AppLovin Co. (NYSE:APP) Given Average Rating of “Buy” by Brokerages

Shares of AppLovin Co. (NYSE:APP) have been assigned a consensus recommendation of “Buy” from the fourteen ratings firms that are covering the firm, MarketBeat Ratings reports. One investment analyst has rated the stock with a hold rating and thirteen have given a buy rating to the company. The average 1-year price target among analysts that have covered the stock in the last year is $78.15.

A number of brokerages recently commented on APP. Citigroup lifted their price objective on AppLovin from $69.00 to $81.00 and gave the stock a “buy” rating in a research report on Friday, June 4th. Macquarie began coverage on AppLovin in a research report on Tuesday, August 31st. They issued an “outperform” rating and a $90.00 price objective for the company. Stifel Nicolaus upgraded AppLovin from a “hold” rating to a “buy” rating and lifted their price objective for the stock from $65.00 to $90.00 in a research report on Thursday, September 9th. Finally, Morgan Stanley upgraded AppLovin from an “underweight” rating to an “equal weight” rating and lowered their price objective for the stock from $68.00 to $60.00 in a research report on Monday, August 16th.

In other AppLovin news, CMO Katie Kihorany Jansen sold 1,930 shares of the business’s stock in a transaction that occurred on Monday, August 23rd. The stock was sold at an average price of $72.00, for a total value of $138,960.00. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, major shareholder John Krystynak sold 13,139 shares of the business’s stock in a transaction that occurred on Wednesday, August 18th. The shares were sold at an average price of $65.14, for a total value of $855,874.46. Following the completion of the sale, the insider now owns 24,049,719 shares in the company, valued at approximately $1,566,598,695.66. The disclosure for this sale can be found here. Insiders have sold a total of 153,169 shares of company stock worth $11,117,179 in the last quarter. 1.90% of the stock is currently owned by company insiders.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in APP. Banque Cantonale Vaudoise bought a new stake in AppLovin in the 2nd quarter valued at approximately $38,000. Steward Partners Investment Advisory LLC bought a new stake in shares of AppLovin during the 2nd quarter worth approximately $52,000. Royal Bank of Canada bought a new stake in shares of AppLovin during the 2nd quarter worth approximately $62,000. Sandy Spring Bank bought a new stake in shares of AppLovin during the 2nd quarter worth approximately $75,000. Finally, Citigroup Inc. bought a new stake in shares of AppLovin during the 2nd quarter worth approximately $102,000. Hedge funds and other institutional investors own 35.80% of the company’s stock.

Shares of AppLovin stock traded up $1.13 during trading on Friday, reaching $72.75. The company’s stock had a trading volume of 1,636,951 shares, compared to its average volume of 1,397,477. The stock has a 50-day moving average of $66.98. The company has a quick ratio of 2.85, a current ratio of 2.85 and a debt-to-equity ratio of 0.87. AppLovin has a one year low of $49.41 and a one year high of $90.03.

AppLovin (NYSE:APP) last announced its quarterly earnings data on Tuesday, August 10th. The company reported $0.04 EPS for the quarter, missing the Zacks’ consensus estimate of $0.05 by ($0.01). As a group, sell-side analysts anticipate that AppLovin will post 0.26 EPS for the current year.

AppLovin Company Profile

AppLovin Corporation engages in building a software-based platform for mobile app developers to enhance the marketing and monetization of their apps worldwide. The company's software solutions include AppDiscovery, a solution to automate, optimize, and manage user acquisition investments for business clients; and MAX, an in-app bidding solution that optimizes purchases of app ad inventory.

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Analyst Recommendations for AppLovin (NYSE:APP)

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