AppLovin (NASDAQ:APP) Issues Quarterly Earnings Results, Beats Estimates By $0.33 EPS

AppLovin (NASDAQ:APP) released its earnings results on Wednesday. The company reported $1.25 EPS for the quarter, beating analysts’ consensus estimates of $0.92 by $0.33, Zacks reports. The company had revenue of $1.20 billion during the quarter, compared to the consensus estimate of $1.13 billion. AppLovin had a return on equity of 84.16% and a net margin of 20.89%. AppLovin’s quarterly revenue was up 38.6% compared to the same quarter last year. During the same quarter last year, the company earned $0.30 earnings per share. AppLovin updated its Q4 2024 guidance to EPS.

AppLovin Stock Performance

Shares of NASDAQ APP traded up $43.48 during midday trading on Friday, reaching $290.01. 15,031,876 shares of the company were exchanged, compared to its average volume of 4,260,833. The stock has a fifty day simple moving average of $139.27 and a 200 day simple moving average of $101.08. AppLovin has a 1 year low of $35.79 and a 1 year high of $292.86. The company has a current ratio of 2.28, a quick ratio of 2.28 and a debt-to-equity ratio of 4.27. The stock has a market cap of $96.94 billion, a P/E ratio of 123.41, a PEG ratio of 2.29 and a beta of 1.86.

Insider Activity

In other AppLovin news, CMO Katie Kihorany Jansen sold 72,307 shares of AppLovin stock in a transaction dated Monday, August 12th. The stock was sold at an average price of $75.68, for a total value of $5,472,193.76. Following the completion of the sale, the chief marketing officer now owns 1,164,396 shares in the company, valued at $88,121,489.28. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other AppLovin news, CMO Katie Kihorany Jansen sold 72,307 shares of the firm’s stock in a transaction on Monday, August 12th. The shares were sold at an average price of $75.68, for a total transaction of $5,472,193.76. Following the completion of the transaction, the chief marketing officer now directly owns 1,164,396 shares of the company’s stock, valued at $88,121,489.28. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Dawson Alyssa Harvey sold 1,500 shares of the firm’s stock in a transaction dated Tuesday, September 10th. The stock was sold at an average price of $87.90, for a total transaction of $131,850.00. Following the completion of the transaction, the director now owns 10,247 shares in the company, valued at approximately $900,711.30. The trade was a 0.00 % decrease in their ownership of the stock. 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 over the last quarter. Corporate insiders own 14.69% of the company’s stock.

Wall Street Analysts Forecast Growth

APP has been the subject of a number of analyst reports. Citigroup upped their price objective on shares of AppLovin from $155.00 to $185.00 and gave the company a “buy” rating in a research report on Tuesday, October 22nd. Bank of America raised their price target on AppLovin from $100.00 to $120.00 and gave the stock a “buy” rating in a research note on Wednesday, September 11th. Stifel Nicolaus raised their target price on AppLovin from $185.00 to $250.00 and gave the company a “buy” rating in a report on Thursday. Macquarie upped their target price on AppLovin from $150.00 to $270.00 and gave the company an “outperform” rating in a research note on Thursday. Finally, JPMorgan Chase & Co. lifted their target price on shares of AppLovin from $160.00 to $200.00 and gave the company a “neutral” rating in a research note on Thursday. One analyst has rated the stock with a sell rating, four have assigned a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $182.31.

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.