Macquarie Issues Positive Forecast for AppLovin (NASDAQ:APP) Stock Price

AppLovin (NASDAQ:APP) had its price target increased by equities research analysts at Macquarie from $150.00 to $270.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The firm presently has an “outperform” rating on the stock. Macquarie’s price target suggests a potential upside of 10.36% from the company’s previous close.

A number of other equities analysts have also weighed in on the stock. The Goldman Sachs Group lowered shares of AppLovin from a “buy” rating to a “neutral” rating and upped their price target for the stock from $103.00 to $150.00 in a research report on Monday, October 14th. Wells Fargo & Company assumed coverage on AppLovin in a report on Monday, October 28th. They issued an “overweight” rating and a $200.00 price target on the stock. JPMorgan Chase & Co. increased their price objective on shares of AppLovin from $160.00 to $200.00 and gave the company a “neutral” rating in a report on Thursday. Loop Capital began coverage on shares of AppLovin in a report on Tuesday, October 22nd. They issued a “buy” rating and a $181.00 target price on the stock. Finally, Citigroup raised their target price on shares of AppLovin from $155.00 to $185.00 and gave the company a “buy” rating in a research note on Tuesday, October 22nd. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and twelve have issued a buy rating to the company. According to data from MarketBeat.com, AppLovin presently has a consensus rating of “Moderate Buy” and an average price target of $162.01.

AppLovin Trading Up 45.2 %

Shares of AppLovin stock traded up $76.11 during trading on Thursday, reaching $244.66. 14,946,233 shares of the stock were exchanged, compared to its average volume of 4,194,193. The company has a quick ratio of 2.28, a current ratio of 2.28 and a debt-to-equity ratio of 4.27. AppLovin has a 1 year low of $35.79 and a 1 year high of $257.43. The firm has a market cap of $81.78 billion, a price-to-earnings ratio of 103.71, a price-to-earnings-growth ratio of 2.36 and a beta of 1.86. The stock’s fifty day moving average is $132.23 and its 200 day moving average is $98.51.

AppLovin (NASDAQ:APP) last announced its quarterly earnings data on Wednesday, August 7th. The company reported $0.89 EPS for the quarter, beating the consensus estimate of $0.77 by $0.12. The business had revenue of $1.08 billion during the quarter, compared to analyst estimates of $1.08 billion. AppLovin had a return on equity of 84.16% and a net margin of 20.89%. The company’s revenue for the quarter was up 44.0% on a year-over-year basis. During the same quarter last year, the firm posted $0.22 earnings per share. As a group, equities research analysts expect that AppLovin will post 3.47 earnings per share for the current fiscal year.

Insider Transactions at AppLovin

In related news, Director Dawson Alyssa Harvey sold 1,500 shares of AppLovin stock in a transaction dated Tuesday, September 10th. The stock was sold at an average price of $87.90, for a total value of $131,850.00. Following the sale, the director now directly owns 10,247 shares in the company, valued at approximately $900,711.30. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other news, Director Dawson Alyssa Harvey sold 1,500 shares of the firm’s stock in a transaction dated Tuesday, September 10th. The shares were sold at an average price of $87.90, for a total value of $131,850.00. Following the transaction, the director now directly owns 10,247 shares of the company’s stock, valued at approximately $900,711.30. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Director Eduardo Vivas sold 229,200 shares of the stock in a transaction dated Friday, August 16th. The shares were sold at an average price of $86.35, for a total transaction of $19,791,420.00. Following the completion of the sale, the director now owns 7,412,475 shares of the company’s stock, valued at approximately $640,067,216.25. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 610,094 shares of company stock valued at $51,022,478 in the last ninety days. 14.69% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On AppLovin

Several hedge funds and other institutional investors have recently bought and sold shares of APP. Capital Performance Advisors LLP purchased a new stake in shares of AppLovin during the 3rd quarter valued at approximately $25,000. DT Investment Partners LLC acquired a new position in shares of AppLovin in the 3rd quarter worth approximately $27,000. Raleigh Capital Management Inc. purchased a new position in shares of AppLovin during the 3rd quarter worth approximately $29,000. Quest Partners LLC purchased a new stake in AppLovin in the second quarter valued at approximately $33,000. Finally, Oliver Lagore Vanvalin Investment Group acquired a new position in AppLovin during the second quarter worth $34,000. 41.85% of the stock is currently 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.