AppLovin (NASDAQ:APP) Stock Price Expected to Rise, Jefferies Financial Group Analyst Says

AppLovin (NASDAQ:APP) had its price objective boosted by equities researchers at Jefferies Financial Group from $460.00 to $530.00 in a research note issued on Thursday,Benzinga reports. The firm presently has a “buy” rating on the stock. Jefferies Financial Group’s price target indicates a potential upside of 61.20% from the company’s previous close.

Other equities research analysts have also issued research reports about the stock. JPMorgan Chase & Co. lifted their target price on shares of AppLovin from $270.00 to $355.00 and gave the company a “neutral” rating in a research note on Thursday. Citigroup upped their target price on AppLovin from $460.00 to $600.00 and gave the stock a “buy” rating in a report on Wednesday, February 19th. Morgan Stanley raised their target price on AppLovin from $350.00 to $420.00 and gave the company an “overweight” rating in a research note on Thursday. HSBC set a $436.00 price target on AppLovin and gave the stock a “buy” rating in a research note on Wednesday, April 23rd. Finally, Oppenheimer reissued an “outperform” rating and set a $500.00 price objective (down previously from $560.00) on shares of AppLovin in a research report on Thursday. One research analyst has rated the stock with a sell rating, three have assigned a hold rating, seventeen have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $433.85.

AppLovin Stock Performance

Shares of NASDAQ:APP opened at $328.79 on Thursday. The company has a current ratio of 2.41, a quick ratio of 2.41 and a debt-to-equity ratio of 3.70. The company has a 50-day moving average price of $275.55 and a 200-day moving average price of $310.54. The company has a market cap of $111.77 billion, a price-to-earnings ratio of 72.42, a price-to-earnings-growth ratio of 3.02 and a beta of 2.39. AppLovin has a 12 month low of $60.67 and a 12 month high of $525.15.

AppLovin (NASDAQ:APP) last issued its quarterly earnings data on Wednesday, May 7th. The company reported $1.67 earnings per share for the quarter, topping analysts’ consensus estimates of $1.45 by $0.22. The firm had revenue of $1.48 billion for the quarter, compared to analyst estimates of $1.38 billion. AppLovin had a return on equity of 188.55% and a net margin of 33.54%. The business’s quarterly revenue was up 40.3% compared to the same quarter last year. During the same period last year, the company earned $0.67 EPS. As a group, equities analysts anticipate that AppLovin will post 6.87 EPS for the current year.

Insider Buying and Selling

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

Hedge Funds Weigh In On AppLovin

Several large investors have recently modified their holdings of APP. Fuller & Thaler Asset Management Inc. purchased a new stake in shares of AppLovin in the fourth quarter valued at $25,000. GHP Investment Advisors Inc. bought a new position in AppLovin during the 4th quarter valued at about $25,000. Riverview Trust Co raised its position in AppLovin by 1,640.0% in the 4th quarter. Riverview Trust Co now owns 87 shares of the company’s stock worth $28,000 after purchasing an additional 82 shares during the period. Tucker Asset Management LLC bought a new stake in AppLovin in the fourth quarter worth about $28,000. Finally, Hemington Wealth Management boosted its position in shares of AppLovin by 78.4% during the fourth quarter. Hemington Wealth Management now owns 91 shares of the company’s stock valued at $29,000 after buying an additional 40 shares during the period. 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.