JPMorgan Chase & Co. Forecasts Strong Price Appreciation for AppLovin (NASDAQ:APP) Stock

AppLovin (NASDAQ:APP) had its price target raised by investment analysts at JPMorgan Chase & Co. from $160.00 to $200.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The brokerage presently has a “neutral” rating on the stock. JPMorgan Chase & Co.‘s target price indicates a potential downside of 18.61% from the company’s current price.

Other equities analysts have also recently issued research reports about the company. BTIG Research boosted their price target on AppLovin from $150.00 to $202.00 and gave the company a “buy” rating in a research report on Wednesday, October 30th. Benchmark reissued a “sell” rating and issued a $66.00 target price on shares of AppLovin in a report on Thursday. Oppenheimer increased their price target on AppLovin from $105.00 to $180.00 and gave the stock an “outperform” rating in a report on Wednesday, October 23rd. UBS Group raised shares of AppLovin from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $100.00 to $145.00 in a research note on Tuesday, September 17th. Finally, Bank of America raised their target price on shares of AppLovin from $100.00 to $120.00 and gave the stock a “buy” rating in a research note on Wednesday, September 11th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and twelve have issued a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $149.72.

AppLovin Stock Up 45.8 %

NASDAQ:APP traded up $77.19 during trading hours on Thursday, hitting $245.74. The company’s stock had a trading volume of 12,534,979 shares, compared to its average volume of 4,183,029. The stock has a market capitalization of $82.14 billion, a P/E ratio of 104.57, a price-to-earnings-growth ratio of 2.36 and a beta of 1.86. The company has a current ratio of 2.28, a quick ratio of 2.28 and a debt-to-equity ratio of 4.27. The stock has a fifty day moving average of $132.23 and a 200-day moving average of $98.51. AppLovin has a 52-week low of $35.79 and a 52-week high of $257.43.

AppLovin (NASDAQ:APP) last posted its earnings results on Wednesday, August 7th. The company reported $0.89 EPS for the quarter, beating analysts’ consensus estimates of $0.77 by $0.12. AppLovin had a net margin of 20.89% and a return on equity of 84.16%. The firm had revenue of $1.08 billion for the quarter, compared to the consensus estimate of $1.08 billion. During the same period last year, the firm posted $0.22 EPS. The company’s revenue was up 44.0% on a year-over-year basis. On average, equities analysts forecast that AppLovin will post 3.47 earnings per share for the current year.

Insider Activity

In other news, Director Dawson Alyssa Harvey sold 1,500 shares of the stock in a transaction dated Tuesday, September 10th. The shares were sold at an average price of $87.90, for a total transaction of $131,850.00. Following the transaction, the director now directly owns 10,247 shares in the company, valued at $900,711.30. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. In other news, CTO Vasily Shikin sold 5,500 shares of AppLovin stock in a transaction dated Monday, September 9th. The stock was sold at an average price of $86.04, for a total value of $473,220.00. Following the transaction, the chief technology officer now directly owns 4,536,447 shares of the company’s stock, valued at $390,315,899.88. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, Director Dawson Alyssa Harvey sold 1,500 shares of the stock in a transaction that occurred on Tuesday, September 10th. The stock was sold at an average price of $87.90, for a total transaction of $131,850.00. Following the sale, the director now directly owns 10,247 shares of the company’s stock, valued at approximately $900,711.30. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 610,094 shares of company stock valued at $51,022,478 over the last quarter. Company insiders own 14.69% of the company’s stock.

Institutional Trading of AppLovin

Several large investors have recently added to or reduced their stakes in the stock. Capital Performance Advisors LLP acquired a new stake in AppLovin in the third quarter valued at approximately $25,000. DT Investment Partners LLC purchased a new stake in AppLovin during the 3rd quarter worth $27,000. Raleigh Capital Management Inc. acquired a new position in AppLovin in the 3rd quarter worth $29,000. Quest Partners LLC purchased a new position in AppLovin in the 2nd quarter valued at about $33,000. Finally, Oliver Lagore Vanvalin Investment Group acquired a new stake in shares of AppLovin during the second quarter valued at about $34,000. 41.85% of the stock is currently owned by institutional investors and hedge funds.

AppLovin Company Profile

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.