AppLovin Co. (NASDAQ:APP) to Post Q4 2024 Earnings of $0.92 Per Share, William Blair Forecasts

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

APP has been the topic of a number of other research reports. Needham & Company LLC reaffirmed a “hold” rating on shares of AppLovin in a research report on Thursday, May 9th. The Goldman Sachs Group upped their price target on shares of AppLovin from $73.00 to $100.00 and gave the company a “buy” rating in a report on Thursday, May 9th. Daiwa Capital Markets assumed coverage on shares of AppLovin in a report on Monday, April 15th. They set a “neutral” rating and a $80.00 price objective on the stock. Stifel Nicolaus upped their target price on shares of AppLovin from $85.00 to $98.00 and gave the stock a “buy” rating in a research note on Thursday, May 9th. Finally, Citigroup lifted their price target on AppLovin from $80.00 to $98.00 and gave the company a “buy” rating in a research note on Friday, May 10th. One research analyst has rated the stock with a sell rating, four have given a hold rating and eleven have issued a buy rating to the company. According to data from MarketBeat, AppLovin presently has an average rating of “Moderate Buy” and a consensus price target of $74.95.

AppLovin Stock Performance

APP stock opened at $77.38 on Friday. AppLovin has a 1-year low of $33.17 and a 1-year high of $91.91. 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 market cap 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 business’s 50-day moving average price is $80.00 and its two-hundred day moving average price is $71.31.

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

Insider Activity

In other AppLovin news, major shareholder Kkr Group Partnership L.P. sold 17,500,000 shares of the company’s stock in a transaction on Monday, May 13th. The shares were sold at an average price of $83.36, for a total transaction of $1,458,800,000.00. Following the sale, the insider now directly owns 366,567 shares of the company’s stock, valued at $30,557,025.12. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other AppLovin news, major shareholder Kkr Group Partnership L.P. sold 17,500,000 shares of the business’s stock in a transaction that occurred on Monday, May 13th. The stock was sold at an average price of $83.36, for a total transaction of $1,458,800,000.00. Following the transaction, the insider now owns 366,567 shares of the company’s stock, valued at $30,557,025.12. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, Director Craig Scott Billings sold 5,620 shares of the firm’s stock in a transaction that occurred on Monday, May 13th. The shares were sold at an average price of $84.97, for a total value of $477,531.40. Following the completion of the sale, the director now directly owns 1,780 shares of the company’s stock, valued at $151,246.60. The disclosure for this sale can be found here. In the last 90 days, insiders sold 17,709,742 shares of company stock valued at $1,477,073,771. 14.69% of the stock is owned by insiders.

Hedge Funds Weigh In On AppLovin

Several large investors have recently modified their holdings of the stock. American Trust raised its holdings in AppLovin by 2.8% in the 1st quarter. American Trust now owns 5,550 shares of the company’s stock valued at $384,000 after acquiring an additional 150 shares during the period. Highland Capital Management LLC increased its stake in shares of AppLovin by 0.5% during the first quarter. Highland Capital Management LLC now owns 28,120 shares of the company’s stock worth $1,946,000 after purchasing an additional 153 shares during the period. GAMMA Investing LLC lifted its holdings in AppLovin by 13.6% during the 1st quarter. GAMMA Investing LLC now owns 1,285 shares of the company’s stock worth $89,000 after purchasing an additional 154 shares during the last quarter. DeDora Capital Inc. boosted 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 purchasing an additional 166 shares during the period. Finally, Cullen Frost Bankers Inc. grew its holdings in AppLovin by 10.3% in the 2nd quarter. Cullen Frost Bankers Inc. now owns 2,205 shares of the company’s stock valued at $184,000 after buying an additional 205 shares in the last quarter. 41.85% of the stock is owned by institutional investors.

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.