In yesterday’s Wall Street session, AppLovin Corporation (NASDAQ:APP) shares traded at $13.36, up 5.20% from the previous session.
As of this writing, 23 analysts cover AppLovin Corporation (NASDAQ:APP). The consensus rating among analysts is ‘Overweight’. As we calculate the median target price by taking the range between a high of $57.00 and a low of $7.00, we find $20.00. Given the previous closing price of $12.70, this indicates a potential upside of 57.48 percent. APP stock price is now 16.96% away from the 50-day moving average and -47.37% away from the 200-day moving average. The market capitalization of the company currently stands at $4.69B.
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There are 6 analysts who have given it a hold rating, whereas 14 have given it a buy rating. Brokers who have rated the stock have averaged $21.55 as their price target over the next twelve months.
With the price target of $7, The Benchmark Company recently initiated with Sell rating for AppLovin Corporation (NASDAQ: APP)., while ‘Jefferies’ rates the stock as ‘Hold’.
In other news, Foroughi Arash Adam, CEO & Chairperson sold 373,668 shares of the company’s stock on Dec 12. The stock was sold for $3,947,018 at an average price of $10.56. Upon completion of the transaction, the CEO & Chairperson now directly owns 0 shares in the company, valued at $0.0. An SEC document containing details of the transaction can be found on the SEC’s website. On Dec 09, CEO & Chairperson Foroughi Arash Adam sold 373,667 shares of the business’s stock. A total of $3,878,477 was realized by selling the stock at an average price of $10.38. This leaves the insider owning 877,223 shares of the company worth $11.72 million. Insiders disposed of 5,661,292 shares of company stock worth roughly $75.63 million over the past 1 year. A total of 4.30% of the company’s stock is owned by insiders.
There have been several recent changes in the stakes of large investors in APP stock. A new stake in AppLovin Corporation shares was purchased by TIGER GLOBAL MANAGEMENT LLC during the first quarter worth $66,437,000. AQR CAPITAL MANAGEMENT LLC invested $7,967,000 in shares of APP during the first quarter. In the first quarter, INVENOMIC CAPITAL MANAGEMENT LP acquired a new stake in AppLovin Corporation valued at approximately $4,935,000. ALYESKA INVESTMENT GROUP, L.P. acquired a new stake in APP for approximately $4,008,000. TWO SIGMA INVESTMENTS, LP purchased a new stake in APP valued at around $3,954,000 in the second quarter. In total, there are 347 active investors with 49.30% ownership of the company’s stock.
Wednesday morning saw AppLovin Corporation (NASDAQ: APP) opened at $12.76. During the past 12 months, AppLovin Corporation has had a low of $9.14 and a high of $76.38. As of last week, the company has a debt-to-equity ratio of 1.71, a current ratio of 3.40, and a quick ratio of 3.40. The fifty day moving average price for APP is $11.42 and a two-hundred day moving average price translates $25.39 for the stock.
The latest earnings results from AppLovin Corporation (NASDAQ: APP) was released for Jun, 2022. According to the Software – Application Company, earnings per share came in at -$0.06, missing analysts’ expectations of $0.18 by -0.24. This compares to $0.00 EPS in the same period last year. The net profit margin was -7.90% and return on equity was -11.50% for APP. The company reported revenue of $713.1 million for the quarter, compared to $726.95 million a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue fell -1.91 percent. For the current quarter, analysts expect APP to generate $741.35M in revenue.
AppLovin Corporation(APP) Company Profile
AppLovin Corporation engages in building a software-based platform for mobile app developers to enhance the marketing and monetization of their apps in the United States and internationally. The company’s software solutions include AppDiscovery, a marketing software solution, which matches advertiser demand with publisher supply through auctions; Adjust, an analytics platform that helps marketers grow their mobile apps with solutions for measuring, optimizing campaigns, and protecting user data; and MAX, an in-app bidding software that optimizes the value of an app’s advertising inventory by running a real-time competitive auction. Its business clients include various advertisers, publishers, internet platforms, and others. The company was incorporated in 2011 and is headquartered in Palo Alto, California.
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