AppLovin (NASDAQ:APP) Posts Earnings Results, Beats Expectations By $0.10 EPS

AppLovin (NASDAQ:APP) posted its earnings results on Wednesday. The company reported $0.67 EPS for the quarter, beating the consensus estimate 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 analysts’ expectations of $973.70 million. During the same period last year, the firm earned ($0.01) EPS. The firm’s revenue was up 47.9% compared to the same quarter last year. AppLovin updated its Q2 2024 guidance to EPS.

AppLovin Trading Up 14.4 %

NASDAQ APP opened at $84.69 on Friday. The company has a market capitalization of $27.90 billion, a PE ratio of 84.69, a P/E/G ratio of 1.48 and a beta of 1.85. The stock has a 50-day simple moving average of $70.10 and a 200 day simple moving average of $52.20. The company has a current ratio of 1.71, a quick ratio of 1.71 and a debt-to-equity ratio of 2.31. AppLovin has a 12 month low of $17.57 and a 12 month high of $88.50.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on APP. TheStreet raised AppLovin from a “d+” rating to a “c-” rating in a research report on Friday, March 8th. Jefferies Financial Group boosted their price objective on AppLovin from $93.00 to $105.00 and gave the stock a “buy” rating in a research report on Thursday. Stifel Nicolaus raised their price target on shares of AppLovin from $85.00 to $98.00 and gave the stock a “buy” rating in a research report on Thursday. The Goldman Sachs Group increased their target price on shares of AppLovin from $73.00 to $100.00 and gave the company a “buy” rating in a research note on Thursday. Finally, Needham & Company LLC reiterated a “hold” rating on shares of AppLovin in a research report on Thursday. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and twelve have given a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $68.89.

Insider Transactions at AppLovin

In other news, Director Craig Scott Billings sold 5,550 shares of the company’s stock in a transaction dated Tuesday, February 20th. The stock was sold at an average price of $58.33, for a total transaction of $323,731.50. Following the completion of the transaction, the director now directly owns 12,739 shares of the company’s stock, valued at $743,065.87. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other AppLovin news, Director Craig Scott Billings sold 5,550 shares of the business’s stock in a transaction dated Tuesday, February 20th. The shares were sold at an average price of $58.33, for a total transaction 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, insider Victoria Valenzuela sold 50,000 shares of the stock in a transaction that occurred on Thursday, April 4th. The shares were sold at an average price of $75.01, for a total value of $3,750,500.00. Following the transaction, the insider now directly owns 471,560 shares of the company’s stock, 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. 14.69% of the stock is currently owned by corporate 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.