AppLovin (NASDAQ:APP) Coverage Initiated by Analysts at Jefferies Financial Group

Stock analysts at Jefferies Financial Group started coverage on shares of AppLovin (NASDAQ:APP) in a research note issued to investors on Thursday, Marketbeat.com reports. The firm set a “buy” rating and a $93.00 price target on the stock. Jefferies Financial Group’s target price suggests a potential upside of 33.35% from the stock’s previous close.

A number of other equities research analysts have also issued reports on the stock. Wedbush upped their target price on shares of AppLovin from $67.00 to $87.00 and gave the company an “outperform” rating in a research note on Thursday, April 11th. Stifel Nicolaus increased their target price on AppLovin from $65.00 to $85.00 and gave the stock a “buy” rating in a report on Wednesday. TheStreet raised AppLovin from a “d+” rating to a “c-” rating in a research report on Friday, March 8th. The Goldman Sachs Group lifted their price objective on shares of AppLovin from $59.00 to $73.00 and gave the stock a “buy” rating in a report on Thursday, February 15th. Finally, Daiwa Capital Markets assumed coverage on shares of AppLovin in a report on Monday, April 15th. They set a “neutral” rating and a $80.00 target price on the stock. One analyst has rated the stock with a sell rating, four have issued a hold rating and twelve have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $63.60.

AppLovin Stock Performance

AppLovin stock opened at $69.74 on Thursday. The company has a debt-to-equity ratio of 2.31, a current ratio of 1.71 and a quick ratio of 1.71. AppLovin has a 12 month low of $15.70 and a 12 month high of $79.55. The company has a market cap of $23.85 billion, a price-to-earnings ratio of 69.74, a price-to-earnings-growth ratio of 1.42 and a beta of 1.85. The stock’s 50-day moving average is $67.66 and its 200-day moving average is $50.56.

AppLovin (NASDAQ:APP) last announced its quarterly earnings results on Wednesday, February 14th. The company reported $0.49 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.35 by $0.14. The firm had revenue of $953.26 million during the quarter, compared to the consensus estimate of $928.66 million. AppLovin had a return on equity of 24.69% and a net margin of 10.84%. The firm’s quarterly revenue was up 35.7% compared to the same quarter last year. During the same period in the prior year, the firm earned ($0.21) EPS. Equities analysts anticipate that AppLovin will post 2.49 earnings per share for the current year.

Insider Buying and Selling

In related news, insider Victoria Valenzuela sold 2,890 shares of the firm’s stock in a transaction that occurred on Thursday, February 22nd. The shares were sold at an average price of $57.76, for a total transaction of $166,926.40. Following the completion of the sale, the insider now directly owns 546,560 shares in the company, valued at $31,569,305.60. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In other news, insider Victoria Valenzuela sold 2,890 shares of the firm’s stock in a transaction dated Thursday, February 22nd. The stock was sold at an average price of $57.76, for a total transaction of $166,926.40. Following the completion of the sale, the insider now directly owns 546,560 shares of the company’s stock, valued at approximately $31,569,305.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Matthew Stumpf sold 2,775 shares of the business’s stock in a transaction that occurred on Thursday, March 14th. The shares were sold at an average price of $63.30, for a total value of $175,657.50. Following the completion of the sale, the chief financial officer now directly owns 362,264 shares of the company’s stock, valued at approximately $22,931,311.20. The disclosure for this sale can be found here. In the last 90 days, insiders sold 61,215 shares of company stock valued at $4,416,815. Company insiders own 12.43% of the company’s stock.

Institutional Investors Weigh In On AppLovin

Several hedge funds and other institutional investors have recently modified their holdings of the stock. FinTrust Capital Advisors LLC acquired a new stake in AppLovin during the fourth quarter worth about $32,000. BluePath Capital Management LLC acquired a new stake in AppLovin during the third quarter valued at approximately $33,000. Castleview Partners LLC bought a new stake in shares of AppLovin in the 3rd quarter valued at approximately $38,000. Atlas Capital Advisors LLC bought a new position in AppLovin in the 1st quarter valued at $38,000. Finally, Cullen Frost Bankers Inc. acquired a new position in AppLovin in the third quarter worth $44,000. Institutional investors and hedge funds 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.