AppLovin’s (APP) “Outperform” Rating Reiterated at Oppenheimer

Oppenheimer reaffirmed their outperform rating on shares of AppLovin (NASDAQ:APP) in a research note published on Tuesday,Benzinga reports. The firm currently has a $480.00 price objective on the stock.

Several other equities analysts have also recently issued reports on APP. Daiwa America upgraded shares of AppLovin from a “hold” rating to a “strong-buy” rating in a research report on Friday, November 8th. Citigroup increased their price objective on AppLovin from $335.00 to $460.00 and gave the company a “buy” rating in a report on Thursday, December 5th. BTIG Research lifted their target price on AppLovin from $202.00 to $291.00 and gave the stock a “buy” rating in a report on Thursday, November 7th. Piper Sandler assumed coverage on AppLovin in a research note on Wednesday, November 20th. They issued an “overweight” rating and a $400.00 price target for the company. Finally, Stifel Nicolaus raised their price objective on AppLovin from $250.00 to $435.00 and gave the stock a “buy” rating in a research report on Thursday, December 5th. One research analyst has rated the stock with a sell rating, four have issued a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, AppLovin currently has a consensus rating of “Moderate Buy” and a consensus target price of $292.79.

AppLovin Stock Down 3.5 %

Shares of APP opened at $326.21 on Tuesday. The company has a debt-to-equity ratio of 3.70, a quick ratio of 2.41 and a current ratio of 2.41. AppLovin has a 52 week low of $36.33 and a 52 week high of $417.64. The stock has a market capitalization of $109.47 billion, a price-to-earnings ratio of 98.85, a PEG ratio of 4.95 and a beta of 2.27. The stock has a fifty day moving average of $242.30 and a 200-day moving average of $142.69.

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

Insider Buying and Selling

In related news, Director Craig Scott Billings sold 18,000 shares of the stock in a transaction on Thursday, November 21st. The stock was sold at an average price of $318.94, for a total value of $5,740,920.00. Following the transaction, the director now directly owns 2,987 shares in the company, valued at $952,673.78. This trade represents a 85.77 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CMO Katie Kihorany Jansen sold 59,876 shares of AppLovin stock in a transaction on Tuesday, November 12th. The shares were sold at an average price of $286.14, for a total transaction of $17,132,918.64. Following the completion of the sale, the chief marketing officer now directly owns 1,017,388 shares of the company’s stock, valued at approximately $291,115,402.32. The trade was a 5.56 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 872,896 shares of company stock valued at $279,773,021 over the last ninety days. 14.69% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the business. SG Americas Securities LLC raised its stake in shares of AppLovin by 101.7% in the second quarter. SG Americas Securities LLC now owns 8,268 shares of the company’s stock worth $688,000 after purchasing an additional 4,168 shares during the last quarter. Wedmont Private Capital purchased a new position in AppLovin during the 2nd quarter worth $200,000. Diversified Trust Co grew its stake in shares of AppLovin by 20.8% in the 2nd quarter. Diversified Trust Co now owns 4,059 shares of the company’s stock worth $338,000 after acquiring an additional 700 shares in the last quarter. Great Valley Advisor Group Inc. purchased a new stake in shares of AppLovin in the second quarter valued at about $231,000. Finally, Envestnet Portfolio Solutions Inc. bought a new position in shares of AppLovin during the second quarter valued at about $3,291,000. 41.85% of the stock is owned by institutional investors.

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.