AppLovin (NASDAQ:APP) Price Target Raised to $200.00 at JPMorgan Chase & Co.

AppLovin (NASDAQ:APP) had its price objective increased by equities research analysts at JPMorgan Chase & Co. from $160.00 to $200.00 in a research report issued on Thursday,Benzinga reports. The brokerage presently has a “neutral” rating on the stock. JPMorgan Chase & Co.‘s price target suggests a potential downside of 18.61% from the company’s previous close.

A number of other research firms have also recently issued reports on APP. Loop Capital started coverage on AppLovin in a research note on Tuesday, October 22nd. They issued a “buy” rating and a $181.00 target price on the stock. Benchmark reiterated a “sell” rating and set a $66.00 price objective on shares of AppLovin in a research report on Thursday. The Goldman Sachs Group cut AppLovin from a “buy” rating to a “neutral” rating and raised their target price for the company from $103.00 to $150.00 in a research report on Monday, October 14th. Wedbush reiterated an “outperform” rating and set a $270.00 price target (up previously from $170.00) on shares of AppLovin in a research report on Thursday. Finally, Citigroup raised their price target on AppLovin from $155.00 to $185.00 and gave the company a “buy” rating in a report on Tuesday, October 22nd. One analyst has rated the stock with a sell rating, five have given a hold rating and twelve have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $149.72.

AppLovin Stock Performance

Shares of APP stock traded up $77.19 on Thursday, hitting $245.74. 12,534,979 shares of the stock traded hands, compared to its average volume of 4,183,029. The company’s fifty day moving average is $132.23 and its 200 day moving average is $98.51. AppLovin has a 1-year low of $35.79 and a 1-year high of $257.43. The company has a market capitalization of $82.14 billion, a PE ratio of 104.57, a PEG ratio of 2.36 and a beta of 1.86. The company has a debt-to-equity ratio of 4.27, a current ratio of 2.28 and a quick ratio of 2.28.

AppLovin (NASDAQ:APP) last announced its quarterly earnings data on Wednesday, August 7th. The company reported $0.89 earnings per share for the quarter, beating analysts’ consensus estimates of $0.77 by $0.12. The business had revenue of $1.08 billion during the quarter, compared to the consensus estimate of $1.08 billion. AppLovin had a net margin of 20.89% and a return on equity of 84.16%. The company’s revenue for the quarter was up 44.0% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.22 EPS. On average, equities research analysts predict that AppLovin will post 3.47 earnings per share for the current fiscal year.

Insider Transactions at AppLovin

In other AppLovin news, CFO Matthew Stumpf sold 60,615 shares of the company’s stock in a transaction on Tuesday, August 13th. The stock was sold at an average price of $79.63, for a total value of $4,826,772.45. Following the transaction, the chief financial officer now owns 254,458 shares of the company’s stock, valued at approximately $20,262,490.54. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, CFO Matthew Stumpf sold 60,615 shares of the stock in a transaction on Tuesday, August 13th. The stock was sold at an average price of $79.63, for a total value of $4,826,772.45. Following the completion of the transaction, the chief financial officer now owns 254,458 shares in the company, valued at $20,262,490.54. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Dawson Alyssa Harvey sold 1,500 shares of the business’s stock in a transaction dated Tuesday, September 10th. The stock was sold at an average price of $87.90, for a total value of $131,850.00. Following the sale, the director now owns 10,247 shares in the company, valued at approximately $900,711.30. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 610,094 shares of company stock valued at $51,022,478 in the last quarter. Insiders own 14.69% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. HM Payson & Co. grew its stake in AppLovin by 50.0% in the third quarter. HM Payson & Co. now owns 300 shares of the company’s stock valued at $39,000 after purchasing an additional 100 shares in the last quarter. Aptus Capital Advisors LLC increased its holdings in AppLovin by 0.3% in the third quarter. Aptus Capital Advisors LLC now owns 33,478 shares of the company’s stock worth $4,371,000 after buying an additional 104 shares during the last quarter. Ashton Thomas Securities LLC raised its position in AppLovin by 2.6% during the third quarter. Ashton Thomas Securities LLC now owns 4,797 shares of the company’s stock valued at $626,000 after acquiring an additional 121 shares in the last quarter. GAMMA Investing LLC raised its position in AppLovin by 8.2% during the third quarter. GAMMA Investing LLC now owns 1,665 shares of the company’s stock valued at $217,000 after acquiring an additional 126 shares in the last quarter. Finally, American Trust lifted its stake in AppLovin by 2.8% in the first quarter. American Trust now owns 5,550 shares of the company’s stock valued at $384,000 after acquiring an additional 150 shares during the last quarter. Hedge funds and other institutional investors own 41.85% of the company’s stock.

AppLovin Company Profile

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.