AppLovin (NASDAQ:APP) Receives “Buy” Rating from Benchmark

Benchmark restated their buy rating on shares of AppLovin (NASDAQ:APP) in a research report sent to investors on Thursday,Benzinga reports. They currently have a $525.00 price target on the stock.

APP has been the subject of a number of other research reports. FBN Securities initiated coverage on shares of AppLovin in a report on Friday, March 28th. They set an “outperform” rating and a $385.00 price objective for the company. Needham & Company LLC reaffirmed a “hold” rating on shares of AppLovin in a research note on Monday, April 21st. Piper Sandler lowered their price objective on shares of AppLovin from $575.00 to $425.00 and set an “overweight” rating for the company in a research report on Thursday, April 10th. The Goldman Sachs Group cut their price objective on shares of AppLovin from $500.00 to $335.00 and set a “neutral” rating on the stock in a research report on Monday, April 14th. Finally, Bank of America boosted their price target on AppLovin from $375.00 to $580.00 and gave the company a “buy” rating in a report on Thursday, February 13th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, seventeen have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $433.85.

AppLovin Stock Performance

AppLovin stock opened at $328.79 on Thursday. The company has a market cap of $111.77 billion, a PE ratio of 72.42, a PEG ratio of 3.02 and a beta of 2.39. The company has a current ratio of 2.41, a quick ratio of 2.41 and a debt-to-equity ratio of 3.70. AppLovin has a 1 year low of $60.67 and a 1 year high of $525.15. The company’s 50-day moving average is $275.55 and its two-hundred day moving average is $311.59.

AppLovin (NASDAQ:APP) last posted its quarterly earnings results on Wednesday, May 7th. The company reported $1.67 earnings per share for the quarter, beating analysts’ consensus estimates of $1.45 by $0.22. The company had revenue of $1.48 billion for the quarter, compared to the consensus estimate of $1.38 billion. AppLovin had a return on equity of 188.55% and a net margin of 33.54%. The firm’s quarterly revenue was up 40.3% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.67 EPS. Equities analysts anticipate that AppLovin will post 6.87 earnings per share for the current year.

Insider Buying and Selling at AppLovin

In related news, Director Herald Y. Chen sold 200,000 shares of the business’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 transaction, 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Arash Adam Foroughi sold 44,400 shares of the stock in a transaction dated Monday, February 24th. The stock was sold at an average price of $410.89, for a total value of $18,243,516.00. Following the sale, the chief executive officer now owns 2,869,492 shares of the company’s stock, valued at approximately $1,179,045,567.88. The trade was a 1.52 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 306,900 shares of company stock worth $106,401,841 over the last quarter. Corporate insiders own 14.69% of the company’s stock.

Institutional Investors Weigh In On AppLovin

Several large investors have recently added to or reduced their stakes in the business. Deutsche Bank AG increased its stake in shares of AppLovin by 32.3% in the 1st quarter. Deutsche Bank AG now owns 602,787 shares of the company’s stock valued at $159,720,000 after acquiring an additional 147,291 shares in the last quarter. Chicago Partners Investment Group LLC bought a new stake in AppLovin in the 1st quarter worth about $315,000. Charles Schwab Investment Management Inc. increased its position in shares of AppLovin by 5.6% during the first quarter. Charles Schwab Investment Management Inc. now owns 1,018,815 shares of the company’s stock valued at $269,955,000 after acquiring an additional 53,637 shares during the last quarter. ASR Vermogensbeheer N.V. purchased a new position in shares of AppLovin in the 1st quarter worth about $4,611,000. Finally, Primecap Management Co. CA increased its stake in shares of AppLovin by 13.5% during the 1st quarter. Primecap Management Co. CA now owns 395,100 shares of the company’s stock worth $104,690,000 after purchasing an additional 47,000 shares during the last quarter. Institutional investors and hedge funds 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.