Fintel reports that on October 22, 2024, Loop Capital initiated coverage of AppLovin (NasdaqGS:APP) with a Buy recommendation.
Analyst Price Forecast Suggests 31.39% Downside
As of September 25, 2024, the average one-year price target for AppLovin is $108.99/share. The forecasts range from a low of $66.66 to a high of $162.75. The average price target represents a decrease of 31.39% from its latest reported closing price of $158.85 / share.
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The projected annual revenue for AppLovin is 3,207MM, a decrease of 18.93%. The projected annual non-GAAP EPS is 0.78.
What is the Fund Sentiment?
There are 1,160 funds or institutions reporting positions in AppLovin. This is an increase of 181 owner(s) or 18.49% in the last quarter. Average portfolio weight of all funds dedicated to APP is 0.55%, an increase of 6.36%. Total shares owned by institutions increased in the last three months by 8.74% to 191,666K shares. 
The put/call ratio of APP is 0.66, indicating a bullish outlook.
What are Other Shareholders Doing?
GQG Partners holds 13,289K shares representing 4.47% ownership of the company. In its prior filing, the firm reported owning 22,646K shares , representing a decrease of 70.41%. The firm decreased its portfolio allocation in APP by 35.28% over the last quarter.
Wcm Investment Management holds 9,791K shares representing 3.30% ownership of the company. In its prior filing, the firm reported owning 7,187K shares , representing an increase of 26.60%. The firm increased its portfolio allocation in APP by 62.69% over the last quarter.
VTSMX - Vanguard Total Stock Market Index Fund Investor Shares holds 6,053K shares representing 2.04% ownership of the company. In its prior filing, the firm reported owning 4,227K shares , representing an increase of 30.17%. The firm increased its portfolio allocation in APP by 67.41% over the last quarter.
Lone Pine Capital holds 5,702K shares representing 1.92% ownership of the company. In its prior filing, the firm reported owning 5,320K shares , representing an increase of 6.71%. The firm increased its portfolio allocation in APP by 32.45% over the last quarter.
NAESX - Vanguard Small-Cap Index Fund Investor Shares holds 4,821K shares representing 1.62% ownership of the company. In its prior filing, the firm reported owning 3,429K shares , representing an increase of 28.88%. The firm increased its portfolio allocation in APP by 77.33% over 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.
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This story originally appeared on Fintel.
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