AppLovin (NASDAQ:APP) Announces Earnings Results

AppLovin (NASDAQ:APP) released its earnings results on Wednesday. The company reported $0.89 EPS for the quarter, topping analysts’ consensus estimates of $0.77 by $0.12, Briefing.com reports. AppLovin had a net margin of 16.46% and a return on equity of 51.55%. The firm had revenue of $1.08 billion during the quarter, compared to analyst estimates of $1.08 billion. During the same quarter in the previous year, the business earned $0.22 EPS. The business’s quarterly revenue was up 44.0% compared to the same quarter last year. AppLovin updated its Q3 2024 guidance to EPS.

AppLovin Price Performance

NASDAQ:APP traded up $0.65 on Friday, hitting $77.38. The company had a trading volume of 4,907,309 shares, compared to its average volume of 4,142,467. The stock has a market capitalization of $25.46 billion, a price-to-earnings ratio of 46.06, a PEG ratio of 1.27 and a beta of 1.86. The company has a current ratio of 2.11, a quick ratio of 2.11 and a debt-to-equity ratio of 4.59. The firm has a 50 day moving average of $80.00 and a two-hundred day moving average of $71.13. AppLovin has a 52 week low of $33.17 and a 52 week high of $91.91.

Analyst Ratings Changes

Several brokerages have recently issued reports on APP. Daiwa Capital Markets began coverage on shares of AppLovin in a report on Monday, April 15th. They issued a “neutral” rating and a $80.00 price target for the company. Morgan Stanley boosted their price target on shares of AppLovin from $55.00 to $70.00 and gave the company an “equal weight” rating in a report on Tuesday, April 16th. BTIG Research boosted their price target on shares of AppLovin from $87.00 to $100.00 and gave the company a “buy” rating in a report on Thursday, May 9th. Wedbush decreased their price target on shares of AppLovin from $100.00 to $90.00 and set an “outperform” rating for the company in a report on Thursday. Finally, Citigroup boosted their price objective on shares of AppLovin from $80.00 to $98.00 and gave the company a “buy” rating in a research report on Friday, May 10th. 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 MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $71.60.

Insider Activity at AppLovin

In related news, CMO Katie Kihorany Jansen sold 12,755 shares of the stock in a transaction that occurred on Thursday, May 23rd. The shares were sold at an average price of $79.01, for a total value of $1,007,772.55. Following the completion of the transaction, the chief marketing officer now owns 1,236,703 shares of the company’s stock, valued at approximately $97,711,904.03. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. In other news, CMO Katie Kihorany Jansen sold 12,755 shares of the firm’s stock in a transaction on Thursday, May 23rd. The shares were sold at an average price of $79.01, for a total transaction of $1,007,772.55. Following the completion of the transaction, the chief marketing officer now owns 1,236,703 shares of the company’s stock, valued at $97,711,904.03. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Dawson Alyssa Harvey sold 4,371 shares of the stock in a transaction on Thursday, June 13th. The stock was sold at an average price of $75.65, for a total transaction of $330,666.15. Following the sale, the director now owns 11,565 shares of the company’s stock, valued at $874,892.25. 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 quarter. Insiders own 14.69% 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.