AppLovin (NASDAQ:APP) Sets New 52-Week High – Still a Buy?

AppLovin Co. (NASDAQ:APP)’s share price hit a new 52-week high during mid-day trading on Monday . The company traded as high as $345.69 and last traded at $345.64, with a volume of 761509 shares changing hands. The stock had previously closed at $336.75.

Analyst Ratings Changes

APP has been the topic of a number of research analyst reports. Benchmark reiterated a “sell” rating and set a $66.00 target price on shares of AppLovin in a research report on Thursday, November 7th. Loop Capital increased their price objective on shares of AppLovin from $181.00 to $385.00 and gave the company a “buy” rating in a research note on Monday, November 11th. Jefferies Financial Group raised their target price on shares of AppLovin from $270.00 to $400.00 and gave the company a “buy” rating in a report on Tuesday, November 26th. Daiwa Capital Markets raised shares of AppLovin from a “neutral” rating to an “outperform” rating and upped their price target for the company from $80.00 to $280.00 in a report on Friday, November 8th. Finally, Wedbush reissued an “outperform” rating and set a $270.00 price objective (up from $170.00) on shares of AppLovin in a research note on Thursday, November 7th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $265.57.

AppLovin Trading Up 7.6 %

The stock has a market capitalization of $123.01 billion, a PE ratio of 111.08, a PEG ratio of 4.20 and a beta of 2.28. The company has a current ratio of 2.41, a quick ratio of 2.41 and a debt-to-equity ratio of 3.70. The business’s 50-day moving average is $206.20 and its two-hundred day moving average is $128.10.

AppLovin (NASDAQ:APP) last released its quarterly earnings results on Wednesday, November 6th. The company reported $1.25 earnings per share for the quarter, topping analysts’ consensus estimates of $0.92 by $0.33. AppLovin had a return on equity of 122.24% and a net margin of 26.85%. The firm had revenue of $1.20 billion during the quarter, compared to analysts’ expectations of $1.13 billion. During the same quarter in the prior year, the business earned $0.30 EPS. AppLovin’s quarterly revenue was up 38.6% compared to the same quarter last year. On average, analysts predict that AppLovin Co. will post 4.06 earnings per share for the current year.

Insider Activity

In related news, Director Mary Margaret Hasti Georgiadis sold 30,500 shares of the business’s stock in a transaction dated Friday, November 29th. The stock was sold at an average price of $339.69, for a total value of $10,360,545.00. Following the completion of the sale, the director now directly owns 154,500 shares of the company’s stock, valued at $52,482,105. The trade was a 16.49 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CTO Vasily Shikin sold 154,500 shares of the business’s stock in a transaction that occurred on Friday, September 6th. The shares were sold at an average price of $84.14, for a total value of $12,999,630.00. Following the completion of the sale, the chief technology officer now owns 4,530,455 shares of the company’s stock, valued at $381,192,483.70. This trade represents a 3.30 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 914,895 shares of company stock worth $253,462,174. 14.69% of the stock is currently owned by insiders.

Institutional Trading of AppLovin

Several large investors have recently added to or reduced their stakes in the business. National Bank of Canada FI boosted its stake in AppLovin by 4.0% during the 3rd quarter. National Bank of Canada FI now owns 1,003 shares of the company’s stock valued at $131,000 after purchasing an additional 39 shares in the last quarter. Great Valley Advisor Group Inc. raised its position in AppLovin by 2.2% in the third quarter. Great Valley Advisor Group Inc. now owns 2,837 shares of the company’s stock worth $370,000 after acquiring an additional 60 shares in the last quarter. HM Payson & Co. raised its position in AppLovin by 50.0% in the third quarter. HM Payson & Co. now owns 300 shares of the company’s stock worth $39,000 after acquiring an additional 100 shares in the last quarter. Aptus Capital Advisors LLC lifted its holdings in AppLovin by 0.3% in the 3rd quarter. Aptus Capital Advisors LLC now owns 33,478 shares of the company’s stock valued at $4,371,000 after acquiring an additional 104 shares during the last quarter. Finally, Ashton Thomas Securities LLC boosted its position in shares of AppLovin by 2.6% during the 3rd quarter. Ashton Thomas Securities LLC now owns 4,797 shares of the company’s stock valued at $626,000 after purchasing an additional 121 shares in the last quarter. 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.