AppLovin (NASDAQ:APP) Earns Buy Rating from Analysts at Argus

Equities research analysts at Argus began coverage on shares of AppLovin (NASDAQ:APP) in a note issued to investors on Tuesday. The firm set a “buy” rating and a $520.00 price target on the stock. Argus’ price target suggests a potential upside of 24.57% from the stock’s current price.

Several other equities research analysts have also recently commented on the stock. UBS Group set a $740.00 price target on shares of AppLovin in a research report on Thursday, February 12th. Piper Sandler reissued an “overweight” rating and set a $650.00 price target (down from $800.00) on shares of AppLovin in a research report on Thursday, February 12th. Morgan Stanley set a $720.00 price target on shares of AppLovin in a research report on Thursday, February 12th. Royal Bank Of Canada reiterated an “outperform” rating and issued a $700.00 price target on shares of AppLovin in a research note on Thursday, February 12th. Finally, The Goldman Sachs Group cut their price target on shares of AppLovin from $710.00 to $585.00 and set a “neutral” rating for the company in a research note on Thursday, February 12th. Nineteen research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $661.95.

AppLovin Trading Up 6.7%

Shares of NASDAQ:APP opened at $417.45 on Tuesday. The company’s 50-day moving average price is $425.24 and its two-hundred day moving average price is $552.27. The company has a debt-to-equity ratio of 1.65, a current ratio of 3.32 and a quick ratio of 3.32. AppLovin has a one year low of $222.02 and a one year high of $745.61. The stock has a market capitalization of $140.80 billion, a PE ratio of 42.82, a price-to-earnings-growth ratio of 0.68 and a beta of 2.50.

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

Insider Transactions at AppLovin

In other news, CEO Arash Adam Foroughi sold 40,704 shares of the firm’s stock in a transaction dated Thursday, March 12th. The shares were sold at an average price of $459.85, for a total transaction of $18,717,734.40. Following the completion of the sale, the chief executive officer owned 2,430,414 shares in the company, valued at approximately $1,117,625,877.90. This trade represents a 1.65% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CTO Vasily Shikin sold 5,231 shares of the firm’s stock in a transaction dated Tuesday, March 10th. The stock was sold at an average price of $477.47, for a total transaction of $2,497,645.57. Following the sale, the chief technology officer owned 30,658 shares of the company’s stock, valued at approximately $14,638,275.26. This represents a 14.58% decrease in their position. The SEC filing for this sale provides additional information. In the last 90 days, insiders sold 365,244 shares of company stock worth $169,584,607. 13.66% of the stock is owned by insiders.

Institutional Trading of AppLovin

A number of hedge funds have recently modified their holdings of the stock. Purpose Unlimited Inc. acquired a new stake in AppLovin in the 4th quarter worth about $9,097,000. Rockefeller Capital Management L.P. raised its stake in AppLovin by 66.9% in the 4th quarter. Rockefeller Capital Management L.P. now owns 22,957 shares of the company’s stock worth $15,470,000 after purchasing an additional 9,198 shares in the last quarter. Osbon Capital Management LLC acquired a new stake in AppLovin in the 4th quarter worth about $36,000. World Investment Advisors raised its stake in AppLovin by 261.6% in the 4th quarter. World Investment Advisors now owns 5,627 shares of the company’s stock worth $3,791,000 after purchasing an additional 4,071 shares in the last quarter. Finally, Nalls Sherbakoff Group LLC acquired a new stake in AppLovin in the 4th quarter worth about $270,000. Institutional investors and hedge funds own 41.85% of the company’s stock.

About AppLovin

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.