AppLovin (NASDAQ:APP) Price Target Raised to $650.00 at Loop Capital

AppLovin (NASDAQ:APP) had its price objective hoisted by Loop Capital from $450.00 to $650.00 in a report issued on Thursday morning,Benzinga reports. Loop Capital currently has a buy rating on the stock.

Other analysts also recently issued reports about the stock. BTIG Research lifted their price target on shares of AppLovin from $202.00 to $291.00 and gave the company a “buy” rating in a report on Thursday, November 7th. Macquarie raised their price objective on AppLovin from $270.00 to $450.00 and gave the company an “outperform” rating in a research report on Friday, December 6th. Daiwa Capital Markets upgraded AppLovin from a “neutral” rating to an “outperform” rating and boosted their target price for the stock from $80.00 to $280.00 in a research report on Friday, November 8th. JPMorgan Chase & Co. raised their price target on AppLovin from $325.00 to $475.00 and gave the company a “neutral” rating in a report on Thursday, February 13th. Finally, UBS Group upped their price objective on AppLovin from $440.00 to $630.00 and gave the stock a “buy” rating in a report on Thursday, February 13th. Four equities research analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $442.18.

AppLovin Stock Performance

NASDAQ APP opened at $450.01 on Thursday. The business has a 50-day moving average price of $363.77 and a 200-day moving average price of $240.83. The firm has a market cap of $151.02 billion, a price-to-earnings ratio of 99.12, a price-to-earnings-growth ratio of 3.61 and a beta of 2.30. AppLovin has a twelve month low of $54.50 and a twelve month high of $525.15. The company has a quick ratio of 2.41, a current ratio of 2.41 and a debt-to-equity ratio of 3.70.

AppLovin (NASDAQ:APP) last posted its quarterly earnings results on Wednesday, February 12th. The company reported $1.73 earnings per share for the quarter, topping the consensus estimate of $1.12 by $0.61. AppLovin had a return on equity of 188.55% and a net margin of 33.54%. As a group, equities research analysts predict that AppLovin will post 6.87 EPS for the current fiscal year.

Insider Activity at AppLovin

In related news, insider Victoria Valenzuela sold 15,971 shares of the business’s stock in a transaction on Thursday, December 19th. The stock was sold at an average price of $313.07, for a total transaction of $5,000,040.97. Following the completion of the transaction, the insider now owns 372,205 shares in the company, valued at $116,526,219.35. The trade was a 4.11 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Eduardo Vivas sold 30,330 shares of the company’s stock in a transaction on Tuesday, November 26th. The shares were sold at an average price of $330.67, for a total value of $10,029,221.10. Following the completion of the transaction, the director now directly owns 90,576 shares in the company, valued at $29,950,765.92. This trade represents a 25.09 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 196,302 shares of company stock worth $65,305,354. Insiders own 14.69% of the company’s stock.

Institutional Trading of AppLovin

A number of large investors have recently made changes to their positions in APP. Townsquare Capital LLC lifted its holdings in AppLovin by 64.9% during the 3rd quarter. Townsquare Capital LLC now owns 7,942 shares of the company’s stock valued at $1,037,000 after buying an additional 3,126 shares in the last quarter. Second Half Financial Partners LLC bought a new position in AppLovin in the 3rd quarter worth about $224,000. State Street Corp increased its position in shares of AppLovin by 8.6% during the third quarter. State Street Corp now owns 5,388,023 shares of the company’s stock worth $703,406,000 after acquiring an additional 428,419 shares during the period. Eagle Asset Management Inc. raised its stake in shares of AppLovin by 2,200.4% during the third quarter. Eagle Asset Management Inc. now owns 523,149 shares of the company’s stock valued at $68,297,000 after acquiring an additional 500,407 shares in the last quarter. Finally, Zacks Investment Management boosted its holdings in shares of AppLovin by 328.1% in the third quarter. Zacks Investment Management now owns 106,121 shares of the company’s stock valued at $13,854,000 after purchasing an additional 81,331 shares during the period. 41.85% of the stock is owned by hedge funds and other institutional investors.

About AppLovin

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.