AppLovin (NASDAQ:APP) Stock Price Up 10% – Still a Buy?

AppLovin Corporation (NASDAQ:APP) shares traded up 10% during trading on Wednesday . The stock traded as high as $485.16 and last traded at $482.81. 8,301,025 shares traded hands during trading, an increase of 23% from the average session volume of 6,752,963 shares. The stock had previously closed at $438.89.

Wall Street Analyst Weigh In

APP has been the subject of several recent research reports. Wedbush increased their price target on AppLovin from $465.00 to $640.00 and gave the company an “outperform” rating in a research note on Thursday, February 12th. Arete Research set a $340.00 target price on shares of AppLovin and gave the company a “neutral” rating in a research report on Monday. UBS Group set a $740.00 price target on shares of AppLovin in a report on Thursday, February 12th. Evercore reaffirmed a “buy” rating on shares of AppLovin in a research note on Friday, January 30th. Finally, The Goldman Sachs Group lowered their target price on shares of AppLovin from $710.00 to $585.00 and set a “neutral” rating for the company in a research note on Thursday, February 12th. Twenty-one analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $658.14.

AppLovin Stock Up 10.0%

The company has a current ratio of 3.32, a quick ratio of 3.32 and a debt-to-equity ratio of 1.65. The stock’s 50-day moving average price is $527.66 and its 200-day moving average price is $572.35. The company has a market cap of $162.84 billion, a P/E ratio of 49.52, a PEG ratio of 0.89 and a beta of 2.51.

AppLovin (NASDAQ:APP) last posted its quarterly earnings results on Wednesday, February 11th. The company reported $3.24 earnings per share for the quarter, topping analysts’ consensus estimates of $2.89 by $0.35. The business had revenue of $1.66 billion for the quarter, compared to the consensus estimate of $1.61 billion. AppLovin had a return on equity of 245.64% and a net margin of 57.42%.The firm’s revenue for the quarter was up 66.0% on a year-over-year basis. During the same period in the prior year, the business earned $1.73 EPS. As a group, research analysts forecast that AppLovin Corporation will post 6.87 EPS for the current year.

Insider Buying and Selling at AppLovin

In other AppLovin news, insider Victoria Valenzuela sold 7,609 shares of the firm’s stock in a transaction on Thursday, December 18th. The shares were sold at an average price of $657.13, for a total value of $5,000,102.17. Following the transaction, the insider directly owned 277,110 shares of the company’s stock, valued at approximately $182,097,294.30. This trade represents a 2.67% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Dawson Alyssa Harvey sold 150 shares of the business’s stock in a transaction dated Monday, December 8th. The stock was sold at an average price of $693.32, for a total transaction of $103,998.00. Following the sale, the director directly owned 2,829 shares of the company’s stock, valued at approximately $1,961,402.28. The trade was a 5.04% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 13.66% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the stock. CBIZ Investment Advisory Services LLC lifted its stake in AppLovin by 58.6% during the 3rd quarter. CBIZ Investment Advisory Services LLC now owns 46 shares of the company’s stock valued at $33,000 after acquiring an additional 17 shares in the last quarter. Redhawk Wealth Advisors Inc. raised its holdings in shares of AppLovin by 2.9% in the fourth quarter. Redhawk Wealth Advisors Inc. now owns 640 shares of the company’s stock valued at $431,000 after purchasing an additional 18 shares during the last quarter. Verdence Capital Advisors LLC lifted its position in shares of AppLovin by 5.7% during the fourth quarter. Verdence Capital Advisors LLC now owns 333 shares of the company’s stock valued at $224,000 after purchasing an additional 18 shares in the last quarter. Versant Capital Management Inc boosted its holdings in AppLovin by 2.8% during the third quarter. Versant Capital Management Inc now owns 701 shares of the company’s stock worth $504,000 after purchasing an additional 19 shares during the last quarter. Finally, Claro Advisors LLC grew its position in AppLovin by 3.2% in the 3rd quarter. Claro Advisors LLC now owns 647 shares of the company’s stock worth $465,000 after purchasing an additional 20 shares in the last quarter. Institutional investors own 41.85% of the company’s stock.

AppLovin Company Profile

AppLovin Corporation is a Palo Alto–based mobile technology company that provides software and services to help app developers grow and monetize their businesses. The company operates a data-driven advertising and marketing platform that connects app publishers and advertisers, delivering tools for user acquisition, monetization, analytics and creative optimization. AppLovin’s technology is integrated into a broad set of mobile applications through software development kits (SDKs) and ad products designed to maximize revenue and engagement for developers.

Key components of AppLovin’s offering include an ad mediation and exchange platform that enables publishers to manage and monetize inventory across multiple demand sources, and a user-acquisition platform that helps advertisers target and scale campaigns.