In yesterday’s Wall Street session, AppLovin Corporation (NASDAQ:APP) shares traded at $27.08, up 4.19% from the previous session.
23 analysts cover AppLovin Corporation (NASDAQ:APP), according to research data. The consensus rating among analysts is ‘Overweight’. As we calculate the median target price by taking the range between a high of $49.00 and a low of $14.00, we find $25.00. Given the previous closing price of $25.99, this indicates a potential downside of -3.81 percent. APP stock price is now 20.20% away from the 50-day moving average and 63.83% away from the 200-day moving average. The market capitalization of the company currently stands at $9.26B.
The stock has received a hold rating from 9 analysts and a buy rating from 13. Brokers who have rated the stock have averaged $25.55 as their price target over the next twelve months.
With the price target enhanced from $21 to $27, BofA Securities Upgraded its rating from Neutral to Buy for AppLovin Corporation (NASDAQ: APP).
In other news, Shikin Vasily, Chief Technology Officer sold 30,000 shares of the company’s stock on Jun 13. The stock was sold for $676,092 at an average price of $22.54. Upon completion of the transaction, the Chief Technology Officer now directly owns 8,672,832 shares in the company, valued at $234.86 million. An SEC document containing details of the transaction can be found on the SEC’s website. On Jun 13, Director Harvey Dawson Alyssa sold 5,188 shares of the business’s stock. A total of $117,819 was realized by selling the stock at an average price of $22.71. This leaves the insider owning 13,789 shares of the company worth $0.37 million. Insiders disposed of 68,930,818 shares of company stock worth roughly $1.87 billion 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 SVB WEALTH LLC during the first quarter worth $373,718,000. BOSTON PARTNERS invested $50,407,000 in shares of APP during the first quarter. In the first quarter, INCLINE GLOBAL MANAGEMENT LLC acquired a new stake in AppLovin Corporation valued at approximately $36,442,000. CONTRARIUS INVESTMENT MANAGEMENT LTD acquired a new stake in APP for approximately $17,254,000. THINK INVESTMENTS LP purchased a new stake in APP valued at around $16,981,000 in the second quarter. In total, there are 320 active investors with 49.30% ownership of the company’s stock.
On Monday morning AppLovin Corporation (NASDAQ: APP) stock kicked off with the opening price of $25.83. During the past 12 months, AppLovin Corporation has had a low of $9.14 and a high of $40.56. As of last week, the company has a debt-to-equity ratio of 1.70, a current ratio of 3.30, and a quick ratio of 3.30. The fifty day moving average price for APP is $22.75 and a two-hundred day moving average price translates $16.56 for the stock.
The latest earnings results from AppLovin Corporation (NASDAQ: APP) was released for Mar, 2023. According to the Software – Application Company, earnings per share came in at -$0.01, missing analysts’ expectations of $0.06 by -0.07. This compares to -$0.31 EPS in the same period last year. The company reported revenue of $715.4 million for the quarter, compared to $625.42 million a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue rose 14.39 percent. For the current quarter, analysts expect APP to generate $722.53M 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; MAX, an in-app bidding software that optimizes the value of an app’s advertising inventory by running a real-time competitive auction; and Wurl, a connected TV platform, which primarily distributes streaming video for content companies. Its business clients include various advertisers, internet platforms, and others. The company was incorporated in 2011 and is headquartered in Palo Alto, California.
