In yesterday’s Wall Street session, Applovin Corp (NASDAQ:APP) shares traded at $71.23, down -0.95% from the previous session.
APP stock price is now 34.64% away from the 50-day moving average and 77.92% away from the 200-day moving average. The market capitalization of the company currently stands at $24.36B.
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, Chen Herald Y, President & CFO sold 150,000 shares of the company’s stock on Mar 14 ’24. The stock was sold for $9,456,604 at an average price of $63.04. Upon completion of the transaction, the President & CFO now directly owns 62,418 shares in the company, valued at $4.45 million. An SEC document containing details of the transaction can be found on the SEC’s website. On Mar 14 ’24, Chief Financial Officer (CFO) Stumpf Matthew sold 2,775 shares of the business’s stock. A total of $175,658 was realized by selling the stock at an average price of $63.30. This leaves the insider owning 362,264 shares of the company worth $25.8 million. A total of 52.78% of the company’s stock is owned by insiders.
During the past 12 months, Applovin Corp has had a low of $13.69 and a high of $73.48. 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 $53.52 and a two-hundred day moving average price translates $40.27 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 $970.43M in revenue.
