Shares of AppLovin Co. (NYSE:APP) have received an average recommendation of “Buy” from the eighteen research firms that are covering the firm, Marketbeat.com reports. Seventeen research analysts have rated the stock with a buy rating. The average 1 year price objective among brokers that have issued ratings on the stock in the last year is $105.06.
A number of equities analysts have recently issued reports on APP shares. Morgan Stanley upgraded AppLovin from an “equal weight” rating to an “overweight” rating and raised their price objective for the stock from $87.00 to $120.00 in a research report on Monday, December 13th. JPMorgan Chase & Co. lifted their target price on AppLovin from $83.00 to $95.00 and gave the stock an “overweight” rating in a report on Thursday, September 23rd. Stifel Nicolaus lifted their target price on AppLovin from $110.00 to $125.00 and gave the stock a “buy” rating in a report on Friday, November 12th. Credit Suisse Group lifted their target price on AppLovin from $95.00 to $115.00 and gave the stock an “outperform” rating in a report on Thursday, November 11th. Finally, Cannonball Research assumed coverage on AppLovin in a research note on Monday, January 10th. They issued a “buy” rating and a $107.00 price objective for the company.
In other AppLovin news, major shareholder Denali Holdings L.P. Kkr sold 8,410,000 shares of the business’s stock in a transaction on Tuesday, December 7th. The stock was sold at an average price of $80.51, for a total value of $677,089,100.00. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, major shareholder Andrew Karam sold 2,800 shares of the business’s stock in a transaction on Thursday, November 4th. The stock was sold at an average price of $100.29, for a total value of $280,812.00. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 9,205,026 shares of company stock worth $752,660,657. 1.90% of the stock is owned by insiders.
Shares of APP opened at $79.01 on Friday. AppLovin has a 1 year low of $49.41 and a 1 year high of $116.09. The company has a debt-to-equity ratio of 0.84, a quick ratio of 2.85 and a current ratio of 2.85. The business has a 50-day moving average of $92.57 and a 200-day moving average of $80.88.
AppLovin Company Profile
AppLovin Corporation engages in building a software-based platform for mobile app developers to enhance the marketing and monetization of their apps worldwide. The company's software solutions include AppDiscovery, a solution to automate, optimize, and manage user acquisition investments for business clients; and MAX, an in-app bidding solution that optimizes purchases of app ad inventory.
Further Reading: Shanghai Stock Exchange Composite Index
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