AppLovin (NASDAQ:APP) Price Target Raised to $630.00

AppLovin (NASDAQ:APP) had its price target boosted by UBS Group from $440.00 to $630.00 in a research report sent to investors on Thursday,Benzinga reports. They currently have a buy rating on the stock.

Other equities research analysts have also issued research reports about the company. Wedbush reissued an “outperform” rating and set a $270.00 price target (up previously from $170.00) on shares of AppLovin in a research note on Thursday, November 7th. Wells Fargo & Company boosted their price target on AppLovin from $360.00 to $366.00 and gave the stock an “overweight” rating in a research note on Monday, January 13th. Oppenheimer reissued an “outperform” rating and set a $480.00 price target on shares of AppLovin in a research note on Tuesday, December 10th. The Goldman Sachs Group boosted their price target on AppLovin from $220.00 to $335.00 and gave the stock a “neutral” rating in a research note on Monday, January 27th. Finally, Stifel Nicolaus boosted their price target on AppLovin from $250.00 to $435.00 and gave the stock a “buy” rating in a research note on Thursday, December 5th. Four equities research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, AppLovin presently has an average rating of “Moderate Buy” and an average price target of $422.18.

AppLovin Stock Performance

NASDAQ APP opened at $510.13 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 business’s 50 day moving average is $351.33 and its two-hundred day moving average is $230.42. AppLovin has a 12-month low of $52.75 and a 12-month high of $525.15. The stock has a market capitalization of $171.19 billion, a price-to-earnings ratio of 154.59, a PEG ratio of 3.10 and a beta of 2.30.

AppLovin (NASDAQ:APP) last released its earnings results on Wednesday, February 12th. The company reported $1.73 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.12 by $0.61. AppLovin had a return on equity of 122.24% and a net margin of 26.85%. Research analysts expect that AppLovin will post 4.09 EPS for the current year.

Insider Buying and Selling at AppLovin

In other AppLovin news, insider Victoria Valenzuela sold 17,925 shares of the firm’s stock in a transaction dated Tuesday, December 3rd. The stock was sold at an average price of $354.15, for a total value of $6,348,138.75. Following the transaction, the insider now directly owns 405,676 shares of the company’s stock, valued at $143,670,155.40. This trade represents a 4.23 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Craig Scott Billings sold 18,000 shares of the firm’s stock in a transaction dated Thursday, November 21st. The shares were sold at an average price of $318.94, for a total value of $5,740,920.00. Following the completion of the transaction, the director now directly owns 2,987 shares in the company, valued at $952,673.78. This trade represents a 85.77 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 828,991 shares of company stock valued at $267,640,144 over the last three months. 14.69% of the stock is owned by company insiders.

Institutional Trading of AppLovin

Hedge funds and other institutional investors have recently modified their holdings of the business. FMR LLC grew its stake in AppLovin by 75.5% in the fourth quarter. FMR LLC now owns 13,851,122 shares of the company’s stock worth $4,485,409,000 after purchasing an additional 5,957,885 shares in the last quarter. WCM Investment Management LLC grew its stake in AppLovin by 10.5% in the third quarter. WCM Investment Management LLC now owns 10,820,409 shares of the company’s stock worth $1,382,307,000 after purchasing an additional 1,029,009 shares in the last quarter. SVB Wealth LLC acquired a new position in AppLovin in the fourth quarter worth about $1,781,922,000. State Street Corp grew its stake in AppLovin by 8.6% in the third quarter. State Street Corp now owns 5,388,023 shares of the company’s stock worth $703,406,000 after purchasing an additional 428,419 shares in the last quarter. Finally, Geode Capital Management LLC grew its stake in AppLovin by 14.5% in the fourth quarter. Geode Capital Management LLC now owns 4,519,445 shares of the company’s stock worth $1,462,144,000 after purchasing an additional 573,310 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.