AppLovin (NASDAQ:APP – Get Free Report)‘s stock had its “outperform” rating restated by stock analysts at Oppenheimer in a note issued to investors on Thursday, Benzinga reports. They currently have a $520.00 target price on the stock, up from their prior target price of $490.00. Oppenheimer‘s price target indicates a potential upside of 49.92% from the company’s previous close.
Several other analysts have also commented on APP. Piper Sandler reaffirmed a “neutral” rating and set a $355.00 price target (up from $325.00) on shares of AppLovin in a research report on Thursday. Benchmark lowered their price objective on AppLovin from $500.00 to $440.00 and set a “buy” rating for the company in a research report on Monday, August 17th. HSBC cut their target price on AppLovin from $450.00 to $409.00 and set a “buy” rating for the company in a research note on Monday, October 5th. Evercore restated an “outperform” rating and issued a $510.00 target price (down from $630.00) on shares of AppLovin in a research report on Tuesday, September 1st. Finally, Raymond James Financial decreased their price target on AppLovin from $640.00 to $590.00 in a research note on Thursday, August 6th. Three research analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and eight have issued a Hold rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $496.43.
AppLovin Trading Up 27.6%
AppLovin stock traded up $75.11 during midday trading on Thursday, hitting $346.86. 15,409,294 shares of the stock were exchanged, compared to its average volume of 5,560,123. The company has a current ratio of 4.30, a quick ratio of 4.30 and a debt-to-equity ratio of 1.11. The stock’s 50-day simple moving average is $290.82 and its 200 day simple moving average is $411.84. AppLovin has a fifty-two week low of $225.19 and a fifty-two week high of $738.01. The stock has a market capitalization of $116.08 billion, a price-to-earnings ratio of 26.63, a PEG ratio of 0.55 and a beta of 2.51.
AppLovin (NASDAQ:APP – Get Free Report) last posted its earnings results on Wednesday, November 4th. The company reported $4.30 earnings per share for the quarter, beating the consensus estimate of $4.03 by $0.27. AppLovin had a net margin of 64.58% and a return on equity of 193.10%. The company had revenue of $2.18 billion for the quarter, compared to analyst estimates of $2.07 billion. During the same period in the previous year, the business posted $2.45 EPS. AppLovin’s revenue was up 55.5% on a year-over-year basis. On average, equities analysts anticipate that AppLovin will post 15.61 EPS for the current year.
Hedge Funds Weigh In On AppLovin
A number of hedge funds have recently made changes to their positions in APP. Signature Estate & Investment Advisors LLC grew its holdings in AppLovin by 3,695.3% in the second quarter. Signature Estate & Investment Advisors LLC now owns 76,361 shares of the company’s stock valued at $39,345,000 after purchasing an additional 74,349 shares during the last quarter. Insight Wealth Strategies LLC acquired a new position in shares of AppLovin during the 2nd quarter worth $6,939,000. Generate Investment Management Ltd acquired a new position in shares of AppLovin during the 2nd quarter worth $7,226,000. Saudi Central Bank raised its stake in shares of AppLovin by 88.7% during the 2nd quarter. Saudi Central Bank now owns 16,070 shares of the company’s stock worth $8,280,000 after buying an additional 7,555 shares during the last quarter. Finally, Nykredit A S purchased a new stake in shares of AppLovin in the 2nd quarter worth about $41,902,000. Hedge funds and other institutional investors own 41.85% of the company’s stock.
AppLovin News Roundup
Here are the key news stories impacting AppLovin this week:
- Positive Sentiment: AppLovin reported Q3 revenue of $2.18 billion, up 55.5% year over year, and earnings of $4.30 per share—both ahead of analyst expectations. Net income rose 72% to about $1.44 billion. Article: AppLovin delivers strong Q3 numbers
- Positive Sentiment: Management forecast Q4 revenue of $2.365 billion to $2.395 billion, above analysts’ estimates, and expanded its share repurchase authorization to $3.6 billion. The outlook and buyback reinforce confidence in growth and cash generation. Article: AppLovin Q3 earnings call highlights
- Positive Sentiment: Analysts responded with price-target increases: BTIG raised its target to $450 and Needham reaffirmed Buy with a $475 target. Article: Analysts revise forecasts after Q3
- Negative Sentiment: A securities class action alleges AppLovin made misleading statements about progress on its AI models and the readiness of its generative-AI video tool. The lawsuit adds legal and reputational risk, though the allegations are not proven. Article: AppLovin securities class action notice
AppLovin Company Profile
AppLovin Corporation is a technology company that provides software and services designed to help mobile application developers grow, monetize and operate their businesses. Its platform supports user acquisition, advertising, mediation, analytics and other functions across the mobile app ecosystem.
The company’s principal products include AppDiscovery, which helps developers market their applications and acquire users; MAX, an in-app bidding and monetization platform; and its AXON technology, an artificial intelligence-powered engine intended to improve advertising performance and match users with relevant applications and content.
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