AppLovin (NASDAQ:APP) Given New $425.00 Price Target at Jefferies Financial Group

AppLovin (NASDAQ:APP) had its target price boosted by equities researchers at Jefferies Financial Group from $400.00 to $425.00 in a research report issued on Wednesday,Benzinga reports. The firm currently has a “buy” rating on the stock. Jefferies Financial Group’s price target would indicate a potential upside of 28.96% from the stock’s previous close.

Other research analysts also recently issued reports about the company. Daiwa America upgraded AppLovin from a “hold” rating to a “strong-buy” rating in a report on Friday, November 8th. BTIG Research boosted their target price on shares of AppLovin from $202.00 to $291.00 and gave the stock a “buy” rating in a report on Thursday, November 7th. Oppenheimer reissued an “outperform” rating and set a $480.00 target price on shares of AppLovin in a research report on Tuesday, December 10th. Macquarie boosted their target price on AppLovin from $270.00 to $450.00 and gave the stock an “outperform” rating in a research note on Friday, December 6th. Finally, Wells Fargo & Company raised their price target on AppLovin from $250.00 to $360.00 and gave the stock an “overweight” rating in a report on Wednesday, November 20th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, AppLovin has an average rating of “Moderate Buy” and a consensus target price of $312.18.

AppLovin Trading Down 0.1 %

APP traded down $0.46 during trading on Wednesday, reaching $329.55. The company had a trading volume of 2,985,904 shares, compared to its average volume of 4,533,070. The business has a 50 day simple moving average of $308.96 and a 200-day simple moving average of $175.97. The stock has a market cap of $110.59 billion, a P/E ratio of 99.86, a PEG ratio of 4.17 and a beta of 2.29. The company has a quick ratio of 2.41, a current ratio of 2.41 and a debt-to-equity ratio of 3.70. AppLovin has a 52 week low of $38.60 and a 52 week high of $417.64.

AppLovin (NASDAQ:APP) last issued its quarterly earnings results on Wednesday, November 6th. The company reported $1.25 earnings per share for the quarter, topping the consensus estimate of $0.92 by $0.33. AppLovin had a return on equity of 122.24% and a net margin of 26.85%. The firm had revenue of $1.20 billion for the quarter, compared to the consensus estimate of $1.13 billion. During the same period in the prior year, the business posted $0.30 earnings per share. The company’s revenue for the quarter was up 38.6% on a year-over-year basis. On average, equities analysts anticipate that AppLovin will post 4.06 EPS for the current fiscal year.

Insider Activity

In other news, CTO Vasily Shikin sold 593,588 shares of the company’s stock in a transaction dated Thursday, November 21st. The stock was sold at an average price of $319.37, for a total transaction of $189,574,199.56. Following the completion of the transaction, the chief technology officer now directly owns 3,919,024 shares of the company’s stock, valued at approximately $1,251,618,694.88. This represents a 13.15 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Herald Y. Chen sold 400 shares of the firm’s stock in a transaction dated Monday, December 9th. The stock was sold at an average price of $366.16, for a total value of $146,464.00. Following the sale, the chief financial officer now directly owns 207,649 shares in the company, valued at $76,032,757.84. This trade represents a 0.19 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 888,867 shares of company stock valued at $284,773,062. 14.69% of the stock is currently owned by corporate insiders.

Institutional Trading of AppLovin

Large investors have recently made changes to their positions in the company. TD Asset Management Inc increased its position in AppLovin by 6.1% in the 2nd quarter. TD Asset Management Inc now owns 13,735 shares of the company’s stock valued at $1,143,000 after acquiring an additional 793 shares during the period. National Bank of Canada FI lifted its holdings in shares of AppLovin by 77.2% during the second quarter. National Bank of Canada FI now owns 964 shares of the company’s stock worth $82,000 after purchasing an additional 420 shares during the period. Private Advisor Group LLC increased its stake in AppLovin by 98.6% in the 2nd quarter. Private Advisor Group LLC now owns 7,144 shares of the company’s stock valued at $595,000 after buying an additional 3,547 shares during the period. Acadian Asset Management LLC raised its position in AppLovin by 21.1% during the 2nd quarter. Acadian Asset Management LLC now owns 19,781 shares of the company’s stock worth $1,642,000 after buying an additional 3,442 shares during the last quarter. Finally, Quest Partners LLC acquired a new stake in shares of AppLovin in the 2nd quarter worth $33,000. 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.