Q2 2024 Earnings Estimate for AppLovin Co. Issued By Wedbush (NASDAQ:APP)

AppLovin Co. (NASDAQ:APP) – Equities researchers at Wedbush lowered their Q2 2024 EPS estimates for AppLovin in a research note issued to investors on Thursday, April 11th. Wedbush analyst N. Mckay now forecasts that the company will earn $0.53 per share for the quarter, down from their prior estimate of $0.54. Wedbush currently has a “Outperform” rating and a $87.00 target price on the stock. The consensus estimate for AppLovin’s current full-year earnings is $2.47 per share. Wedbush also issued estimates for AppLovin’s Q3 2024 earnings at $53.00 EPS, Q4 2024 earnings at $0.55 EPS, FY2024 earnings at $2.15 EPS, Q1 2025 earnings at $49.00 EPS, Q2 2025 earnings at $0.50 EPS, Q3 2025 earnings at $0.50 EPS, Q4 2025 earnings at $0.52 EPS and FY2025 earnings at $2.01 EPS.

AppLovin (NASDAQ:APP) last posted its earnings results on Wednesday, February 14th. The company reported $0.49 EPS for the quarter, topping the consensus estimate of $0.35 by $0.14. The firm had revenue of $953.26 million for the quarter, compared to the consensus estimate of $928.66 million. AppLovin had a net margin of 10.84% and a return on equity of 24.69%. The business’s quarterly revenue was up 35.7% on a year-over-year basis. During the same period in the prior year, the business posted ($0.21) earnings per share.

Other equities research analysts have also recently issued research reports about the stock. Oppenheimer increased their target price on shares of AppLovin from $70.00 to $85.00 and gave the company an “outperform” rating in a research note on Monday, April 8th. Daiwa Capital Markets initiated coverage on shares of AppLovin in a research note on Monday. They issued a “neutral” rating and a $80.00 target price for the company. BTIG Research increased their target price on shares of AppLovin from $65.00 to $87.00 and gave the company a “buy” rating in a research note on Tuesday, April 9th. UBS Group increased their target price on shares of AppLovin from $46.00 to $55.00 and gave the company a “neutral” rating in a research note on Thursday, February 15th. Finally, The Goldman Sachs Group increased their target price on shares of AppLovin from $59.00 to $73.00 and gave the company a “buy” rating in a research note on Thursday, February 15th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and twelve have issued a buy rating to the company. Based on data from MarketBeat, AppLovin presently has an average rating of “Moderate Buy” and an average target price of $59.31.

AppLovin Stock Up 1.2 %

APP stock opened at $72.32 on Monday. The company has a debt-to-equity ratio of 2.31, a current ratio of 1.71 and a quick ratio of 1.71. AppLovin has a 52-week low of $15.41 and a 52-week high of $79.55. The company has a 50-day moving average of $63.94 and a two-hundred day moving average of $48.44. The stock has a market capitalization of $24.73 billion, a price-to-earnings ratio of 72.32, a price-to-earnings-growth ratio of 1.53 and a beta of 1.90.

Institutional Investors Weigh In On AppLovin

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. DeDora Capital Inc. increased its stake in AppLovin by 1.8% in the 1st quarter. DeDora Capital Inc. now owns 9,596 shares of the company’s stock valued at $664,000 after buying an additional 166 shares during the last quarter. Wealth Enhancement Advisory Services LLC increased its stake in shares of AppLovin by 39.4% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 68,563 shares of the company’s stock worth $4,746,000 after purchasing an additional 19,381 shares during the last quarter. Sunbelt Securities Inc. acquired a new position in shares of AppLovin during the 1st quarter worth about $146,000. Atlas Capital Advisors LLC acquired a new position in shares of AppLovin during the 1st quarter worth about $38,000. Finally, Annex Advisory Services LLC acquired a new position in shares of AppLovin during the 1st quarter worth about $11,645,000. 41.85% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at AppLovin

In other news, Director Craig Scott Billings sold 5,550 shares of AppLovin stock in a transaction on Tuesday, February 20th. The shares were sold at an average price of $58.33, for a total transaction of $323,731.50. Following the transaction, the director now directly owns 12,739 shares of the company’s stock, valued at $743,065.87. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. In related news, Director Craig Scott Billings sold 5,550 shares of the business’s stock in a transaction on Tuesday, February 20th. The shares were sold at an average price of $58.33, for a total value of $323,731.50. Following the sale, the director now directly owns 12,739 shares of the company’s stock, valued at approximately $743,065.87. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Victoria Valenzuela sold 50,000 shares of the business’s stock in a transaction on Thursday, April 4th. The shares were 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 $35,371,715.60. The disclosure for this sale can be found here. Insiders have sold a total of 61,215 shares of company stock valued at $4,416,815 over the last three months. 12.43% of the stock is currently owned by corporate insiders.

About AppLovin

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.