AppLovin (NASDAQ:APP) Given New $325.00 Price Target at Wells Fargo & Company

AppLovin (NASDAQ:APP) had its price objective decreased by analysts at Wells Fargo & Company from $357.00 to $325.00 in a report issued on Wednesday,Benzinga reports. The firm currently has an “equal weight” rating on the stock. Wells Fargo & Company‘s target price would suggest a potential upside of 5.43% from the company’s previous close.

Other equities analysts have also issued reports about the company. KeyCorp set a $775.00 target price on AppLovin in a research note on Wednesday, June 10th. Royal Bank Of Canada cut their price objective on AppLovin from $700.00 to $575.00 and set an “outperform” rating for the company in a report on Thursday, August 6th. BTIG Research decreased their price objective on shares of AppLovin from $574.00 to $408.00 and set a “buy” rating on the stock in a research report on Wednesday, August 12th. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and issued a $660.00 target price on shares of AppLovin in a research note on Thursday, May 7th. Finally, JPMorgan Chase & Co. boosted their price target on shares of AppLovin from $500.00 to $515.00 and gave the stock a “neutral” rating in a research note on Thursday, May 7th. Three analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and eight have assigned a Hold rating to the stock. According to MarketBeat.com, AppLovin currently has a consensus rating of “Moderate Buy” and a consensus target price of $556.43.

AppLovin Stock Up 0.3%

APP opened at $308.26 on Wednesday. The firm has a market capitalization of $103.16 billion, a P/E ratio of 23.55, a price-to-earnings-growth ratio of 0.63 and a beta of 2.54. AppLovin has a one year low of $303.17 and a one year high of $745.61. The company has a fifty day moving average price of $438.54 and a 200-day moving average price of $452.21. The company has a debt-to-equity ratio of 1.11, a current ratio of 4.30 and a quick ratio of 4.30.

AppLovin (NASDAQ:APP) last issued its quarterly earnings data on Tuesday, August 4th. The company reported $3.76 earnings per share (EPS) for the quarter, hitting 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 return on equity of 193.10% and a net margin of 64.58%.The firm’s revenue was up 52.8% compared to the same quarter last year. During the same quarter last year, the business posted $2.39 earnings per share. Equities research analysts expect that AppLovin will post 15.57 earnings per share for the current fiscal year.

Insider Transactions at AppLovin

In related news, insider Victoria Valenzuela sold 20,000 shares of the company’s stock in a transaction that occurred on Thursday, June 4th. The stock was sold at an average price of $565.89, for a total value of $11,317,800.00. Following the sale, the insider owned 243,961 shares in the company, valued at $138,055,090.29. This represents a 7.58% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO Arash Adam Foroughi sold 22,544 shares of the firm’s stock in a transaction on Friday, June 12th. The shares were sold at an average price of $494.98, for a total value of $11,158,829.12. Following the transaction, the chief executive officer owned 2,327,684 shares of the company’s stock, valued at $1,152,157,026.32. The trade was a 0.96% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last 90 days, insiders sold 393,000 shares of company stock worth $197,297,363. 12.81% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On AppLovin

A number of large investors have recently added to or reduced their stakes in the stock. Archer Investment Corp bought a new stake in AppLovin during the second quarter valued at approximately $42,000. Public Employees Retirement System of Ohio purchased a new stake in AppLovin in the 2nd quarter worth $47,526,000. Ancora Advisors LLC purchased a new stake in shares of AppLovin during the second quarter worth about $169,000. Kelly Lawrence W & Associates Inc. CA bought a new stake in shares of AppLovin during the second quarter valued at approximately $11,669,000. Finally, C M Bidwell & Associates Ltd. bought a new stake in AppLovin in the 2nd quarter valued at $483,000. Institutional investors own 41.85% of the company’s stock.

About AppLovin

AppLovin Corporation is a Palo Alto–based mobile technology company that provides software and services to help app developers grow and monetize their businesses. The company operates a data-driven advertising and marketing platform that connects app publishers and advertisers, delivering tools for user acquisition, monetization, analytics and creative optimization. AppLovin’s technology is integrated into a broad set of mobile applications through software development kits (SDKs) and ad products designed to maximize revenue and engagement for developers.

Key components of AppLovin’s offering include an ad mediation and exchange platform that enables publishers to manage and monetize inventory across multiple demand sources, and a user-acquisition platform that helps advertisers target and scale campaigns.