AppLovin (NASDAQ:APP) Given New $440.00 Price Target at UBS Group

AppLovin (NASDAQ:APP) had its price target boosted by research analysts at UBS Group from $315.00 to $440.00 in a report issued on Wednesday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. UBS Group’s price target would suggest a potential upside of 23.39% from the stock’s current price.

Several other equities analysts have also recently weighed in on APP. Piper Sandler began coverage on shares of AppLovin in a research note on Wednesday, November 20th. They set an “overweight” rating and a $400.00 target price for the company. Bank of America lifted their price objective on shares of AppLovin from $252.00 to $375.00 and gave the stock a “buy” rating in a research note on Monday, November 25th. JPMorgan Chase & Co. lifted their price objective on shares of AppLovin from $200.00 to $325.00 and gave the stock a “neutral” rating in a research note on Friday, January 10th. BTIG Research lifted their price target on shares of AppLovin from $202.00 to $291.00 and gave the stock a “buy” rating in a research note on Thursday, November 7th. Finally, Loop Capital lifted their price target on shares of AppLovin from $385.00 to $450.00 and gave the stock a “buy” rating in a research note on Monday, December 16th. Four investment analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $355.41.

AppLovin Stock Up 5.4 %

Shares of NASDAQ:APP traded up $18.21 during trading on Wednesday, reaching $356.60. 379,737 shares of the stock traded hands, compared to its average volume of 3,904,127. The stock has a 50-day moving average of $332.85 and a two-hundred day moving average of $193.35. AppLovin has a 52-week low of $40.71 and a 52-week high of $417.64. The company has a debt-to-equity ratio of 3.70, a quick ratio of 2.41 and a current ratio of 2.41. The stock has a market cap of $119.67 billion, a P/E ratio of 107.11, a price-to-earnings-growth ratio of 2.80 and a beta of 2.29.

AppLovin (NASDAQ:APP) last issued its earnings results on Wednesday, November 6th. The company reported $1.25 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.92 by $0.33. The company had revenue of $1.20 billion for the quarter, compared to analysts’ expectations of $1.13 billion. AppLovin had a net margin of 26.85% and a return on equity of 122.24%. The firm’s quarterly revenue was up 38.6% on a year-over-year basis. During the same quarter last year, the company posted $0.30 earnings per share. As a group, sell-side analysts expect that AppLovin will post 4.06 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, CMO Katie Kihorany Jansen sold 59,876 shares of the company’s stock in a transaction on Tuesday, November 12th. The shares were sold at an average price of $286.14, for a total value of $17,132,918.64. Following the sale, the chief marketing officer now directly owns 1,017,388 shares of the company’s stock, valued at $291,115,402.32. This represents a 5.56 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Victoria Valenzuela sold 17,925 shares of the company’s stock in a transaction on Tuesday, December 3rd. The shares were sold at an average price of $354.15, for a total transaction of $6,348,138.75. Following the completion of the sale, the insider now directly owns 405,676 shares in the company, valued at $143,670,155.40. This trade represents a 4.23 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 888,867 shares of company stock worth $284,773,062 in the last 90 days. 14.69% of the stock is owned by corporate insiders.

Institutional Trading of AppLovin

Several large investors have recently made changes to their positions in APP. Drive Wealth Management LLC acquired a new position in shares of AppLovin in the 4th quarter valued at $256,000. Empirical Financial Services LLC d.b.a. Empirical Wealth Management acquired a new stake in shares of AppLovin in the fourth quarter valued at about $411,000. M3 Advisory Group LLC acquired a new stake in shares of AppLovin in the fourth quarter valued at about $215,000. SJS Investment Consulting Inc. raised its position in shares of AppLovin by 1,652.0% in the fourth quarter. SJS Investment Consulting Inc. now owns 438 shares of the company’s stock valued at $142,000 after buying an additional 413 shares during the last quarter. Finally, Linden Thomas Advisory Services LLC raised its position in shares of AppLovin by 7.2% in the fourth quarter. Linden Thomas Advisory Services LLC now owns 19,394 shares of the company’s stock valued at $6,280,000 after buying an additional 1,311 shares during the last quarter. 41.85% of the stock is 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.