AppLovin Co. (NASDAQ:APP – Free Report) – Equities analysts at William Blair raised their fourth quarter 2024 EPS estimates for shares of AppLovin in a report issued on Wednesday, August 7. William Blair analyst R. Schackart now expects the company to report earnings of $0.92 per share for the quarter, up from their previous estimate of $0.76. The consensus estimate for AppLovin’s current full year earnings is $2.96 per share.
AppLovin (NASDAQ:APP – Get Free Report) released its latest earnings results on Wednesday, August 7. The company reported earnings per share of $0.89 for the quarter, beating the consensus estimate of $0.77 by $0.12. The company had revenue of $1.08 billion for the quarter, compared to the consensus estimate of $1.08 billion. AppLovin had a net margin of 16.46% and a return on equity of 51.55%. The company’s quarterly revenue grew 44.0% year over year. During the same quarter last year, the company generated earnings per share of $0.22.
Other research analysts have also recently issued reports on the company. Daiwa Capital Markets began coverage on AppLovin in a report on Monday, April 15. They gave the stock a “neutral” rating and a price target of $80.00. Morgan Stanley increased their price target on AppLovin from $55.00 to $70.00 and gave the company an “equal weight” rating in a research report on Tuesday, April 16. Jefferies Financial Group increased their price target on AppLovin from $93.00 to $105.00 and gave the company a “buy” rating in a research report on Thursday, May 9. Wedbush decreased their price target on AppLovin from $100.00 to $90.00 and gave the company an “outperform” rating in a research note on Thursday. Finally, Oppenheimer reiterated an “outperform” rating and set a price target of $105.00 (up from $97.00) on AppLovin shares in a report on Thursday. One research analyst rated the stock at “sell,” five rated it at “hold,” and twelve rated it at “buy.” According to MarketBeat.com, AppLovin currently has a consensus rating of “moderate buy” and an average price target of $71.60.
Check out our latest stock analysis on APP
AppLovin share performance
APP shares rose $0.65 during trading hours on Friday, reaching $77.38. The company had a trading volume of 4,907,309 shares, compared to its average volume of 4,142,467. AppLovin has a 12-month low of $33.17 and a 12-month high of $91.91. The company has a market cap of $25.46 billion, a price-to-earnings ratio of 46.06, a PEG ratio of 1.27 and a beta of 1.86. The company has a 50-day moving average of $80.00 and a 200-day moving average of $71.13. The company has a quick ratio of 2.11, a current ratio of 2.11 and a debt-to-equity ratio of 4.59.
Institutional investors comment on AppLovin
Institutional investors have recently changed their holdings in the company. Wealth Alliance bought a new position in shares of AppLovin during the second quarter valued at about $282,000. Edgestream Partners LP increased its position in AppLovin by 79.8% during the second quarter. Edgestream Partners LP now owns 13,289 shares of the company’s stock valued at $1,106,000 after buying an additional 5,898 shares in the last quarter. Quantbot Technologies LP increased its holdings in shares of AppLovin by 211.3% during the second quarter. Quantbot Technologies LP now owns 36,526 shares of the company’s stock valued at $3,040,000 after buying an additional 24,791 shares in the last quarter. Dimensional Fund Advisors LP increased its holdings in shares of AppLovin by 27.5% during the second quarter. Dimensional Fund Advisors LP now owns 1,494,516 shares of the company’s stock valued at $124,372,000 after purchasing an additional 322,563 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA increased its stake in shares of AppLovin by 3.0% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 186,395 shares of the company’s stock valued at $15,512,000 after purchasing an additional 5,483 shares in the last quarter. Institutional investors own 41.85% of the company’s stock.
Insider buying and selling
In other news, Director Eduardo Vivas sold 118,839 shares of AppLovin stock in a transaction that occurred on Friday, July 5. The shares were sold at an average price of $90.75, for a total transaction of $10,784,639.25. Following the completion of the sale, the director now directly owns 7,641,531 shares of the company’s stock, valued at approximately $693,468,938.25. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other news, insider Victoria Valenzuela sold 2,890 shares of the company’s stock in a transaction that occurred on Wednesday, May 22. The shares were sold at an average price of $81.37, for a total transaction of $235,159.30. Following the completion of the sale, the insider now directly owns 448,490 shares of the company’s stock, valued at approximately $36,493,631.30. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Eduardo Vivas sold 118,839 shares of the company’s stock in a transaction on Friday, July 5. The shares were sold at an average price of $90.75, for a total transaction of $10,784,639.25. Following the sale, the director now directly owns 7,641,531 shares of the company’s stock, valued at $693,468,938.25. The disclosure regarding this sale can be found here. Insiders have sold a total of 17,709,742 shares of the company’s stock during the last quarter, valued at $1,477,073,771. 14.69% of the shares are currently owned by insiders.
About AppLovin
(Get free report)
AppLovin Corporation is engaged in building a software-based platform for advertisers to improve the marketing and monetization of their content in the United States and internationally. The company operates in two segments: Software Platform and Apps. The company’s software solutions include AppDiscovery, a marketing software solution that matches advertiser demand with publisher supply through auctions; MAX, an in-app bidding software that optimizes the value of a publisher’s advertising inventory by conducting a competitive auction in real time; Adjust, a measurement and analytics marketing platform that provides marketers with the visibility, insights and tools they need to develop their apps from early stage to maturity; and Wurl, a connected TV platform that distributes streaming video for content companies and provides advertising and publishing solutions through its AdPool, ContentDiscovery and Global FAST Pass products.
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