Stifel Nicolaus Boosts AppLovin (NASDAQ:APP) Price Target to $250.00

AppLovin (NASDAQ:APP) had its price target hoisted by Stifel Nicolaus from $185.00 to $250.00 in a research note released on Thursday,Benzinga reports. The firm currently has a buy rating on the stock.

APP has been the topic of several other research reports. Citigroup boosted their price target on AppLovin from $155.00 to $185.00 and gave the company a “buy” rating in a research note on Tuesday, October 22nd. Wells Fargo & Company assumed coverage on shares of AppLovin in a report on Monday, October 28th. They issued an “overweight” rating and a $200.00 price target on the stock. UBS Group upgraded shares of AppLovin from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $100.00 to $145.00 in a research note on Tuesday, September 17th. Bank of America increased their price objective on shares of AppLovin from $100.00 to $120.00 and gave the stock a “buy” rating in a research note on Wednesday, September 11th. Finally, Macquarie increased their price target on AppLovin from $150.00 to $270.00 and gave the stock an “outperform” rating in a research report on Thursday. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and thirteen have issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $182.31.

AppLovin Trading Up 16.0 %

NASDAQ APP traded up $39.43 on Thursday, hitting $285.96. 11,767,422 shares of the stock were exchanged, compared to its average volume of 4,245,897. The stock has a fifty day moving average price of $135.33 and a two-hundred day moving average price of $99.54. The firm has a market capitalization of $95.58 billion, a P/E ratio of 112.00, a P/E/G ratio of 2.29 and a beta of 1.86. 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 has a 52-week low of $35.79 and a 52-week high of $286.19.

AppLovin (NASDAQ:APP) last posted its quarterly earnings data on Wednesday, August 7th. The company reported $0.89 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.77 by $0.12. The company had revenue of $1.08 billion during the quarter, compared to analysts’ expectations of $1.08 billion. AppLovin had a return on equity of 84.16% and a net margin of 20.89%. AppLovin’s revenue was up 44.0% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.22 EPS. Research analysts forecast that AppLovin will post 3.48 EPS for the current fiscal year.

Insider Transactions at AppLovin

In related news, Director Dawson Alyssa Harvey sold 1,500 shares of the business’s stock in a transaction dated Tuesday, September 10th. The stock was 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other AppLovin news, Director Dawson Alyssa Harvey sold 1,500 shares of the company’s stock in a transaction that occurred on Tuesday, September 10th. The stock was sold at an average price of $87.90, for a total value 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. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CMO Katie Kihorany Jansen sold 72,307 shares of the company’s stock in a transaction dated Monday, August 12th. The shares were sold at an average price of $75.68, for a total transaction of $5,472,193.76. Following the sale, the chief marketing officer now owns 1,164,396 shares in the company, valued at $88,121,489.28. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 610,094 shares of company stock valued at $51,022,478 over the last three months. Corporate insiders own 14.69% of the company’s stock.

Institutional Trading of AppLovin

Several institutional investors and hedge funds have recently bought and sold shares of APP. Janney Montgomery Scott LLC increased its position in AppLovin by 167.0% in the 1st quarter. Janney Montgomery Scott LLC now owns 16,146 shares of the company’s stock valued at $1,118,000 after acquiring an additional 10,099 shares during the period. Nordea Investment Management AB purchased a new position in AppLovin in the 1st quarter valued at about $623,000. ORG Partners LLC grew its position in shares of AppLovin by 212.0% in the first quarter. ORG Partners LLC now owns 624 shares of the company’s stock valued at $43,000 after purchasing an additional 424 shares during the period. Empowered Funds LLC purchased a new stake in shares of AppLovin during the 1st quarter worth about $1,235,000. Finally, SG Americas Securities LLC grew its stake in shares of AppLovin by 33.5% in the first quarter. SG Americas Securities LLC now owns 4,100 shares of the company’s stock valued at $284,000 after buying an additional 1,028 shares in the last quarter. 41.85% of the stock is currently owned by hedge funds and other institutional investors.

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.