AppLovin (NASDAQ:APP) Trading 2.2% Higher – Should You Buy?

AppLovin Co. (NASDAQ:APP)’s share price traded up 2.2% during trading on Monday . The stock traded as high as $362.45 and last traded at $358.39. 1,509,928 shares were traded during trading, a decline of 57% from the average session volume of 3,516,944 shares. The stock had previously closed at $350.65.

Wall Street Analysts Forecast Growth

APP has been the topic of a number of analyst reports. Jefferies Financial Group lifted their price objective on shares of AppLovin from $400.00 to $425.00 and gave the company a “buy” rating in a research report on Wednesday. Bank of America boosted their price target on shares of AppLovin from $252.00 to $375.00 and gave the stock a “buy” rating in a research note on Monday, November 25th. Piper Sandler started coverage on shares of AppLovin in a report on Wednesday, November 20th. They set an “overweight” rating and a $400.00 price target for the company. Wedbush reaffirmed an “outperform” rating and issued a $270.00 price objective (up previously from $170.00) on shares of AppLovin in a report on Thursday, November 7th. Finally, JPMorgan Chase & Co. increased their target price on AppLovin from $160.00 to $200.00 and gave the stock a “neutral” rating in a research note on Thursday, November 7th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $312.18.

AppLovin Stock Down 0.2 %

The company has a quick ratio of 2.41, a current ratio of 2.41 and a debt-to-equity ratio of 3.70. The firm’s fifty day simple moving average is $312.12 and its 200-day simple moving average is $177.04. The company has a market cap of $110.48 billion, a PE ratio of 99.76, a P/E/G ratio of 4.17 and a beta of 2.29.

AppLovin (NASDAQ:APP) last released its quarterly earnings results on Wednesday, November 6th. The company reported $1.25 earnings per share for the quarter, topping the consensus estimate of $0.92 by $0.33. AppLovin had a return on equity of 122.24% and a net margin of 26.85%. The company had revenue of $1.20 billion during the quarter, compared to the consensus estimate of $1.13 billion. During the same quarter last year, the business posted $0.30 earnings per share. AppLovin’s revenue was up 38.6% compared to the same quarter last year. As a group, equities research analysts expect that AppLovin Co. will post 4.06 earnings per share for the current fiscal year.

Insider Buying and Selling at AppLovin

In other news, Director Dawson Alyssa Harvey sold 500 shares of AppLovin stock in a transaction on Friday, December 6th. The stock was sold at an average price of $406.27, for a total value of $203,135.00. Following the completion of the sale, the director now owns 6,684 shares of the company’s stock, valued at $2,715,508.68. The trade was a 6.96 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Victoria Valenzuela sold 15,971 shares of the stock in a transaction dated Thursday, December 19th. The stock was sold at an average price of $313.07, for a total value of $5,000,040.97. Following the transaction, the insider now owns 372,205 shares in the company, valued at $116,526,219.35. This trade represents a 4.11 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 888,867 shares of company stock worth $284,773,062. Corporate insiders own 14.69% of the company’s stock.

Institutional Investors Weigh In On AppLovin

A number of institutional investors have recently bought and sold shares of the stock. WCM Investment Management LLC increased its position in AppLovin by 10.5% during the 3rd quarter. WCM Investment Management LLC now owns 10,820,409 shares of the company’s stock worth $1,382,307,000 after purchasing an additional 1,029,009 shares in the last quarter. FMR LLC boosted its position in shares of AppLovin by 622.8% in the third quarter. FMR LLC now owns 7,893,237 shares of the company’s stock worth $1,030,462,000 after buying an additional 6,801,138 shares during the period. Lone Pine Capital LLC boosted its holdings in AppLovin by 7.2% in the 2nd quarter. Lone Pine Capital LLC now owns 5,702,438 shares of the company’s stock worth $474,557,000 after acquiring an additional 382,767 shares during the period. State Street Corp grew its position in AppLovin by 8.6% in the third quarter. State Street Corp now owns 5,388,023 shares of the company’s stock valued at $703,406,000 after acquiring an additional 428,419 shares in the last quarter. Finally, Geode Capital Management LLC raised its stake in shares of AppLovin by 12.8% during the third quarter. Geode Capital Management LLC now owns 3,946,135 shares of the company’s stock valued at $514,418,000 after purchasing an additional 449,241 shares during the period. 41.85% of the stock is currently owned by hedge funds and other institutional investors.

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.