Oppenheimer Reiterates ‘Outperform’ Rating for AppLovin (NASDAQ:APP)

Oppenheimer reiterated its outperform rating on the stock AppLovin (NASDAQ:APP – Free Report) in a research note issued to investors on Thursday, Benzinga reports. Oppenheimer currently has a $105.00 price target on the stock, up from their previous price target of $97.00.

Other equities analysts recently issued reports on the stock. Needham & Company LLC reissued a hold rating on shares of AppLovin in a research note on Thursday, May 9th. Jefferies Financial Group lifted their price target on AppLovin from $93.00 to $105.00 and gave the stock a buy rating in a research report on Thursday, May 9th. Citigroup boosted their price objective on AppLovin from $80.00 to $98.00 and gave the company a buy rating in a research report on Friday, May 10th. BTIG Research boosted their price target on AppLovin from $87.00 to $100.00 and gave the stock a buy rating in a report on Thursday, May 9th. Finally, Daiwa Capital Markets began coverage on AppLovin in a report on Monday, April 15th. They set a neutral rating and a $80.00 price target on the stock. One analyst has rated the stock with a sell rating, four have given a hold rating and eleven have given a buy rating to the company. The stock presently has a consensus rating of Moderate Buy and a consensus price target of $74.95, according to data from MarketBeat.com.

Read our latest report on APP

AppLovin Stock Up 0.8%

APP opened at $77.38 on Thursday. AppLovin has a 52 week low of $33.17 and a 52 week high of $91.91. The company has a quick ratio of 2.11, a current ratio of 2.11, and a debt-to-equity ratio of 4.59. The firm has a 50 day simple moving average of $80.00 and a two hundred day simple moving average of $71.31. The company has a market cap of $25.46 billion, a PE ratio of 46.06, a price-to-earnings-growth ratio of 1.27 and a beta of 1.86.

AppLovin (NASDAQ:APP – Get Free Report ) last released its quarterly earnings results on Wednesday, August 7th. The company reported $0.89 earnings per share for the quarter, topping the consensus estimate of $0.77 by $0.12. The company had revenue of $1.08 billion during the quarter, compared to analysts’ expectations of $1.08 billion. AppLovin had a return on equity of 51.55% and a net margin of 16.46%. The company’s revenue for the quarter was up 44.0% compared to the same quarter last year. In the same quarter last year, the business posted EPS of $0.22. analysts forecast that AppLovin will post 2.96 earnings per share for the current fiscal year.

Indoor activity

In related news, Director Craig Scott Billings sold 5,620 shares of the business’s stock in a transaction dated Monday, May 13th. The shares were sold at an average price of $84.97, for a total value of $477,531.40. Following the transaction, the director now owns 1,780 shares of the company’s stock, valued at approximately $151,246.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In related news, Director Craig Scott Billings sold 5,620 shares of the business’s stock in a transaction that occurred on Monday, May 13th. The stock was sold at an average price of $84.97, for a total value of $477,531.40. Following the completion of the sale, the director now owns 1,780 shares in the company, valued at $151,246.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC’s website. Also, insider Victoria Valenzuela sold 2,890 shares of the company’s stock in a transaction dated Wednesday, May 22nd. The stock was sold at an average price of $81.37, for a total value of $235,159.30. Following the completion of the sale, the insider now owns 448,490 shares of the company’s stock, valued at $36,493,631.30. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 17,709,742 shares of company stock worth $1,477,073,771. 14.69% of shares are currently owned by company insiders.

Hedge funds influence AppLovin

Institutional investors have recently bought and sold shares of the business. WCM Investment Management LLC acquired a new stake in AppLovin in the first quarter valued at $497,488,000. Sapient Capital LLC acquired a new stake in shares of AppLovin in the 4th quarter valued at $165,057,000. Whale Rock Capital Management LLC bought a new stake in AppLovin in the first quarter valued at about $195,129,000. Jericho Capital Asset Management LP raised its stake in AppLovin by 185.0% in the 1st quarter. Jericho Capital Asset Management LP now owns 3,890,567 shares of the company’s stock valued at $269,305,000 after buying an additional 2,525,240 shares during the last quarter. Finally, Norges Bank bought a new position in AppLovin in the fourth quarter valued at approximately $43,973,000. 41.85% of the shares are held by hedge funds and other institutional investors.

AppLovin Company Profile

(Get a free report)

AppLovin Corporation is committed to building a software-based platform for advertisers to improve the marketing and monetization of their content in the United States and internationally. It operates through two segments, Software Platform and Applications. The company’s software solutions include AppDiscovery, a marketing software solution that matches advertiser demand with publisher supply through auctions; MAX, an in-app bidding software that optimizes the value of a publisher’s ad inventory by running a competitive auction in real time; Adjust, a marketing measurement and analytics platform that gives marketers the visibility, insights and tools they need to grow their apps from early stage to maturity; and Wurl, a connected TV platform that distributes streaming video for content companies and offers advertising and publishing solutions through its AdPool, ContentDiscovery and Global FAST Pass products.

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