AppLovin (NASDAQ:APP) Price Target Raised to $325.00 at JPMorgan Chase & Co.

AppLovin (NASDAQ:APP) had its price target lifted by JPMorgan Chase & Co. from $200.00 to $325.00 in a report published on Friday,Benzinga reports. JPMorgan Chase & Co. currently has a neutral rating on the stock.

Other analysts have also issued research reports about the company. Citigroup lifted their price objective on AppLovin from $335.00 to $460.00 and gave the stock a “buy” rating in a report on Thursday, December 5th. BTIG Research increased their price objective on shares of AppLovin from $202.00 to $291.00 and gave the company a “buy” rating in a research note on Thursday, November 7th. Stifel Nicolaus lifted their target price on shares of AppLovin from $250.00 to $435.00 and gave the company a “buy” rating in a research report on Thursday, December 5th. Needham & Company LLC reaffirmed a “hold” rating on shares of AppLovin in a report on Thursday, November 7th. Finally, Oppenheimer reissued an “outperform” rating and issued a $480.00 target price on shares of AppLovin in a report on Tuesday, December 10th. Four investment analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $337.71.

AppLovin Stock Performance

APP opened at $318.48 on Friday. AppLovin has a 12-month low of $39.43 and a 12-month high of $417.64. The firm has a market capitalization of $106.88 billion, a P/E ratio of 96.51, a price-to-earnings-growth ratio of 4.17 and a beta of 2.29. The stock’s 50 day moving average price is $318.41 and its two-hundred day moving average price is $179.76. 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 (NASDAQ:APP) last issued its quarterly earnings results on Wednesday, November 6th. The company reported $1.25 earnings per share for the quarter, beating analysts’ consensus estimates of $0.92 by $0.33. AppLovin had a net margin of 26.85% and a return on equity of 122.24%. The firm had revenue of $1.20 billion during the quarter, compared to the consensus estimate of $1.13 billion. During the same period in the prior year, the firm earned $0.30 EPS. The business’s revenue was up 38.6% on a year-over-year basis. On average, equities analysts forecast that AppLovin will post 4.06 earnings per share for the current year.

Insider Transactions at AppLovin

In other AppLovin news, CEO Arash Adam Foroughi sold 1,676 shares of the stock in a transaction dated Tuesday, December 10th. The stock was sold at an average price of $356.39, for a total value of $597,309.64. Following the completion of the sale, the chief executive officer now directly owns 3,058,635 shares in the company, valued at $1,090,066,927.65. This represents a 0.05 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Dawson Alyssa Harvey sold 500 shares of AppLovin stock in a transaction dated Friday, December 6th. The shares were sold at an average price of $406.27, for a total value of $203,135.00. Following the transaction, the director now owns 6,684 shares in the company, valued at $2,715,508.68. This trade represents a 6.96 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 888,867 shares of company stock worth $284,773,062. 14.69% of the stock is currently owned by company insiders.

Institutional Trading of AppLovin

Several hedge funds have recently bought and sold shares of the stock. Capital Performance Advisors LLP acquired a new position in shares of AppLovin in the third quarter valued at approximately $25,000. DT Investment Partners LLC acquired a new position in AppLovin in the 3rd quarter worth $27,000. Meeder Asset Management Inc. bought a new position in AppLovin during the 3rd quarter worth about $27,000. Raleigh Capital Management Inc. acquired a new stake in shares of AppLovin in the 3rd quarter valued at about $29,000. Finally, Quest Partners LLC bought a new stake in shares of AppLovin in the second quarter valued at about $33,000. 41.85% of the stock is currently 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.