Stocks of Applovin Corp (NASDAQ:APP) traded higher last session on Wall Street, up 0.16% to $63.19.
APP stock price is now 27.80% away from the 50-day moving average and 63.05% away from the 200-day moving average. The market capitalization of the company currently stands at $21.61B.
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With the price target of $53.20, HSBC Securities recently initiated with Buy rating for Applovin Corp (NASDAQ: APP). On August 22, 2023, Jefferies Upgraded its previous ‘Hold’ rating to ‘Buy’ on the stock increasing its target price from $20 to quote $50, while ‘BTIG Research’ rates the stock as ‘Buy’
In other news, Vivas Eduardo, Director sold 1,268 shares of the company’s stock on Mar 11 ’24. The stock was sold for $77,281 at an average price of $60.95. Upon completion of the transaction, the Director now directly owns 8,351,954 shares in the company, valued at $527.76 million. An SEC document containing details of the transaction can be found on the SEC’s website. On Mar 08 ’24, CLO & Corp. Secretary Valenzuela Victoria sold 25,000 shares of the business’s stock. A total of $1,625,000 was realized by selling the stock at an average price of $65.00. This leaves the insider owning 521,560 shares of the company worth $32.96 million. A total of 54.06% of the company’s stock is owned by insiders.
During the past 12 months, Applovin Corp has had a low of $12.36 and a high of $65.67. As of last week, the company has a debt-to-equity ratio of 2.66, a current ratio of 1.71, and a quick ratio of 1.71. The fifty day moving average price for APP is $49.93 and a two-hundred day moving average price translates $38.95 for the stock.
The latest earnings results from Applovin Corp (NASDAQ: APP) was released for Dec, 2023. According to the Software – Application Company, earnings per share came in at $0.49, beating analysts’ expectations of $0.35 by 0.14. This compares to -$0.21 EPS in the same period last year. The net profit margin was 10.81% and return on equity was 22.47% for APP. The company reported revenue of $953.26 million for the quarter, compared to $702.31 million a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue rose 35.73 percent. For the current quarter, analysts expect APP to generate $969.76M in revenue.
