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

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

AppLovin Stock Performance

APP traded up $43.48 during trading hours on Friday, hitting $290.01. The stock had a trading volume of 15,031,876 shares, compared to its average volume of 4,260,833. The stock has a market cap of $96.94 billion, a PE ratio of 123.41, a price-to-earnings-growth ratio of 2.29 and a beta of 1.86. AppLovin has a 1 year low of $35.79 and a 1 year high of $292.86. The company has a quick ratio of 2.28, a current ratio of 2.28 and a debt-to-equity ratio of 4.27. The company’s fifty day simple moving average is $139.27 and its 200 day simple moving average is $101.08.

Analysts Set New Price Targets

A number of analysts have recently commented on APP shares. Loop Capital initiated coverage on AppLovin in a research note on Tuesday, October 22nd. They set a “buy” rating and a $181.00 price target on the stock. Stifel Nicolaus lifted their price objective on AppLovin from $185.00 to $250.00 and gave the stock a “buy” rating in a research report on Thursday. Daiwa America raised shares of AppLovin from a “hold” rating to a “strong-buy” rating in a research note on Friday. BTIG Research raised their price objective on AppLovin from $202.00 to $291.00 and gave the company a “buy” rating in a research note on Thursday. Finally, Oppenheimer boosted their target price on shares of AppLovin from $180.00 to $260.00 and gave the stock an “outperform” rating in a research report on Thursday. One analyst has rated the stock with a sell rating, four have given a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, AppLovin presently has an average rating of “Moderate Buy” and a consensus price target of $182.31.

Insider Buying and Selling at AppLovin

In other news, Director Eduardo Vivas sold 229,200 shares of the firm’s stock in a transaction that occurred on Friday, August 16th. The shares were 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 directly owns 7,412,475 shares in the company, valued at approximately $640,067,216.25. 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 can be accessed through the SEC website. In other AppLovin news, Director Eduardo Vivas sold 229,200 shares of the business’s stock in a transaction that occurred on Friday, August 16th. The shares were 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 position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CMO Katie Kihorany Jansen sold 72,307 shares of the firm’s stock in a transaction dated Monday, August 12th. The shares were sold at an average price of $75.68, for a total value of $5,472,193.76. Following 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 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 three months. 14.69% of the stock is currently owned by insiders.

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.