AppLovin Corporation (NASDAQ:APP) Receives Consensus Recommendation of “Moderate Buy” from Analysts

Shares of AppLovin Corporation (NASDAQ:APP) have been given a consensus rating of “Moderate Buy” by the twenty-four analysts that are currently covering the stock, MarketBeat.com reports. Eight equities research analysts have rated the stock with a hold rating, thirteen have given a buy rating and three have assigned a strong buy rating to the company. The average 1 year price target among brokers that have issued ratings on the stock in the last year is $529.3913.

Several brokerages recently commented on APP. Morgan Stanley dropped their price objective on shares of AppLovin from $650.00 to $450.00 and set an “overweight” rating for the company in a research note on Monday. Piper Sandler decreased their target price on shares of AppLovin from $385.00 to $325.00 and set a “neutral” rating on the stock in a research note on Friday, August 21st. The Goldman Sachs Group lowered their price target on shares of AppLovin from $585.00 to $465.00 and set a “neutral” rating for the company in a report on Thursday, August 6th. Evercore reiterated an “outperform” rating and issued a $510.00 price target on shares of AppLovin in a research note on Tuesday, September 1st. Finally, Royal Bank Of Canada cut their price objective on AppLovin from $700.00 to $575.00 and set an “outperform” rating on the stock in a report on Thursday, August 6th.

AppLovin Stock Down 0.8%

Shares of NASDAQ APP opened at $331.46 on Friday. The company has a market cap of $110.92 billion, a price-to-earnings ratio of 25.48, a PEG ratio of 0.70 and a beta of 2.49. The company has a current ratio of 4.30, a quick ratio of 4.30 and a debt-to-equity ratio of 1.11. AppLovin has a 12 month low of $297.50 and a 12 month high of $745.61. The stock has a 50-day moving average price of $365.33 and a two-hundred day moving average price of $436.64.

AppLovin (NASDAQ:APP) last posted its quarterly earnings results on Wednesday, August 5th. The company reported $3.76 earnings per share for the quarter, meeting analysts’ consensus estimates of $3.76. The company had revenue of $1.92 billion for the quarter, compared to the consensus estimate of $1.94 billion. AppLovin had a net margin of 64.58% and a return on equity of 193.10%. The firm’s quarterly revenue was up 52.8% compared to the same quarter last year. During the same period last year, the company posted $2.39 EPS. As a group, analysts forecast that AppLovin will post 15.76 earnings per share for the current fiscal year.

Insider Activity at AppLovin

In other news, Director G Jr sold 3,076 shares of AppLovin stock in a transaction dated Monday, July 6th. The stock was sold at an average price of $521.29, for a total transaction of $1,603,488.04. Following the sale, the director directly owned 120,444 shares of the company’s stock, valued at approximately $62,786,252.76. This trade represents a 2.49% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders own 12.81% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the business. SkyView Investment Advisors LLC acquired a new stake in AppLovin during the 2nd quarter worth approximately $515,000. Talon Private Wealth LLC increased its position in AppLovin by 184.3% in the 2nd quarter. Talon Private Wealth LLC now owns 3,915 shares of the company’s stock valued at $2,017,000 after acquiring an additional 2,538 shares during the period. Bouchey Financial Group Ltd. acquired a new position in AppLovin in the 2nd quarter valued at approximately $204,000. The Manufacturers Life Insurance Company increased its position in AppLovin by 409.6% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 776,097 shares of the company’s stock valued at $399,868,000 after acquiring an additional 623,815 shares during the period. Finally, Sequoia Financial Advisors LLC raised its stake in shares of AppLovin by 5.4% during the second quarter. Sequoia Financial Advisors LLC now owns 9,837 shares of the company’s stock valued at $5,068,000 after acquiring an additional 508 shares during the last quarter. Institutional investors own 41.85% of the company’s stock.

About AppLovin

AppLovin Corporation (NASDAQ: APP) is a technology company that provides software and services designed to help mobile application developers grow their businesses. Its platform supports user acquisition, advertising, monetization, measurement and other functions that enable developers to attract users and generate revenue from their applications.

AppLovin’s offerings include AXON, an artificial-intelligence-powered software engine used to optimize advertising and user-acquisition campaigns; MAX, a platform for managing in-app advertising and mediation; and AppDiscovery, which helps developers promote their applications.