Jefferies Financial Group Raises AppLovin (NASDAQ:APP) Price Target to $108.00

AppLovin (NASDAQ:APP) had its price target lifted by Jefferies Financial Group from $105.00 to $108.00 in a research note issued to investors on Tuesday, Benzinga reports. The brokerage currently has a buy rating on the stock.

A number of other research analysts also recently commented on the company. Wedbush lowered their price objective on AppLovin from $100.00 to $90.00 and set an outperform rating for the company in a research note on Thursday, August 8th. Oppenheimer restated an outperform rating and set a $105.00 price objective (up from $97.00) on shares of AppLovin in a research note on Thursday, August 8th. Finally, Benchmark upped their price objective on AppLovin from $48.00 to $66.00 and gave the stock a sell rating in a research note on Friday, August 23rd. One analyst has rated the stock with a sell rating, four have issued a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, AppLovin has an average rating of Moderate Buy and an average target price of $91.78.

AppLovin Stock Performance

Shares of APP opened at $112.58 on Tuesday. The business’s 50 day moving average is $84.08 and its two-hundred day moving average is $78.11. AppLovin has a 52-week low of $34.45 and a 52-week high of $112.88. The firm has a market cap of $37.63 billion, a price-to-earnings ratio of 67.01, a PEG ratio of 1.41 and a beta of 1.88. The company has a quick ratio of 2.28, a current ratio of 2.28 and a debt-to-equity ratio of 4.27.

AppLovin (NASDAQ:APP) last announced its earnings results on Wednesday, August 7th. The company reported $0.89 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.77 by $0.12. AppLovin had a return on equity of 84.16% and a net margin of 20.89%. The company had revenue of $1.08 billion for the quarter, compared to analyst estimates of $1.08 billion. During the same period in the prior year, the company posted $0.22 EPS. AppLovin’s quarterly revenue was up 44.0% on a year-over-year basis. Analysts forecast that AppLovin will post 3.46 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, Director Eduardo Vivas sold 229,200 shares of the firm’s stock in a transaction that occurred on Friday, August 16th. The shares were sold at an average price of $86.35, for a total value of $19,791,420.00. Following the completion of the transaction, the director now owns 7,412,475 shares of the company’s stock, valued at approximately $640,067,216.25. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other AppLovin news, Director Eduardo Vivas sold 229,200 shares of the firm’s stock in a transaction dated Friday, August 16th. The stock was sold at an average price of $86.35, for a total transaction of $19,791,420.00. Following the completion of the sale, the director now directly owns 7,412,475 shares in the company, valued at approximately $640,067,216.25. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Victoria Valenzuela sold 47,001 shares of the company’s stock in a transaction that occurred on Monday, July 1st. The shares were sold at an average price of $85.06, for a total transaction of $3,997,905.06. Following the completion of the transaction, the insider now owns 390,615 shares in the company, valued at approximately $33,225,711.90. The disclosure for this sale can be found here. In the last quarter, insiders have sold 775,934 shares of company stock worth $65,805,022. Company insiders own 14.69% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the company. Mitsubishi UFJ Trust & Banking Corp boosted its position in AppLovin by 9,470.1% during the first quarter. Mitsubishi UFJ Trust & Banking Corp now owns 250,641 shares of the company’s stock worth $17,336,000 after purchasing an additional 248,022 shares during the period. Gulf International Bank UK Ltd acquired a new position in shares of AppLovin during the 1st quarter worth about $1,131,000. Acadian Asset Management LLC boosted its stake in AppLovin by 2,081.4% during the 1st quarter. Acadian Asset Management LLC now owns 16,339 shares of the company’s stock valued at $1,127,000 after purchasing an additional 15,590 shares during the period. Janney Montgomery Scott LLC grew its holdings in AppLovin by 167.0% in the 1st quarter. Janney Montgomery Scott LLC now owns 16,146 shares of the company’s stock valued at $1,118,000 after buying an additional 10,099 shares during the last quarter. Finally, Park Avenue Securities LLC bought a new position in AppLovin in the 2nd quarter worth approximately $1,195,000. Hedge funds and other institutional investors own 41.85% of the company’s stock.

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.