Does Applovin Corp (NASDAQ:APP) warrant a purchase right now? What to Consider Before Making a Decision

Applovin Corp (NASDAQ:APP) shares traded -1.10% lower at $39.68 on Wall Street last session.

In accordance with the data, 21 analysts cover Applovin Corp (NASDAQ:APP). The consensus rating among analysts is ‘Overweight’. As we calculate the median target price by taking the range between a high of $60.00 and a low of $28.00, we find $52.50. Given the previous closing price of $40.12, this indicates a potential upside of 30.86 percent. APP stock price is now -0.30% away from the 50-day moving average and 51.06% away from the 200-day moving average. The market capitalization of the company currently stands at $13.80B.

It has been rated a hold by 7 analysts and a buy by 13. Brokers who have rated the stock have averaged $49.34 as their price target over the next twelve months.

With the price target enhanced from $20 to $50, Jefferies Upgraded its rating from Hold to Buy for Applovin Corp (NASDAQ: APP).

In other news, Vivas Eduardo, Director sold 377,318 shares of the company’s stock on Sep 13. The stock was sold for $15,525,113 at an average price of $41.15. Upon completion of the transaction, the Director now directly owns 8,700,860 shares in the company, valued at $345.25 million. An SEC document containing details of the transaction can be found on the SEC’s website. On Sep 13, Director Vivas Eduardo sold 1,196 shares of the business’s stock. A total of $49,212 was realized by selling the stock at an average price of $41.15. This leaves the insider owning 124,136 shares of the company worth $4.93 million. Insiders disposed of 120,777,368 shares of company stock worth roughly $4.79 billion over the past 1 year. A total of 53.33% of the company’s stock is owned by insiders.

Applovin Corp (NASDAQ: APP) opened at $45.10 on Thursday. During the past 12 months, Applovin Corp has had a low of $9.14 and a high of $44.89. As of last week, the company has a debt-to-equity ratio of 2.15, a current ratio of 2.87, and a quick ratio of 2.87. The fifty day moving average price for APP is $39.80 and a two-hundred day moving average price translates $26.27 for the stock.

The latest earnings results from Applovin Corp (NASDAQ: APP) was released for Sep, 2023. According to the Software – Application Company, earnings per share came in at $0.22, beating analysts’ expectations of $0.07 by 0.15. This compares to $0.06 EPS in the same period last year. The net profit margin was 0.68% and return on equity was 1.15% for APP. The company reported revenue of $864.26 million for the quarter, compared to $713.1 million a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue rose 21.2 percent. For the current quarter, analysts expect APP to generate $797.95M in revenue.

Applovin Corp(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.

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