AppLovin (NASDAQ:APP) Hits New 1-Year High – What’s Next?

Shares of AppLovin Co. (NASDAQ:APP) reached a new 52-week high on Monday . The company traded as high as $166.23 and last traded at $165.90, with a volume of 1145119 shares trading hands. The stock had previously closed at $161.63.

Wall Street Analyst Weigh In

A number of brokerages recently commented on APP. Benchmark lifted their price objective on AppLovin from $48.00 to $66.00 and gave the stock a “sell” rating in a research note on Friday, August 23rd. JPMorgan Chase & Co. boosted their target price on AppLovin from $57.00 to $160.00 and gave the stock a “neutral” rating in a research report on Tuesday, October 22nd. Wells Fargo & Company initiated coverage on AppLovin in a research note on Monday. They issued an “overweight” rating and a $200.00 price target for the company. Macquarie reissued an “outperform” rating and set a $150.00 price objective (up previously from $115.00) on shares of AppLovin in a research note on Wednesday, September 25th. Finally, Oppenheimer upped their target price on shares of AppLovin from $105.00 to $180.00 and gave the company an “outperform” rating in a research note on Wednesday, October 23rd. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and twelve have issued a buy rating to the stock. According to MarketBeat.com, AppLovin currently has an average rating of “Moderate Buy” and an average target price of $136.78.

AppLovin Trading Down 0.3 %

The stock has a market cap of $57.37 billion, a price-to-earnings ratio of 73.15, a P/E/G ratio of 2.07 and a beta of 1.92. The business has a 50-day simple moving average of $123.04 and a two-hundred day simple moving average of $94.65. The company has a debt-to-equity ratio of 4.27, a quick ratio of 2.28 and a current ratio of 2.28.

AppLovin (NASDAQ:APP) last issued its quarterly earnings results on Wednesday, August 7th. The company reported $0.89 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.77 by $0.12. The firm had revenue of $1.08 billion for the quarter, compared to analyst estimates of $1.08 billion. AppLovin had a net margin of 20.89% and a return on equity of 84.16%. The company’s revenue was up 44.0% compared to the same quarter last year. During the same period in the previous year, the business earned $0.22 EPS. As a group, research analysts forecast that AppLovin Co. will post 3.46 EPS for the current year.

Insider Transactions at AppLovin

In other AppLovin news, Director Dawson Alyssa Harvey sold 1,500 shares of the company’s stock in a transaction on Tuesday, September 10th. The shares were sold at an average price of $87.90, for a total transaction of $131,850.00. Following the sale, the director now directly owns 10,247 shares of the company’s stock, valued at approximately $900,711.30. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other AppLovin news, insider Victoria Valenzuela sold 14,166 shares of the company’s stock in a transaction on Thursday, August 22nd. The shares were sold at an average price of $89.98, for a total value of $1,274,656.68. Following the transaction, the insider now directly owns 352,616 shares in the company, valued at $31,728,387.68. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Dawson Alyssa Harvey sold 1,500 shares of the stock in a transaction dated Tuesday, September 10th. The shares were sold at an average price of $87.90, for a total transaction of $131,850.00. Following the completion of the transaction, the director now directly owns 10,247 shares in the company, valued at $900,711.30. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 610,094 shares of company stock worth $51,022,478 in the last 90 days. Corporate insiders own 14.69% of the company’s stock.

Institutional Trading of AppLovin

Several hedge funds have recently added to or reduced their stakes in the company. DT Investment Partners LLC bought a new position in AppLovin during the third quarter worth about $27,000. Raleigh Capital Management Inc. bought a new stake in shares of AppLovin in the third quarter valued at approximately $29,000. HM Payson & Co. grew its position in AppLovin by 50.0% during the third quarter. HM Payson & Co. now owns 300 shares of the company’s stock worth $39,000 after buying an additional 100 shares in the last quarter. ORG Wealth Partners LLC bought a new position in AppLovin during the 3rd quarter worth $42,000. Finally, Quest Partners LLC acquired a new position in AppLovin in the 2nd quarter valued at $33,000. 41.85% of the stock is owned by institutional investors and hedge funds.

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.