Wedbush Has Optimistic Outlook of AppLovin FY2024 Earnings

AppLovin Co. (NASDAQ:APP) – Stock analysts at Wedbush raised their FY2024 EPS estimates for AppLovin in a research report issued on Thursday, November 7th. Wedbush analyst M. Pachter now forecasts that the company will post earnings per share of $4.08 for the year, up from their previous estimate of $3.44. Wedbush currently has a “Outperform” rating and a $270.00 price target on the stock. The consensus estimate for AppLovin’s current full-year earnings is $3.98 per share. Wedbush also issued estimates for AppLovin’s Q4 2024 earnings at $1.27 EPS, Q1 2025 earnings at $1.33 EPS, Q2 2025 earnings at $1.37 EPS, Q3 2025 earnings at $1.42 EPS, Q4 2025 earnings at $1.48 EPS, FY2025 earnings at $5.60 EPS, Q1 2026 earnings at $1.55 EPS, Q2 2026 earnings at $1.60 EPS, Q3 2026 earnings at $1.66 EPS and FY2026 earnings at $6.53 EPS.

AppLovin (NASDAQ:APP) last released its earnings results on Wednesday, November 6th. The company reported $1.25 earnings per share for the quarter, beating the consensus estimate of $0.92 by $0.33. AppLovin had a net margin of 26.85% and a return on equity of 122.24%. The business had revenue of $1.20 billion during the quarter, compared to analysts’ expectations of $1.13 billion. During the same period last year, the business earned $0.30 earnings per share. The firm’s revenue was up 38.6% on a year-over-year basis.

Several other research firms have also recently weighed in on APP. Citigroup raised their target price on shares of AppLovin from $155.00 to $185.00 and gave the company a “buy” rating in a research note on Tuesday, October 22nd. Bank of America raised their price target on AppLovin from $100.00 to $120.00 and gave the company a “buy” rating in a report on Wednesday, September 11th. Benchmark reaffirmed a “sell” rating and set a $66.00 price target on shares of AppLovin in a report on Thursday, November 7th. Stifel Nicolaus raised their price target on AppLovin from $185.00 to $250.00 and gave the company a “buy” rating in a report on Thursday, November 7th. Finally, Oppenheimer raised their price target on AppLovin from $180.00 to $260.00 and gave the company an “outperform” rating in a report on Thursday, November 7th. One analyst has rated the stock with a sell rating, four have given a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $194.31.

AppLovin Price Performance

NASDAQ:APP opened at $289.03 on Monday. AppLovin has a 1-year low of $35.79 and a 1-year high of $292.86. The company has a current ratio of 2.41, a quick ratio of 2.28 and a debt-to-equity ratio of 3.70. The firm has a fifty day simple moving average of $143.14 and a 200 day simple moving average of $103.05. The stock has a market capitalization of $96.61 billion, a PE ratio of 87.59, a P/E/G ratio of 4.18 and a beta of 1.86.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of APP. Centaurus Financial Inc. grew its position in AppLovin by 1.9% in the third quarter. Centaurus Financial Inc. now owns 26,604 shares of the company’s stock valued at $3,473,000 after acquiring an additional 500 shares during the last quarter. Alpha DNA Investment Management LLC bought a new position in AppLovin in the third quarter valued at about $785,000. Larson Financial Group LLC grew its position in AppLovin by 9,300.0% in the third quarter. Larson Financial Group LLC now owns 470 shares of the company’s stock valued at $61,000 after acquiring an additional 465 shares during the last quarter. Swedbank AB grew its position in AppLovin by 24.7% in the third quarter. Swedbank AB now owns 96,455 shares of the company’s stock valued at $12,592,000 after acquiring an additional 19,100 shares during the last quarter. Finally, WESPAC Advisors LLC bought a new position in AppLovin in the third quarter valued at about $1,035,000. Institutional investors and hedge funds own 41.85% of the company’s stock.

Insider Transactions at AppLovin

In related news, Director Dawson Alyssa Harvey sold 1,500 shares of the business’s stock in a transaction dated Tuesday, September 10th. The stock was sold at an average price of $87.90, for a total value of $131,850.00. Following the completion of the transaction, the director now owns 10,247 shares of the company’s stock, valued at $900,711.30. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In related news, Director Eduardo Vivas sold 229,200 shares of the business’s stock in a transaction dated Friday, August 16th. The stock was sold at an average price of $86.35, for a total value of $19,791,420.00. Following the completion of the transaction, the director now owns 7,412,475 shares of the company’s stock, valued at $640,067,216.25. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Dawson Alyssa Harvey sold 1,500 shares of the business’s stock in a transaction dated Tuesday, September 10th. The shares were sold at an average price of $87.90, for a total value of $131,850.00. Following the completion of the transaction, the director now directly owns 10,247 shares of the company’s stock, valued at approximately $900,711.30. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 404,866 shares of company stock valued at $34,670,777. 14.69% of the stock is currently owned by corporate insiders.

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.