AppLovin (NASDAQ:APP) Given “Outperform” Rating at Oppenheimer

Oppenheimer restated their outperform rating on shares of AppLovin (NASDAQ:APP) in a research report report published on Thursday,Benzinga reports. Oppenheimer currently has a $500.00 price target on the stock, down from their prior price target of $560.00.

A number of other equities research analysts have also issued reports on APP. Loop Capital reiterated a “buy” rating and issued a $650.00 price target on shares of AppLovin in a research note on Friday, March 28th. Benchmark boosted their price target on AppLovin from $375.00 to $525.00 and gave the stock a “buy” rating in a report on Thursday, February 13th. Needham & Company LLC reaffirmed a “hold” rating on shares of AppLovin in a report on Monday, April 21st. UBS Group lowered their target price on shares of AppLovin from $630.00 to $450.00 and set a “buy” rating on the stock in a report on Friday, April 11th. Finally, The Goldman Sachs Group cut their target price on shares of AppLovin from $500.00 to $335.00 and set a “neutral” rating for the company in a research note on Monday, April 14th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating, seventeen have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $433.85.

AppLovin Stock Performance

Shares of APP opened at $328.79 on Thursday. 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 stock has a market cap of $111.77 billion, a price-to-earnings ratio of 72.42, a PEG ratio of 3.02 and a beta of 2.39. The business has a 50-day simple moving average of $275.55 and a two-hundred day simple moving average of $311.59.

AppLovin (NASDAQ:APP) last released its earnings results on Wednesday, May 7th. The company reported $1.67 EPS for the quarter, topping analysts’ consensus estimates of $1.45 by $0.22. The company had revenue of $1.48 billion for the quarter, compared to analysts’ expectations of $1.38 billion. AppLovin had a net margin of 33.54% and a return on equity of 188.55%. The firm’s revenue was up 40.3% compared to the same quarter last year. During the same quarter last year, the business earned $0.67 EPS. On average, analysts expect that AppLovin will post 6.87 EPS for the current year.

Insider Transactions at AppLovin

In other AppLovin 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 value of $4,228,875.00. Following the transaction, the chief technology officer now owns 88,389 shares of the company’s stock, valued at $21,359,201.85. This represents a 16.53 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Arash Adam Foroughi sold 45,000 shares of AppLovin stock in a transaction on Friday, February 21st. The stock was sold at an average price of $422.21, for a total value of $18,999,450.00. Following the sale, the chief executive officer now owns 2,914,492 shares of the company’s stock, valued at approximately $1,230,527,667.32. This trade represents a 1.52 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 306,900 shares of company stock worth $106,401,841. 14.69% of the stock is currently owned by insiders.

Hedge Funds Weigh In On AppLovin

A number of institutional investors have recently modified their holdings of the stock. Fuller & Thaler Asset Management Inc. bought a new stake in AppLovin during the 4th quarter valued at $25,000. GHP Investment Advisors Inc. purchased a new stake in AppLovin in the fourth quarter worth about $25,000. Riverview Trust Co grew its holdings in AppLovin by 1,640.0% during the 4th quarter. Riverview Trust Co now owns 87 shares of the company’s stock worth $28,000 after acquiring an additional 82 shares in the last quarter. Tucker Asset Management LLC purchased a new position in AppLovin during the 4th quarter valued at about $28,000. Finally, Hemington Wealth Management raised its holdings in shares of AppLovin by 78.4% in the 4th quarter. Hemington Wealth Management now owns 91 shares of the company’s stock valued at $29,000 after purchasing an additional 40 shares in the last quarter. 41.85% of the stock is owned by hedge funds and other institutional investors.

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.