AppLovin (NASDAQ:APP) Announces Quarterly Earnings Results

AppLovin (NASDAQ:APP) issued its quarterly earnings data on Wednesday. The company reported $0.67 earnings per share for the quarter, topping analysts’ consensus estimates of $0.57 by $0.10, Briefing.com reports. AppLovin had a return on equity of 24.69% and a net margin of 10.84%. The firm had revenue of $1.06 billion for the quarter, compared to analyst estimates of $973.70 million. During the same period last year, the company earned ($0.01) EPS. The business’s quarterly revenue was up 47.9% compared to the same quarter last year. AppLovin updated its Q2 2024 guidance to EPS.

AppLovin Stock Performance

APP stock traded up $12.54 on Thursday, hitting $86.54. The company had a trading volume of 8,843,509 shares, compared to its average volume of 4,092,014. The stock has a market cap of $28.51 billion, a price-to-earnings ratio of 87.87, a P/E/G ratio of 1.48 and a beta of 1.85. The company has a current ratio of 1.71, a quick ratio of 1.71 and a debt-to-equity ratio of 2.31. The stock’s 50-day simple moving average is $69.60 and its 200 day simple moving average is $51.97. AppLovin has a 12-month low of $17.57 and a 12-month high of $88.50.

Analyst Ratings Changes

Several equities research analysts have recently commented on APP shares. Daiwa Capital Markets initiated coverage on shares of AppLovin in a research report on Monday, April 15th. They issued a “neutral” rating and a $80.00 target price for the company. Oppenheimer increased their target price on AppLovin from $70.00 to $85.00 and gave the stock an “outperform” rating in a research report on Monday, April 8th. Needham & Company LLC reiterated a “hold” rating on shares of AppLovin in a report on Thursday. Morgan Stanley boosted their target price on shares of AppLovin from $55.00 to $70.00 and gave the company an “equal weight” rating in a report on Tuesday, April 16th. Finally, Stifel Nicolaus increased their price target on shares of AppLovin from $85.00 to $98.00 and gave the stock a “buy” rating in a research note on Thursday. One research analyst has rated the stock with a sell rating, five have issued a hold rating and twelve have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $67.48.

Insider Activity

In other AppLovin news, insider Victoria Valenzuela sold 50,000 shares of the business’s stock in a transaction dated Thursday, April 4th. The stock was sold at an average price of $75.01, for a total transaction of $3,750,500.00. Following the completion of the sale, the insider now directly owns 471,560 shares in the company, valued at approximately $35,371,715.60. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In other news, CFO Matthew Stumpf sold 2,775 shares of the company’s stock in a transaction on Thursday, March 14th. The stock was sold at an average price of $63.30, for a total value of $175,657.50. Following the completion of the sale, the chief financial officer now directly owns 362,264 shares in the company, valued at approximately $22,931,311.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Victoria Valenzuela sold 50,000 shares of the firm’s stock in a transaction on Thursday, April 4th. The stock was sold at an average price of $75.01, for a total value of $3,750,500.00. Following the completion of the transaction, the insider now directly owns 471,560 shares in the company, valued at $35,371,715.60. The disclosure for this sale can be found here. Insiders have sold 61,215 shares of company stock valued at $4,416,815 in the last ninety days. 14.69% of the stock is currently owned by company insiders.

AppLovin Company Profile

AppLovin Corporation engages in building a software-based platform for advertisers to enhance the marketing and monetization of their content in the United States and internationally. It operates through two segments, Software Platform and Apps. The company's software solutions include AppDiscovery, a marketing software solution, which matches advertiser demand with publisher supply through auctions; MAX, an in-app bidding software that optimizes the value of a publisher's advertising inventory by running a real-time competitive auction; Adjust, a measurement and analytics marketing platform that provides marketers with the visibility, insights, and tools needed to grow their apps from early stage to maturity; and Wurl, a connected TV platform, which distributes streaming video for content companies and provides advertising and publishing solutions through its AdPool, ContentDiscovery, and Global FAST Pass products.