AppLovin Co. Forecasted to Post Q4 2024 Earnings of $0.92 Per Share (NASDAQ:APP)

AppLovin Co. (NASDAQ:APP) – Research analysts at William Blair boosted their Q4 2024 EPS estimates for shares of AppLovin in a research note issued on Wednesday, August 7th. William Blair analyst R. Schackart now anticipates that the company will post earnings per share of $0.92 for the quarter, up from their prior estimate of $0.76. The consensus estimate for AppLovin’s current full-year earnings is $2.96 per share.

A number of other research firms have also recently weighed in on APP. Stifel Nicolaus increased their price objective on shares of AppLovin from $85.00 to $98.00 and gave the stock a “buy” rating in a report on Thursday, May 9th. Morgan Stanley boosted their price objective on AppLovin from $55.00 to $70.00 and gave the stock an “equal weight” rating in a research report on Tuesday, April 16th. Citigroup lifted their target price on AppLovin from $80.00 to $98.00 and gave the company a “buy” rating in a research note on Friday, May 10th. Needham & Company LLC reiterated a “hold” rating on shares of AppLovin in a research report on Thursday, May 9th. Finally, The Goldman Sachs Group raised their price target on AppLovin from $73.00 to $100.00 and gave the company a “buy” rating in a report on Thursday, May 9th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and eleven have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $74.95.

AppLovin Price Performance

Shares of NASDAQ APP opened at $77.38 on Friday. AppLovin has a 1-year low of $33.17 and a 1-year high of $91.91. The firm has a market capitalization of $25.46 billion, a PE ratio of 46.06, a P/E/G ratio of 1.27 and a beta of 1.86. The company has a debt-to-equity ratio of 4.59, a current ratio of 2.11 and a quick ratio of 2.11. The business’s fifty day moving average price is $80.00 and its two-hundred day moving average price is $71.31.

AppLovin (NASDAQ:APP) last issued its earnings results on Wednesday, August 7th. The company reported $0.89 EPS for the quarter, beating analysts’ consensus estimates of $0.77 by $0.12. The company had revenue of $1.08 billion during the quarter, compared to the consensus estimate of $1.08 billion. AppLovin had a return on equity of 51.55% and a net margin of 16.46%. AppLovin’s quarterly revenue was up 44.0% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.22 earnings per share.

Insider Transactions at AppLovin

In related news, major shareholder Kkr Group Partnership L.P. sold 17,500,000 shares of AppLovin stock in a transaction dated Monday, May 13th. The stock was sold at an average price of $83.36, for a total value of $1,458,800,000.00. Following the transaction, the insider now owns 366,567 shares of the company’s stock, valued at approximately $30,557,025.12. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other news, major shareholder Kkr Group Partnership L.P. sold 17,500,000 shares of the stock in a transaction on Monday, May 13th. The stock was sold at an average price of $83.36, for a total value of $1,458,800,000.00. Following the completion of the sale, the insider now owns 366,567 shares in the company, valued at $30,557,025.12. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Victoria Valenzuela sold 2,890 shares of the firm’s stock in a transaction dated Wednesday, May 22nd. The stock was sold at an average price of $81.37, for a total value of $235,159.30. Following the sale, the insider now owns 448,490 shares of the company’s stock, valued at $36,493,631.30. The disclosure for this sale can be found here. Insiders sold a total of 17,709,742 shares of company stock valued at $1,477,073,771 in the last three months. 14.69% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in APP. Mitsubishi UFJ Trust & Banking Corp grew its holdings in shares of AppLovin by 9,470.1% during the 1st quarter. Mitsubishi UFJ Trust & Banking Corp now owns 250,641 shares of the company’s stock valued at $17,336,000 after acquiring an additional 248,022 shares in the last quarter. Gulf International Bank UK Ltd purchased a new position in AppLovin in the first quarter valued at about $1,131,000. Acadian Asset Management LLC increased its position in AppLovin by 2,081.4% in the 1st quarter. Acadian Asset Management LLC now owns 16,339 shares of the company’s stock worth $1,127,000 after purchasing an additional 15,590 shares during the last quarter. Janney Montgomery Scott LLC increased its position in AppLovin by 167.0% in the 1st quarter. Janney Montgomery Scott LLC now owns 16,146 shares of the company’s stock worth $1,118,000 after purchasing an additional 10,099 shares during the last quarter. Finally, CWM LLC raised its stake in shares of AppLovin by 16.3% during the 4th quarter. CWM LLC now owns 2,864 shares of the company’s stock worth $114,000 after purchasing an additional 401 shares in the last quarter. Institutional investors and hedge funds own 41.85% of the company’s stock.

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.