AppLovin (APP) Receives a Buy from BTIG
In a report released today, Clark Lampen from BTIG reiterated a Buy rating on AppLovin, with a price target of $640.00.
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Lampen covers the Communication Services sector, focusing on stocks such as Genius Sports Limited, Roblox, and AppLovin. According to TipRanks, Lampen has an average return of 22.3% and a 45.62% success rate on recommended stocks.
In addition to BTIG, AppLovin also received a Buy from TipRanks – Anthropic’s Anthropic Software – Application in a report issued today. However, on the same day, TipRanks – PerPlexity downgraded AppLovin (NASDAQ: APP) to a Hold.
Based on AppLovin’s latest earnings release for the quarter ending December 31, the company reported a quarterly revenue of $1.66 billion and a net profit of $1.1 billion. In comparison, last year the company earned a revenue of $1.37 billion and had a net profit of $599.2 million
Based on the recent corporate insider activity of 112 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of APP in relation to earlier this year. Last month, Eduardo Vivas, a Director at APP sold 20,910.00 shares for a total of $9,590,789.70.
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