AppLovin (NASDAQ:APP) Posts Earnings Results, Beats Expectations By $0.33 EPS

by · The Markets Daily

AppLovin (NASDAQ:APP – Get Free Report) issued its quarterly earnings results on Wednesday. The company reported $1.25 earnings per share for the quarter, topping the consensus estimate of $0.92 by $0.33, Zacks reports. AppLovin had a return on equity of 84.16% and a net margin of 20.89%. The business had revenue of $1.20 billion during the quarter, compared to the consensus estimate of $1.13 billion. During the same quarter last year, the company earned $0.30 earnings per share. The company’s quarterly revenue was up 38.6% on a year-over-year basis. AppLovin updated its Q4 2024 guidance to EPS.

AppLovin Trading Up 17.6 %

Shares of APP traded up $43.48 during midday trading on Friday, reaching $290.01. The company had a trading volume of 15,031,876 shares, compared to its average volume of 4,260,833. The firm has a 50 day simple moving average of $139.27 and a 200-day simple moving average of $101.08. The company has a quick ratio of 2.28, a current ratio of 2.28 and a debt-to-equity ratio of 4.27. The stock has a market cap of $96.94 billion, a PE ratio of 123.41, a price-to-earnings-growth ratio of 2.29 and a beta of 1.86. AppLovin has a 1-year low of $35.79 and a 1-year high of $292.86.

Wall Street Analyst Weigh In

APP has been the subject of a number of research analyst reports. Daiwa Capital Markets upgraded shares of AppLovin from a “neutral” rating to an “outperform” rating and lifted their price objective for the stock from $80.00 to $280.00 in a research note on Friday. Wedbush reaffirmed an “outperform” rating and set a $270.00 price target (up previously from $170.00) on shares of AppLovin in a research report on Thursday. Bank of America increased their price objective on AppLovin from $100.00 to $120.00 and gave the company a “buy” rating in a report on Wednesday, September 11th. Daiwa America raised AppLovin from a “hold” rating to a “strong-buy” rating in a report on Friday. Finally, Loop Capital initiated coverage on shares of AppLovin in a report on Tuesday, October 22nd. They issued a “buy” rating and a $181.00 price target on the stock. One research analyst has rated the stock with a sell rating, four have issued a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $182.31.

Check Out Our Latest Report on AppLovin

Insider Buying and Selling at AppLovin

In other AppLovin news, insider Victoria Valenzuela sold 14,166 shares of AppLovin stock in a transaction on Thursday, August 22nd. The stock was sold at an average price of $89.98, for a total value of $1,274,656.68. Following the sale, the insider now owns 352,616 shares in the company, valued at $31,728,387.68. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In related news, CFO Matthew Stumpf sold 60,615 shares of the stock in a transaction dated Tuesday, August 13th. The stock was sold at an average price of $79.63, for a total transaction of $4,826,772.45. Following the transaction, the chief financial officer now owns 254,458 shares of the company’s stock, valued at approximately $20,262,490.54. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Victoria Valenzuela sold 14,166 shares of AppLovin stock in a transaction dated Thursday, August 22nd. The shares were sold at an average price of $89.98, for a total value of $1,274,656.68. Following the completion of the transaction, the insider now directly owns 352,616 shares of the company’s stock, valued at approximately $31,728,387.68. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 610,094 shares of company stock worth $51,022,478 in the last ninety days. 14.69% of the stock is owned by insiders.

AppLovin Company Profile

(Get Free Report)

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.

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