Fintel reports that on August 22, 2023, Jefferies upgraded their outlook for Applovin Corp - (NASDAQ:APP) from Hold to Buy .
Analyst Price Forecast Suggests 29.75% Downside
As of August 2, 2023, the average one-year price target for Applovin Corp - is 27.75. The forecasts range from a low of 14.14 to a high of $51.45. The average price target represents a decrease of 29.75% from its latest reported closing price of 39.50.
See our leaderboard of companies with the largest price target upside.
The projected annual revenue for Applovin Corp - is 2,873MM, a decrease of 0.28%. The projected annual non-GAAP EPS is 0.38.
What is the Fund Sentiment?
There are 466 funds or institutions reporting positions in Applovin Corp -. This is an increase of 6 owner(s) or 1.30% in the last quarter. Average portfolio weight of all funds dedicated to APP is 0.48%, an increase of 12.86%. Total shares owned by institutions decreased in the last three months by 12.64% to 151,468K shares. 
The put/call ratio of APP is 0.70, indicating a bullish outlook.
What are Other Shareholders Doing?
Kohlberg Kravis Roberts & Co. holds 29,645K shares representing 8.52% ownership of the company. In it's prior filing, the firm reported owning 60,735K shares, representing a decrease of 104.88%. The firm decreased its portfolio allocation in APP by 18.79% over the last quarter.
GQG Partners holds 15,079K shares representing 4.34% ownership of the company. In it's prior filing, the firm reported owning 0K shares, representing an increase of 100.00%.
Boston Private Wealth holds 13,801K shares representing 3.97% ownership of the company. In it's prior filing, the firm reported owning 13,800K shares, representing an increase of 0.00%. The firm increased its portfolio allocation in APP by 4.13% over the last quarter.
VTSMX - Vanguard Total Stock Market Index Fund Investor Shares holds 5,001K shares representing 1.44% ownership of the company. In it's prior filing, the firm reported owning 5,315K shares, representing a decrease of 6.28%. The firm increased its portfolio allocation in APP by 29.95% over the last quarter.
Spruce House Investment Management holds 5,000K shares representing 1.44% ownership of the company. No change in the last quarter.
Applovin Background Information
(This description is provided by the company.)
AppLovin’s global technology platform provides developers a powerful, integrated set of solutions to grow their businesses. AppLovin enables developers to market, monetize, analyze and publish their apps. Its studios create popular, immersive content and its technology brings that content to users around the world. AppLovin is headquartered in Palo Alto, California with several offices globally.
Additional reading:
- SHARE REPURCHASE AGREEMENT
- AMENDMENT NO. 9
- AppLovin Announces GQG Purchase of 10 Million Shares of Class A Common Stock from KKR
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