AppLovin Co. (NYSE:APP) – Analysts at Truist Securities issued their Q1 2022 earnings estimates for AppLovin in a note issued to investors on Monday, January 10th. Truist Securities analyst Y. Squali forecasts that the company will earn $0.16 per share for the quarter. Truist Securities has a “Buy” rating and a $116.00 price target on the stock. Truist Securities also issued estimates for AppLovin’s Q2 2022 earnings at $0.20 EPS, Q3 2022 earnings at $0.26 EPS, Q4 2022 earnings at $0.26 EPS, FY2022 earnings at $0.87 EPS, FY2023 earnings at $1.54 EPS, FY2024 earnings at $2.32 EPS, FY2025 earnings at $3.26 EPS and FY2026 earnings at $4.33 EPS.
APP has been the subject of a number of other reports. Morgan Stanley raised AppLovin from an “equal weight” rating to an “overweight” rating and boosted their price objective for the stock from $87.00 to $120.00 in a research report on Monday, December 13th. DA Davidson assumed coverage on AppLovin in a research note on Thursday, December 9th. They set a “buy” rating and a $125.00 target price for the company. Oppenheimer boosted their target price on AppLovin from $95.00 to $120.00 and gave the stock an “outperform” rating in a research note on Thursday, November 11th. Truist boosted their target price on AppLovin from $110.00 to $116.00 in a research note on Monday, January 10th. Finally, UBS Group boosted their target price on AppLovin from $112.00 to $118.00 and gave the stock a “buy” rating in a research note on Thursday, November 11th. Eighteen investment analysts have rated the stock with a buy rating, According to MarketBeat, the company presently has an average rating of “Buy” and a consensus price target of $105.06.
A number of institutional investors have recently bought and sold shares of the business. Kohlberg Kravis Roberts & Co. L.P. acquired a new stake in AppLovin in the second quarter valued at $8,122,155,000. Spruce House Investment Management LLC lifted its position in shares of AppLovin by 78.6% in the third quarter. Spruce House Investment Management LLC now owns 5,000,000 shares of the company’s stock valued at $361,850,000 after acquiring an additional 2,200,000 shares in the last quarter. BlackRock Inc. lifted its position in shares of AppLovin by 39.4% in the third quarter. BlackRock Inc. now owns 4,024,120 shares of the company’s stock valued at $291,226,000 after acquiring an additional 1,137,300 shares in the last quarter. Vanguard Group Inc. purchased a new stake in shares of AppLovin in the second quarter valued at $195,005,000. Finally, Marcho Partners LLP purchased a new stake in shares of AppLovin in the second quarter valued at $178,845,000. 38.96% of the stock is currently owned by institutional investors.
In other AppLovin news, major shareholder John Krystynak sold 180,000 shares of the company’s stock in a transaction on Tuesday, October 19th. The stock was sold at an average price of $95.86, for a total value of $17,254,800.00. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CAO Elena Arutunian sold 100,000 shares of the company’s stock in a transaction on Tuesday, December 7th. The shares were sold at an average price of $80.51, for a total value of $8,051,000.00. The disclosure for this sale can be found here. Insiders have sold 9,205,026 shares of company stock worth $752,660,657 in the last ninety days. 1.90% of the stock is currently owned by corporate insiders.
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.
Recommended Story: Golden Cross
Receive News & Ratings for AppLovin Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for AppLovin and related companies with MarketBeat.com's FREE daily email newsletter.