In yesterday’s Wall Street session, Applovin Corp (NASDAQ:APP) shares traded at $321.19, up 7.78% from the previous session.
APP stock price is now 91.11% away from the 50-day moving average and 226.81% away from the 200-day moving average. The market capitalization of the company currently stands at $107.79B.
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With the price target enhanced from $80 to $280, Daiwa Securities Upgraded its rating from Neutral to Outperform for Applovin Corp (NASDAQ: APP). On October 29, 2024, Wells Fargo recently initiated its ‘Overweight’ rating on the stock quoting a target price of $200, while ‘Loop Capital’ rates the stock as ‘Buy’
In other news, Jansen Katie Kihorany, Chief Marketing Officer sold 59,876 shares of the company’s stock on Nov 12 ’24. The stock was sold for $17,132,855 at an average price of $286.14. Upon completion of the transaction, the Chief Marketing Officer now directly owns 1,017,388 shares in the company, valued at $326.77 million. An SEC document containing details of the transaction can be found on the SEC’s website. On Nov 13 ’24, Chief Marketing Officer Jansen Katie Kihorany sold 59,876 shares of the business’s stock. A total of $17,131,990 was realized by selling the stock at an average price of $286.12. This leaves the insider owning 957,512 shares of the company worth $307.54 million. A total of 38.88% of the company’s stock is owned by insiders.
During the past 12 months, Applovin Corp has had a low of $35.79 and a high of $302.55. As of last week, the company has a debt-to-equity ratio of 3.74, a current ratio of 2.41, and a quick ratio of 2.41. According to the stock market information, the enterprise value for the company is $110731157504, which is based on a 97.18 price-to-earnings ratio, a 3.60 price-to-earnings-growth ratio, and a beta of 2.03. The fifty day moving average price for APP is $163.3695 and a two-hundred day moving average price translates $96.9003 for the stock.
The latest earnings results from Applovin Corp (NASDAQ: APP) was released for 2024-09-30. The net profit margin was 26.82% and return on equity was 113.12% for APP. The company reported revenue of $1.2 billion for the quarter, compared to $864.26 million a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue rose 38.64 percent.
