Benchmark Initiates Coverage on AppLovin (NASDAQ:APP)

Analysts at Benchmark initiated coverage on shares of AppLovin (NASDAQ:APP) in a report released on Friday,Briefing.com Automated Import reports. The brokerage set a “buy” rating and a $375.00 price target on the stock. Benchmark’s price target would indicate a potential upside of 13.91% from the company’s previous close.

Other research analysts have also issued research reports about the company. 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. Needham & Company LLC restated a “hold” rating on shares of AppLovin in a research note on Thursday, November 7th. Daiwa Capital Markets upgraded shares of AppLovin from a “neutral” rating to an “outperform” rating and raised their target price for the company from $80.00 to $280.00 in a research note on Friday, November 8th. Bank of America boosted their target price on shares of AppLovin from $252.00 to $375.00 and gave the stock a “buy” rating in a research report on Monday, November 25th. Finally, Jefferies Financial Group raised their price target on AppLovin from $400.00 to $425.00 and gave the company a “buy” rating in a research report on Wednesday. Four investment analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $330.35.

AppLovin Trading Down 0.2 %

NASDAQ:APP opened at $329.20 on Friday. The stock has a market cap of $110.48 billion, a PE ratio of 99.76, a price-to-earnings-growth ratio of 4.17 and a beta of 2.29. AppLovin has a fifty-two week low of $38.60 and a fifty-two week high of $417.64. The company has a debt-to-equity ratio of 3.70, a current ratio of 2.41 and a quick ratio of 2.41. The stock’s 50-day moving average is $315.31 and its two-hundred day moving average is $178.09.

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

Insider Activity

In other AppLovin news, Director Dawson Alyssa Harvey sold 500 shares of the business’s 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 completion of the transaction, the director now directly owns 6,684 shares of the company’s stock, valued at approximately $2,715,508.68. The trade was a 6.96 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Victoria Valenzuela sold 17,925 shares of the stock in a transaction that occurred 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 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. Over the last 90 days, insiders sold 888,867 shares of company stock worth $284,773,062. Insiders own 14.69% of the company’s stock.

Hedge Funds Weigh In On AppLovin

Hedge funds have recently added to or reduced their stakes in the company. Fulton Bank N.A. raised its holdings in AppLovin by 12.1% during the 4th quarter. Fulton Bank N.A. now owns 8,429 shares of the company’s stock worth $2,730,000 after purchasing an additional 908 shares during the last quarter. Range Financial Group LLC bought a new position in AppLovin in the fourth quarter valued at approximately $2,237,000. Diversified Trust Co grew its holdings in AppLovin by 27.1% during the 4th quarter. Diversified Trust Co now owns 5,034 shares of the company’s stock worth $1,630,000 after acquiring an additional 1,072 shares during the period. Silverleafe Capital Partners LLC bought a new stake in shares of AppLovin during the 4th quarter valued at $963,000. Finally, CWA Asset Management Group LLC lifted its stake in shares of AppLovin by 26.6% in the 4th quarter. CWA Asset Management Group LLC now owns 16,768 shares of the company’s stock valued at $5,430,000 after purchasing an additional 3,520 shares during the period. Institutional investors own 41.85% of the company’s stock.

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.