AppLovin Co. to Post Q2 2024 Earnings of $0.53 Per Share, Wedbush Forecasts (NASDAQ:APP)

AppLovin Co. (NASDAQ:APP) – Investment analysts at Wedbush lowered their Q2 2024 earnings estimates for AppLovin in a research note issued on Thursday, April 11th. Wedbush analyst N. Mckay now forecasts that the company will post earnings per share of $0.53 for the quarter, down from their prior estimate of $0.54. Wedbush has a “Outperform” rating and a $87.00 price objective 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 issued its quarterly earnings data on Wednesday, February 14th. The company reported $0.49 earnings per share for the quarter, topping analysts’ consensus estimates of $0.35 by $0.14. AppLovin had a net margin of 10.84% and a return on equity of 24.69%. The business had revenue of $953.26 million during the quarter, compared to analysts’ expectations of $928.66 million. During the same period last year, the company posted ($0.21) EPS. The company’s revenue was up 35.7% on a year-over-year basis.

Other equities analysts have also issued research reports about the stock. Oppenheimer lifted their target price on shares of AppLovin from $70.00 to $85.00 and gave the company an “outperform” rating in a report on Monday, April 8th. HSBC initiated coverage on shares of AppLovin in a report on Monday, December 18th. They set a “buy” rating and a $53.20 target price on the stock. BTIG Research lifted their target price on shares of AppLovin from $65.00 to $87.00 and gave the company a “buy” rating in a report on Tuesday, April 9th. UBS Group lifted their target price on shares of AppLovin from $46.00 to $55.00 and gave the company a “neutral” rating in a report on Thursday, February 15th. Finally, TheStreet upgraded shares of AppLovin from a “d+” rating to a “c-” rating in a report on Friday, March 8th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and twelve have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $56.36.

AppLovin Stock Down 3.4 %

APP stock opened at $75.57 on Monday. The stock has a market capitalization of $25.84 billion, a P/E ratio of 75.57, a PEG ratio of 1.52 and a beta of 1.90. The company has a debt-to-equity ratio of 2.31, a quick ratio of 1.71 and a current ratio of 1.71. AppLovin has a one year low of $15.41 and a one year high of $79.55. The company has a 50 day moving average price of $62.89 and a two-hundred day moving average price of $47.99.

Insider Transactions at AppLovin

In other news, insider Victoria Valenzuela sold 50,000 shares of the company’s stock in a transaction dated 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 transaction, the insider now owns 471,560 shares in the company, valued at $35,371,715.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, Director Craig Scott Billings sold 5,550 shares of the company’s stock in a transaction dated Tuesday, February 20th. The shares were sold at an average price of $58.33, for a total value of $323,731.50. Following the completion of the sale, the director now owns 12,739 shares of the company’s stock, valued at $743,065.87. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Victoria Valenzuela sold 50,000 shares of the company’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 of the company’s stock, valued at approximately $35,371,715.60. The disclosure for this sale can be found here. Over the last quarter, insiders sold 61,215 shares of company stock worth $4,416,815. Insiders own 12.43% of the company’s stock.

Institutional Trading of AppLovin

A number of hedge funds have recently bought and sold shares of the company. Annex Advisory Services LLC purchased a new stake in AppLovin during the first quarter valued at about $11,645,000. Steph & Co. purchased a new stake in AppLovin during the first quarter valued at about $92,000. FCF Advisors LLC purchased a new stake in AppLovin during the first quarter valued at about $3,127,000. Gulf International Bank UK Ltd purchased a new stake in AppLovin during the first quarter valued at about $1,131,000. Finally, Fulton Bank N.A. acquired a new position in shares of AppLovin in the 1st quarter valued at about $464,000. 41.85% of the stock is owned by hedge funds and other institutional investors.

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.