AppLovin (APP) to Release Quarterly Earnings on Wednesday

AppLovin (NASDAQ:APP) is set to announce its earnings results after the market closes on Wednesday, May 8th. Analysts expect the company to announce earnings of $0.56 per share for the quarter. AppLovin has set its Q1 2024 guidance at EPS.Parties interested in participating in the company’s conference call can do so using this link.

AppLovin (NASDAQ:APP) last posted its earnings results on Wednesday, February 14th. The company reported $0.49 EPS for the quarter, topping the consensus estimate of $0.35 by $0.14. The company had revenue of $953.26 million during the quarter, compared to the consensus estimate of $928.66 million. AppLovin had a net margin of 10.84% and a return on equity of 24.69%. The company’s revenue for the quarter was up 35.7% compared to the same quarter last year. During the same period in the previous year, the firm posted ($0.21) earnings per share. On average, analysts expect AppLovin to post $3 EPS for the current fiscal year and $3 EPS for the next fiscal year.

AppLovin Stock Up 3.6 %

AppLovin stock opened at $75.07 on Monday. The company has a market capitalization of $25.67 billion, a P/E ratio of 75.07, a P/E/G ratio of 1.49 and a beta of 1.85. AppLovin has a 1-year low of $16.56 and a 1-year high of $79.55. The firm’s fifty day simple moving average is $68.59 and its 200-day simple moving average is $51.27. The company has a current ratio of 1.71, a quick ratio of 1.71 and a debt-to-equity ratio of 2.31.

Insider Buying and Selling at AppLovin

In related news, Director Craig Scott Billings sold 5,550 shares of the 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 completion of the sale, the director now owns 12,739 shares in the company, valued at approximately $743,065.87. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, Director Craig Scott Billings sold 5,550 shares of AppLovin stock in a transaction dated Tuesday, February 20th. The stock was sold at an average price of $58.33, for a total value 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 document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Victoria Valenzuela sold 2,890 shares of the firm’s stock in a transaction dated Thursday, February 22nd. The shares were sold at an average price of $57.76, for a total transaction of $166,926.40. Following the completion of the sale, the insider now owns 546,560 shares of the company’s stock, valued at approximately $31,569,305.60. The disclosure for this sale can be found here. Insiders have sold 61,215 shares of company stock worth $4,416,815 over the last three months. Company insiders own 12.43% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently weighed in on the company. Jefferies Financial Group began coverage on AppLovin in a research note on Thursday. They issued a “buy” rating and a $93.00 price objective on the stock. 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 target price on the stock. BTIG Research boosted their target price on shares of AppLovin from $65.00 to $87.00 and gave the stock a “buy” rating in a research report on Tuesday, April 9th. Oppenheimer lifted their price objective on AppLovin from $70.00 to $85.00 and gave the stock an “outperform” rating in a research note on Monday, April 8th. Finally, The Goldman Sachs Group boosted their price objective on AppLovin from $59.00 to $73.00 and gave the stock a “buy” rating in a research report on Thursday, February 15th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and twelve have issued a buy rating to the company. According to data from MarketBeat.com, AppLovin presently has an average rating of “Moderate Buy” and an average price target of $63.60.

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.