AppLovin (NASDAQ:APP) Now Covered by Analysts at Daiwa Capital Markets

Daiwa Capital Markets assumed coverage on shares of AppLovin (NASDAQ:APP) in a research report released on Monday, MarketBeat Ratings reports. The brokerage issued a neutral rating and a $80.00 price target on the stock.

Several other research firms have also weighed in on APP. BTIG Research upped their target price on AppLovin from $65.00 to $87.00 and gave the company a buy rating in a report on Tuesday, April 9th. TheStreet raised shares of AppLovin from a d+ rating to a c- rating in a research note on Friday, March 8th. Wedbush lifted their target price on shares of AppLovin from $67.00 to $87.00 and gave the stock an outperform rating in a research report on Thursday, April 11th. UBS Group increased their price target on shares of AppLovin from $46.00 to $55.00 and gave the company a neutral rating in a research report on Thursday, February 15th. Finally, Oppenheimer lifted their price objective on AppLovin from $70.00 to $85.00 and gave the stock an outperform rating in a research report on Monday, April 8th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and twelve have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of Moderate Buy and an average target price of $59.31.

AppLovin Stock Performance

NASDAQ:APP opened at $68.86 on Monday. The company has a debt-to-equity ratio of 2.31, a current ratio of 1.71 and a quick ratio of 1.71. The firm has a market cap of $23.55 billion, a price-to-earnings ratio of 68.86, a price-to-earnings-growth ratio of 1.46 and a beta of 1.90. The firm’s fifty day moving average price is $64.85 and its 200 day moving average price is $48.74. AppLovin has a 1-year low of $15.41 and a 1-year high of $79.55.

AppLovin (NASDAQ:APP) last released its earnings results on Wednesday, February 14th. The company reported $0.49 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.35 by $0.14. AppLovin had a return on equity of 24.69% and a net margin of 10.84%. The company had revenue of $953.26 million for the quarter, compared to analysts’ expectations of $928.66 million. During the same quarter in the previous year, the firm posted ($0.21) EPS. The firm’s quarterly revenue was up 35.7% on a year-over-year basis. On average, sell-side analysts expect that AppLovin will post 2.47 EPS for the current year.

Insider Activity at AppLovin

In other news, Director Craig Scott Billings sold 5,550 shares of the stock in a transaction that occurred on Tuesday, February 20th. The stock was sold at an average price of $58.33, for a total transaction of $323,731.50. Following the completion of the transaction, the director now directly owns 12,739 shares in the company, valued at approximately $743,065.87. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. In related news, Director Craig Scott Billings sold 5,550 shares of AppLovin stock in a transaction dated Tuesday, February 20th. The stock was sold at an average price of $58.33, for a total value of $323,731.50. Following the completion of the transaction, the director now directly owns 12,739 shares in the company, valued at $743,065.87. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Victoria Valenzuela sold 50,000 shares of the business’s stock in a transaction that occurred on Thursday, April 4th. The shares were sold at an average price of $75.01, for a total value of $3,750,500.00. Following the completion of the sale, the insider now owns 471,560 shares of the company’s stock, valued at $35,371,715.60. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 61,215 shares of company stock valued at $4,416,815. Insiders own 12.43% of the company’s stock.

Hedge Funds Weigh In On AppLovin

Several institutional investors have recently modified their holdings of the company. GAMMA Investing LLC raised its stake in AppLovin by 13.6% during the 1st quarter. GAMMA Investing LLC now owns 1,285 shares of the company’s stock valued at $89,000 after acquiring an additional 154 shares in the last quarter. DeDora Capital Inc. raised its stake in shares of AppLovin by 1.8% during the first quarter. DeDora Capital Inc. now owns 9,596 shares of the company’s stock valued at $664,000 after purchasing an additional 166 shares in the last quarter. Lindbrook Capital LLC lifted its holdings in AppLovin by 26.6% in the fourth quarter. Lindbrook Capital LLC now owns 1,337 shares of the company’s stock worth $53,000 after purchasing an additional 281 shares during the period. Xponance Inc. grew its position in AppLovin by 2.5% in the 4th quarter. Xponance Inc. now owns 13,664 shares of the company’s stock valued at $545,000 after buying an additional 334 shares in the last quarter. Finally, CWM LLC increased its stake in AppLovin by 16.5% during the 3rd quarter. CWM LLC now owns 2,463 shares of the company’s stock valued at $98,000 after buying an additional 348 shares during the period. Institutional investors own 41.85% of the company’s stock.

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.