hold rating to the stock. According to MarketBeat, AppLovin has an average rating of “Moderate Buy” and a consensus target price of $563.18.

AppLovin Price Performance

Shares of NASDAQ:APP opened at $315.44 on Monday. The company has a 50 day moving average price of $447.84 and a two-hundred day moving average price of $455.50. The company has a debt-to-equity ratio of 1.11, a quick ratio of 4.30 and a current ratio of 4.30. The company has a market capitalization of $105.56 billion, a PE ratio of 24.25, a PEG ratio of 0.63 and a beta of 2.54. AppLovin has a 52 week low of $303.17 and a 52 week high of $745.61.

AppLovin (NASDAQ:APP) last announced its quarterly earnings results on Tuesday, August 4th. The company reported $3.76 earnings per share for the quarter, hitting analysts’ consensus estimates of $3.76. AppLovin had a net margin of 64.58% and a return on equity of 193.10%. The company had revenue of $1.92 billion for the quarter, compared to analysts’ expectations of $1.94 billion. During the same period last year, the firm posted $2.39 earnings per share. The business’s quarterly revenue was up 52.8% compared to the same quarter last year. Analysts forecast that AppLovin will post 15.57 earnings per share for the current year.

Insider Transactions at AppLovin

In other AppLovin news, insider Victoria Valenzuela sold 20,000 shares of the business’s stock in a transaction dated Thursday, June 4th. The shares were sold at an average price of $565.89, for a total transaction of $11,317,800.00. Following the sale, the insider directly owned 243,961 shares of the company’s stock, valued at $138,055,090.29. The trade was a 7.58% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CFO Matthew Stumpf sold 9,052 shares of the firm’s stock in a transaction dated Thursday, May 28th. The shares were sold at an average price of $600.00, for a total value of $5,431,200.00. Following the completion of the transaction, the chief financial officer owned 177,450 shares of the company’s stock, valued at $106,470,000. The trade was a 4.85% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders sold 393,000 shares of company stock worth $197,297,363. 12.81% of the stock is owned by insiders.

Institutional Investors Weigh In On AppLovin

A number of institutional investors and hedge funds have recently modified their holdings of the company. Washington Trust Advisors Inc. increased its position in AppLovin by 160.0% during the fourth quarter. Washington Trust Advisors Inc. now owns 39 shares of the company’s stock worth $27,000 after buying an additional 24 shares during the last quarter. Mcguire Capital Advisors Inc. acquired a new stake in shares of AppLovin in the fourth quarter valued at approximately $27,000. Laurel Wealth Advisors LLC bought a new position in shares of AppLovin during the 4th quarter worth approximately $32,000. Osbon Capital Management LLC acquired a new position in shares of AppLovin during the 4th quarter worth approximately $36,000. Finally, Dogwood Wealth Management LLC raised its stake in AppLovin by 84.4% in the 4th quarter. Dogwood Wealth Management LLC now owns 59 shares of the company’s stock valued at $40,000 after acquiring an additional 27 shares during the period. 41.85% of the stock is owned by institutional investors.

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.