AppLovin (APP) Set to Announce Quarterly Earnings on Wednesday

AppLovin (NASDAQ:APP) will be announcing its earnings results after the market closes on Wednesday, November 6th. Analysts expect the company to announce earnings of $0.96 per share for the quarter. AppLovin has set its Q3 2024 guidance at EPS.Individual that are interested in registering for the company’s earnings conference call can do so using this link.

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 return on equity of 84.16% and a net margin of 20.89%. The firm had revenue of $1.08 billion for the quarter, compared to analyst estimates of $1.08 billion. During the same period in the previous year, the company posted $0.22 earnings per share. The company’s revenue for the quarter was up 44.0% on a year-over-year basis. On average, analysts expect AppLovin to post $3 EPS for the current fiscal year and $4 EPS for the next fiscal year.

AppLovin Stock Up 3.6 %

Shares of AppLovin stock opened at $172.24 on Wednesday. AppLovin has a 1 year low of $35.79 and a 1 year high of $172.55. The company has a debt-to-equity ratio of 4.27, a current ratio of 2.28 and a quick ratio of 2.28. The company has a market capitalization of $56.67 billion, a P/E ratio of 102.52, a price-to-earnings-growth ratio of 2.07 and a beta of 1.92. The business has a 50-day moving average of $123.04 and a two-hundred day moving average of $94.65.

Insider Buying and Selling at AppLovin

In related news, CFO Matthew Stumpf sold 60,615 shares of the firm’s stock in a transaction dated Tuesday, August 13th. The shares were sold at an average price of $79.63, for a total transaction of $4,826,772.45. Following the transaction, the chief financial officer now directly owns 254,458 shares of the company’s stock, valued at approximately $20,262,490.54. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, insider Victoria Valenzuela sold 14,166 shares of the company’s stock in a transaction on Thursday, August 22nd. The stock was sold at an average price of $89.98, for a total transaction of $1,274,656.68. Following the completion of the sale, the insider now directly owns 352,616 shares in the company, valued at approximately $31,728,387.68. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CFO Matthew Stumpf sold 60,615 shares of the firm’s stock in a transaction on Tuesday, August 13th. The stock was sold at an average price of $79.63, for a total value of $4,826,772.45. Following the completion of the transaction, the chief financial officer now owns 254,458 shares in the company, valued at $20,262,490.54. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 610,094 shares of company stock valued at $51,022,478 in the last ninety days. 14.69% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

APP has been the topic of a number of research reports. Stifel Nicolaus boosted their price target on AppLovin from $100.00 to $185.00 and gave the company a “buy” rating in a report on Wednesday, October 23rd. Macquarie reaffirmed an “outperform” rating and set a $150.00 price target (up previously from $115.00) on shares of AppLovin in a research report on Wednesday, September 25th. The Goldman Sachs Group cut shares of AppLovin from a “buy” rating to a “neutral” rating and raised their price target for the stock from $103.00 to $150.00 in a research note on Monday, October 14th. Bank of America boosted their price objective on shares of AppLovin from $100.00 to $120.00 and gave the stock a “buy” rating in a research report on Wednesday, September 11th. Finally, Oppenheimer increased their target price on shares of AppLovin from $105.00 to $180.00 and gave the stock an “outperform” rating in a report on Wednesday, October 23rd. One investment analyst has rated the stock with a sell rating, five have given a hold rating and twelve have issued a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $133.72.

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.