AppLovin (NASDAQ:APP) Announces Quarterly Earnings Results

AppLovin (NASDAQ:APP) issued its quarterly earnings data on Wednesday. The company reported $1.25 earnings per share for the quarter, topping analysts’ consensus estimates of $0.92 by $0.33, Zacks reports. AppLovin had a return on equity of 84.16% and a net margin of 20.89%. The firm had revenue of $1.20 billion for the quarter, compared to analyst estimates of $1.13 billion. During the same period last year, the company earned $0.30 EPS. The business’s quarterly revenue was up 38.6% compared to the same quarter last year. AppLovin updated its Q4 2024 guidance to EPS.

AppLovin Trading Up 17.6 %

APP traded up $43.48 during trading on Friday, reaching $290.01. The company had a trading volume of 15,031,876 shares, compared to its average volume of 4,260,833. The company has a quick ratio of 2.28, a current ratio of 2.28 and a debt-to-equity ratio of 4.27. AppLovin has a 52 week low of $35.79 and a 52 week high of $292.86. The stock has a market cap of $96.94 billion, a P/E ratio of 123.41, a PEG ratio of 2.29 and a beta of 1.86. The business has a 50 day simple moving average of $139.27 and a 200-day simple moving average of $101.08.

Analysts Set New Price Targets

Several brokerages recently issued reports on APP. Daiwa America upgraded shares of AppLovin from a “hold” rating to a “strong-buy” rating in a research report on Friday. The Goldman Sachs Group cut shares of AppLovin from a “buy” rating to a “neutral” rating and upped their price target for the stock from $103.00 to $150.00 in a research note on Monday, October 14th. Jefferies Financial Group lifted their target price on AppLovin from $105.00 to $108.00 and gave the stock a “buy” rating in a report on Tuesday, September 10th. Daiwa Capital Markets raised shares of AppLovin from a “neutral” rating to an “outperform” rating and boosted their price objective for the company from $80.00 to $280.00 in a report on Friday. Finally, Wedbush reissued an “outperform” rating and issued a $270.00 target price (up from $170.00) on shares of AppLovin in a research report on Thursday. One research analyst has rated the stock with a sell rating, four have issued a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $182.31.

Insider Buying and Selling at AppLovin

In other AppLovin news, insider Victoria Valenzuela sold 14,166 shares of the stock in a transaction on Thursday, August 22nd. The stock was sold at an average price of $89.98, for a total value of $1,274,656.68. Following the sale, the insider now owns 352,616 shares in the company, valued at $31,728,387.68. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In other AppLovin news, insider Victoria Valenzuela sold 14,166 shares of the company’s stock in a transaction on Thursday, August 22nd. The stock was sold at an average price of $89.98, for a total value of $1,274,656.68. Following the completion of the sale, the insider now directly owns 352,616 shares in the company, valued at approximately $31,728,387.68. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Eduardo Vivas sold 229,200 shares of the firm’s stock in a transaction dated Friday, August 16th. The shares were sold at an average price of $86.35, for a total transaction of $19,791,420.00. Following the transaction, the director now directly owns 7,412,475 shares in the company, valued at $640,067,216.25. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 610,094 shares of company stock worth $51,022,478 over the last quarter. Insiders own 14.69% of the company’s stock.

AppLovin Company Profile

AppLovin Corporation engages in building a software-based platform for advertisers to enhance the marketing and monetization of their content in the United States and internationally. It operates through two segments, Software Platform and Apps. The company's software solutions include AppDiscovery, a marketing software solution, which 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 running a real-time competitive auction; Adjust, a measurement and analytics marketing platform that provides marketers with the visibility, insights, and tools needed to grow their apps from early stage to maturity; and Wurl, a connected TV platform, which distributes streaming video for content companies and provides advertising and publishing solutions through its AdPool, ContentDiscovery, and Global FAST Pass products.