AppLovin Co. (NYSE:APP) Receives Consensus “Buy” Rating from Analysts

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AppLovin Co. (NYSE:APP – Get Rating) has earned an average “Buy” recommendation from the fifteen analysts currently covering the stock, reports Marketbeat Ratings. Nine research analysts have rated the stock with a Buy recommendation. The 12-month average price target among analysts who have rated the stock over the past year is $69.36.

Several research analysts have recently published reports on the company. Credit Suisse Group lowered its price target on AppLovin from $100.00 to $80.00 in a Monday, August 8 research note. Truist Financial lowered its price target on AppLovin from $77.00 to $65.00 in a Thursday, August 11 research note. Oppenheimer lowered his price target on AppLovin from $65.00 to $45.00 and set an “outperform” rating for the company in a Tuesday, September 13 research note. Goldman Sachs Group lowered its price target on AppLovin from $65.00 to $58.00 in a Thursday, June 9 research note. Finally, Morgan Stanley cut its price target on AppLovin shares from $70.00 to $65.00 and set an “overweight” rating for the company in a Monday, June 13 research report.

AppLovin Stock Down 2.9%

APP stock opened at $21.14 on Thursday. The stock has a market capitalization of $7.94 billion, a P/E ratio of -72.89, a growth price/earnings ratio of 4.96 and a beta of 2.34. The company has a current ratio of 2.82, a quick ratio of 2.82 and a debt ratio of 1.67. AppLovin has a 12-month low of $21.11 and a 12-month high of $116.09. The company has a 50-day moving average price of $30.23 and a 200-day moving average price of $37.99.

AppLovin (NYSE:APP – Get Rating) last released its results on Wednesday, August 10. The company reported ($0.06) EPS for the quarter, missing analyst consensus estimates of $0.15 per ($0.21). AppLovin posted a positive return on equity of 3.82% and a negative net margin of 3.61%. The company posted revenue of $776.23 million in the quarter, versus a consensus estimate of $827.75 million. During the same period last year, the company posted EPS of $0.04. The company’s revenue increased by 16.1% compared to the same quarter last year. As a group, equity research analysts expect AppLovin to post EPS of 0.23 for the current fiscal year.

Insider Trading at AppLovin

Separately, CTO Vasily Shikin sold 22,500 shares of the company in a trade that took place on Wednesday, August 24. The shares were sold at an average price of $26.59, for a total transaction of $598,275.00. Following the completion of the sale, the chief technology officer now owns 2,644,535 shares of the company, valued at approximately $70,318,185.65. The sale was disclosed in a legal filing with the SEC, accessible via this link. Separately, CTO Vasily Shikin sold 22,500 shares in a trade on Wednesday, August 24. The stock was sold at an average price of $26.59, for a total value of $598,275.00. Following the transaction, the CTO now directly owns 2,644,535 shares of the company, valued at approximately $70,318,185.65. The sale was disclosed in a filing with the SEC, which is available on the SEC’s website. Additionally, director Eduardo Vivas sold 106,762 shares of AppLovin in a trade on Monday, August 15. The shares were sold at an average price of $34.05, for a total transaction of $3,635,246.10. Following the completion of the sale, the administrator now directly owns 10,781,081 shares of the company, valued at approximately $367,095,808.05. The disclosure of this sale can be found here. Insiders hold 12.78% of the company’s shares.

AppLovin Institutional Trading

Hedge funds have recently been buying and selling shares of the company. Crescent Park Management LP increased its position in AppLovin by 27.4% in Q1. Crescent Park Management LP now owns 231,648 shares of the company valued at $12,757,000 after purchasing an additional 49,891 shares during the period. Goldman Sachs Group Inc. increased its position in AppLovin by 26.0% in the fourth quarter. Goldman Sachs Group Inc. now owns 1,500,055 shares of the company valued at $141,395,000 after purchasing an additional 309,385 shares during the period. Walleye Capital LLC increased its stake in AppLovin by 271.9% during the 1st quarter. Walleye Capital LLC now owns 31,533 shares of the company worth $1,737,000 after acquiring 23,053 additional shares in the last quarter. Cinctive Capital Management LP increased its stake in AppLovin by 7.6% during the 4th quarter. Cinctive Capital Management LP now owns 11,350 shares of the company worth $1,070,000 after acquiring 800 additional shares in the last quarter. Finally, GQG Partners LLC bought a new position in AppLovin during Q4 worth $91,349,000. Institutional investors and hedge funds own 37.23% of the company’s shares.

About AppLovin

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AppLovin Corporation is committed to creating a software platform for mobile application developers to improve the marketing and monetization of their applications in the United States and internationally. The Company’s software solutions include AppDiscovery, a marketing software solution, which matches advertiser demand with publisher supply through auctions; Adjust, an analytics platform that helps marketers grow their mobile apps with solutions for measurement, campaign optimization and user data protection; and MAX, an in-app bidding software that optimizes the value of an app’s advertising inventory by running a competitive auction in real time.

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Analyst Recommendations for AppLovin (NYSE: APP)

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