BTIG Upgrades Applovin

By 247patrick Updated Jul 25, 11:35AM EDT · Published Jul 25, 6:55AM EDT

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BTIG Upgrades Applovin — © Keikona / iStock via Getty Images

Fintel reports that on July 24, 2023, BTIG upgraded their outlook for Applovin Corp – (NASDAQ:APP) from Neutral to Buy.

Analyst Price Forecast Suggests 6.52% Downside

As of July 6, 2023, the average one-year price target for Applovin Corp – is 26.32. The forecasts range from a low of 14.14 to a high of $51.45. The average price target represents a decrease of 6.52% from its latest reported closing price of 28.15.

See our leaderboard of companies with the largest price target upside.

The projected annual revenue for Applovin Corp – is 2,873MM, a decrease of 1.17%. The projected annual non-GAAP EPS is 0.38.

What is the Fund Sentiment?

There are 452 funds or institutions reporting positions in Applovin Corp -. This is a decrease of 19 owner(s) or 4.03% in the last quarter. Average portfolio weight of all funds dedicated to APP is 0.44%, an increase of 29.60%. Total shares owned by institutions increased in the last three months by 3.67% to 173,831K shares. The put/call ratio of APP is 0.51, indicating a bullish outlook.

What are Other Shareholders Doing?

Kohlberg Kravis Roberts & Co. holds 60,735K shares representing 17.46% ownership of the company. No change in the last quarter.

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.

NAESX – Vanguard Small-Cap Index Fund Investor Shares holds 4,218K shares representing 1.21% ownership of the company. In it’s prior filing, the firm reported owning 2,266K shares, representing an increase of 46.28%. The firm increased its portfolio allocation in APP by 167.22% 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.

This article originally appeared on Fintel