AppLovin (NASDAQ:APP) Earns Outperform Rating from Analysts at FBN Securities

FBN Securities started coverage on shares of AppLovin (NASDAQ:APP) in a report issued on Friday, MarketBeat.com reports. The firm issued an outperform rating and a $385.00 target price on the stock.

Several other research firms have also commented on APP. Wells Fargo & Company set a $538.00 price target on AppLovin and gave the stock an “overweight” rating in a research report on Thursday, February 27th. Citigroup upped their target price on shares of AppLovin from $460.00 to $600.00 and gave the company a “buy” rating in a research note on Wednesday, February 19th. Macquarie lifted their price target on shares of AppLovin from $270.00 to $450.00 and gave the stock an “outperform” rating in a research note on Friday, December 6th. Jefferies Financial Group upped their price objective on shares of AppLovin from $400.00 to $425.00 and gave the company a “buy” rating in a research report on Wednesday, January 8th. Finally, Bank of America lifted their target price on AppLovin from $375.00 to $580.00 and gave the stock a “buy” rating in a research report on Thursday, February 13th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating, fifteen have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $435.47.

AppLovin Price Performance

AppLovin stock opened at $272.38 on Friday. The firm has a fifty day moving average of $351.86 and a 200-day moving average of $284.38. AppLovin has a 52-week low of $60.67 and a 52-week high of $525.15. The company has a quick ratio of 2.41, a current ratio of 2.41 and a debt-to-equity ratio of 3.70. The firm has a market capitalization of $92.60 billion, a P/E ratio of 60.00, a PEG ratio of 3.02 and a beta of 2.33.

AppLovin (NASDAQ:APP) last announced its quarterly earnings results on Wednesday, February 12th. The company reported $1.73 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.12 by $0.61. AppLovin had a return on equity of 188.55% and a net margin of 33.54%. As a group, analysts predict that AppLovin will post 6.87 EPS for the current year.

Insider Activity at AppLovin

In related news, CTO Vasily Shikin sold 17,500 shares of the company’s stock in a transaction on Monday, March 10th. The stock was sold at an average price of $241.65, for a total transaction of $4,228,875.00. Following the completion of the transaction, the chief technology officer now directly owns 88,389 shares in the company, valued at $21,359,201.85. This represents a 16.53 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Herald Y. Chen sold 200,000 shares of the firm’s stock in a transaction on Friday, February 28th. The shares were sold at an average price of $324.65, for a total value of $64,930,000.00. Following the completion of the sale, the director now owns 621,209 shares in the company, valued at $201,675,501.85. The trade was a 24.35 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 306,900 shares of company stock valued at $106,401,841 in the last quarter. Insiders own 14.69% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. Advisors Asset Management Inc. raised its holdings in shares of AppLovin by 89.7% during the third quarter. Advisors Asset Management Inc. now owns 681 shares of the company’s stock valued at $89,000 after buying an additional 322 shares during the last quarter. Cerity Partners LLC raised its stake in AppLovin by 36.3% during the 3rd quarter. Cerity Partners LLC now owns 18,120 shares of the company’s stock valued at $2,366,000 after acquiring an additional 4,822 shares in the last quarter. Larson Financial Group LLC boosted its position in AppLovin by 9,300.0% during the 3rd quarter. Larson Financial Group LLC now owns 470 shares of the company’s stock worth $61,000 after acquiring an additional 465 shares during the period. Loomis Sayles & Co. L P bought a new position in shares of AppLovin in the third quarter worth $672,000. Finally, Private Trust Co. NA increased its holdings in shares of AppLovin by 86.7% during the third quarter. Private Trust Co. NA now owns 788 shares of the company’s stock valued at $103,000 after purchasing an additional 366 shares during the period. 41.85% of the stock is owned by institutional investors and hedge funds.

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.