Goldman Sachs Keeps Their Hold Rating on AppLovin (APP)

Goldman Sachs analyst Eric Sheridan maintained a Hold rating on AppLovin yesterday and set a price target of $535.00. The company’s shares closed yesterday at $417.45.

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According to TipRanks, Sheridan is a 3-star analyst with an average return of 2.0% and a 46.11% success rate. Sheridan covers the Communication Services sector, focusing on stocks such as Alphabet Class A, Meta Platforms, and Netflix.

The word on The Street in general, suggests a Strong Buy analyst consensus rating for AppLovin with a $647.90 average price target.

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 111 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.