AppLovin Corporation (NASDAQ:APP) Given Average Recommendation of “Moderate Buy” by Analysts

AppLovin Corporation (NASDAQ:APPGet Free Report) has been given a consensus rating of “Moderate Buy” by the twenty-three ratings firms that are presently covering the company, MarketBeat.com reports. Five analysts have rated the stock with a hold recommendation, seventeen have issued a buy recommendation and one has given a strong buy recommendation to the company. The average twelve-month price objective among brokers that have issued a report on the stock in the last year is $664.35.

Several equities research analysts have recently weighed in on APP shares. Zacks Research cut shares of AppLovin from a “strong-buy” rating to a “hold” rating in a research report on Thursday, February 12th. JPMorgan Chase & Co. upped their price target on shares of AppLovin from $500.00 to $515.00 and gave the company a “neutral” rating in a research report on Thursday, May 7th. Evercore reiterated a “buy” rating on shares of AppLovin in a report on Friday, January 30th. Royal Bank Of Canada reissued an “outperform” rating and issued a $700.00 price objective on shares of AppLovin in a research report on Thursday, February 12th. Finally, Benchmark reissued a “buy” rating on shares of AppLovin in a research note on Friday, March 6th.

View Our Latest Analysis on AppLovin

AppLovin Price Performance

AppLovin stock opened at $453.53 on Friday. The stock’s 50 day moving average is $445.97 and its 200 day moving average is $530.27. AppLovin has a one year low of $320.00 and a one year high of $745.61. The firm has a market cap of $152.97 billion, a P/E ratio of 38.96, a P/E/G ratio of 0.80 and a beta of 2.37. The company has a debt-to-equity ratio of 1.49, a current ratio of 3.24 and a quick ratio of 3.24.

AppLovin (NASDAQ:APPGet Free Report) last released its earnings results on Wednesday, May 6th. The company reported $3.56 earnings per share for the quarter, beating analysts’ consensus estimates of $3.44 by $0.12. AppLovin had a net margin of 64.29% and a return on equity of 219.37%. The business had revenue of $1.84 billion during the quarter, compared to the consensus estimate of $1.77 billion. During the same quarter in the prior year, the firm posted $1.67 EPS. The company’s revenue for the quarter was up 58.9% compared to the same quarter last year. As a group, research analysts expect that AppLovin will post 15.86 EPS for the current year.

Key Headlines Impacting AppLovin

Here are the key news stories impacting AppLovin this week:

Insiders Place Their Bets

In other AppLovin news, CTO Vasily Shikin sold 5,231 shares of the business’s stock in a transaction that occurred on Tuesday, March 10th. The stock was sold at an average price of $477.47, for a total value of $2,497,645.57. Following the transaction, the chief technology officer directly owned 30,658 shares of the company’s stock, valued at approximately $14,638,275.26. The trade was a 14.58% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Arash Adam Foroughi sold 40,704 shares of the stock in a transaction that occurred on Thursday, March 12th. The stock was sold at an average price of $459.85, for a total value of $18,717,734.40. Following the transaction, the chief executive officer owned 2,430,414 shares in the company, valued at $1,117,625,877.90. The trade was a 1.65% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders sold 365,244 shares of company stock worth $169,584,607. 13.66% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On AppLovin

A number of large investors have recently bought and sold shares of the stock. CBIZ Investment Advisory Services LLC raised its holdings in shares of AppLovin by 58.6% during the third quarter. CBIZ Investment Advisory Services LLC now owns 46 shares of the company’s stock valued at $33,000 after purchasing an additional 17 shares during the period. Redhawk Wealth Advisors Inc. grew its stake in shares of AppLovin by 2.9% in the 4th quarter. Redhawk Wealth Advisors Inc. now owns 640 shares of the company’s stock valued at $431,000 after buying an additional 18 shares during the period. Verdence Capital Advisors LLC grew its stake in shares of AppLovin by 5.7% in the 4th quarter. Verdence Capital Advisors LLC now owns 333 shares of the company’s stock valued at $224,000 after buying an additional 18 shares during the period. Versant Capital Management Inc increased its position in AppLovin by 2.8% in the 3rd quarter. Versant Capital Management Inc now owns 701 shares of the company’s stock valued at $504,000 after buying an additional 19 shares in the last quarter. Finally, Claro Advisors LLC increased its position in AppLovin by 3.2% in the 3rd quarter. Claro Advisors LLC now owns 647 shares of the company’s stock valued at $465,000 after buying an additional 20 shares in the last quarter. 41.85% of the stock is currently owned by institutional investors and hedge funds.

About AppLovin

(Get Free Report)

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.

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Analyst Recommendations for AppLovin (NASDAQ:APP)

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