UBS Group Issues Positive Forecast for AppLovin (NASDAQ:APP) Stock Price

AppLovin (NASDAQ:APP) had its price target increased by UBS Group from $450.00 to $475.00 in a research report sent to investors on Thursday morning,Benzinga reports. UBS Group currently has a buy rating on the stock.

APP has been the topic of a number of other research reports. The Goldman Sachs Group decreased their price objective on AppLovin from $500.00 to $335.00 and set a “neutral” rating on the stock in a research note on Monday, April 14th. Wells Fargo & Company lifted their price target on shares of AppLovin from $386.00 to $405.00 and gave the stock an “overweight” rating in a report on Thursday. Benchmark reissued a “buy” rating and set a $525.00 price objective on shares of AppLovin in a research note on Thursday. Jefferies Financial Group lifted their target price on shares of AppLovin from $460.00 to $530.00 and gave the stock a “buy” rating in a research note on Thursday. Finally, HSBC set a $436.00 price target on AppLovin and gave the stock a “buy” rating in a research note on Wednesday, April 23rd. One analyst has rated the stock with a sell rating, three have given a hold rating, seventeen have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $428.85.

AppLovin Stock Up 11.9 %

Shares of AppLovin stock opened at $339.51 on Thursday. The company has a market cap of $115.42 billion, a P/E ratio of 74.78, a PEG ratio of 3.02 and a beta of 2.39. AppLovin has a one year low of $60.67 and a one year high of $525.15. The firm has a fifty day moving average of $275.52 and a two-hundred day moving average of $309.36. The company has a debt-to-equity ratio of 3.70, a quick ratio of 2.41 and a current ratio of 2.41.

AppLovin (NASDAQ:APP) last announced its quarterly earnings data on Wednesday, May 7th. The company reported $1.67 earnings per share for the quarter, topping analysts’ consensus estimates of $1.45 by $0.22. The firm had revenue of $1.48 billion for the quarter, compared to analyst estimates of $1.38 billion. AppLovin had a return on equity of 188.55% and a net margin of 33.54%. AppLovin’s quarterly revenue was up 40.3% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.67 earnings per share. On average, analysts forecast that AppLovin will post 6.87 earnings per share for the current year.

Insider Buying and Selling at AppLovin

In other AppLovin news, Director Herald Y. Chen sold 200,000 shares of the company’s stock in a transaction dated Friday, February 28th. The shares were sold at an average price of $324.65, for a total value of $64,930,000.00. Following the completion of the transaction, the director now directly owns 621,209 shares of the company’s stock, valued at $201,675,501.85. This represents a 24.35 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CTO Vasily Shikin sold 17,500 shares of AppLovin stock in a transaction dated Monday, March 10th. The stock was sold at an average price of $241.65, for a total value of $4,228,875.00. Following the sale, the chief technology officer now directly owns 88,389 shares in the company, valued at approximately $21,359,201.85. The trade was a 16.53 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 306,900 shares of company stock valued at $106,401,841 over the last three months. 14.69% of the stock is owned by company insiders.

Hedge Funds Weigh In On AppLovin

Several institutional investors and hedge funds have recently made changes to their positions in APP. JFS Wealth Advisors LLC raised its holdings in AppLovin by 38.2% in the fourth quarter. JFS Wealth Advisors LLC now owns 105 shares of the company’s stock valued at $34,000 after acquiring an additional 29 shares in the last quarter. HighPoint Advisor Group LLC raised its stake in shares of AppLovin by 1.7% in the 4th quarter. HighPoint Advisor Group LLC now owns 1,822 shares of the company’s stock valued at $590,000 after purchasing an additional 31 shares in the last quarter. Quadrant Capital Group LLC lifted its position in shares of AppLovin by 6.7% during the fourth quarter. Quadrant Capital Group LLC now owns 526 shares of the company’s stock worth $170,000 after purchasing an additional 33 shares during the last quarter. Forum Financial Management LP lifted its position in shares of AppLovin by 0.9% during the fourth quarter. Forum Financial Management LP now owns 3,776 shares of the company’s stock worth $1,223,000 after purchasing an additional 33 shares during the last quarter. Finally, Vestcor Inc grew its stake in AppLovin by 0.8% in the first quarter. Vestcor Inc now owns 4,108 shares of the company’s stock worth $1,088,000 after purchasing an additional 33 shares in the last quarter. 41.85% of the stock is currently owned by hedge funds and other institutional investors.

About AppLovin

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.