Q2 2024 Earnings Estimate for AppLovin Co. Issued By Wedbush (NASDAQ:APP)

AppLovin Co. (NASDAQ:APP) – Research analysts at Wedbush dropped their Q2 2024 earnings estimates for shares of AppLovin in a research report issued on Thursday, April 11th. Wedbush analyst N. Mckay now anticipates that the company will earn $0.53 per share for the quarter, down from their previous estimate of $0.54. Wedbush has a “Outperform” rating and a $87.00 price objective on the stock. The consensus estimate for AppLovin’s current full-year earnings is $2.47 per share. Wedbush also issued estimates for AppLovin’s Q3 2024 earnings at $53.00 EPS, Q4 2024 earnings at $0.55 EPS, FY2024 earnings at $2.15 EPS, Q1 2025 earnings at $49.00 EPS, Q2 2025 earnings at $0.50 EPS, Q3 2025 earnings at $0.50 EPS, Q4 2025 earnings at $0.52 EPS and FY2025 earnings at $2.01 EPS.

AppLovin (NASDAQ:APP) last posted its earnings results on Wednesday, February 14th. The company reported $0.49 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.35 by $0.14. The business had revenue of $953.26 million for the quarter, compared to analysts’ expectations of $928.66 million. AppLovin had a net margin of 10.84% and a return on equity of 24.69%. The business’s revenue for the quarter was up 35.7% compared to the same quarter last year. During the same quarter in the prior year, the business earned ($0.21) EPS.

Other equities analysts have also recently issued research reports about the stock. Oppenheimer increased their price objective on shares of AppLovin from $70.00 to $85.00 and gave the stock an “outperform” rating in a research note on Monday, April 8th. Daiwa Capital Markets assumed coverage on shares of AppLovin in a report on Monday. They issued a “neutral” rating and a $80.00 price objective on the stock. UBS Group raised their price objective on shares of AppLovin from $46.00 to $55.00 and gave the stock a “neutral” rating in a report on Thursday, February 15th. The Goldman Sachs Group raised their price objective on shares of AppLovin from $59.00 to $73.00 and gave the stock a “buy” rating in a report on Thursday, February 15th. Finally, TheStreet raised shares of AppLovin from a “d+” rating to a “c-” rating in a report on Friday, March 8th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and twelve have given a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $59.31.

AppLovin Price Performance

APP opened at $72.32 on Monday. The company has a debt-to-equity ratio of 2.31, a quick ratio of 1.71 and a current ratio of 1.71. The stock has a market capitalization of $24.73 billion, a P/E ratio of 72.32, a P/E/G ratio of 1.53 and a beta of 1.90. The company’s 50-day simple moving average is $63.94 and its two-hundred day simple moving average is $48.44. AppLovin has a 52-week low of $15.41 and a 52-week high of $79.55.

Institutional Investors Weigh In On AppLovin

Several large investors have recently bought and sold shares of APP. Vanguard Group Inc. boosted its stake in AppLovin by 8.5% during the third quarter. Vanguard Group Inc. now owns 18,099,233 shares of the company’s stock worth $723,245,000 after buying an additional 1,411,453 shares during the period. BlackRock Inc. boosted its stake in AppLovin by 2.4% during the second quarter. BlackRock Inc. now owns 8,335,764 shares of the company’s stock worth $214,479,000 after buying an additional 195,030 shares during the period. Spruce House Investment Management LLC boosted its stake in AppLovin by 33.7% during the fourth quarter. Spruce House Investment Management LLC now owns 5,000,000 shares of the company’s stock worth $52,650,000 after buying an additional 1,259,199 shares during the period. Sapient Capital LLC purchased a new position in AppLovin during the fourth quarter worth $165,057,000. Finally, First Trust Advisors LP boosted its stake in shares of AppLovin by 3.7% during the first quarter. First Trust Advisors LP now owns 4,040,013 shares of the company’s stock valued at $63,630,000 after purchasing an additional 144,035 shares during the period. Institutional investors own 41.85% of the company’s stock.

Insider Activity

In other news, insider Victoria Valenzuela sold 50,000 shares of AppLovin stock in a transaction that occurred on Thursday, April 4th. The shares were sold at an average price of $75.01, for a total transaction of $3,750,500.00. Following the sale, the insider now owns 471,560 shares in the company, valued at $35,371,715.60. The transaction was disclosed in a document filed with the SEC, which is available at this link. In related news, Director Craig Scott Billings sold 5,550 shares of the business’s stock in a transaction on Tuesday, February 20th. The shares were sold at an average price of $58.33, for a total value of $323,731.50. Following the sale, the director now owns 12,739 shares in the company, valued at $743,065.87. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Victoria Valenzuela sold 50,000 shares of the business’s stock in a transaction on Thursday, April 4th. The stock was sold at an average price of $75.01, for a total transaction of $3,750,500.00. Following the completion of the sale, the insider now owns 471,560 shares in the company, valued at approximately $35,371,715.60. The disclosure for this sale can be found here. Insiders have sold a total of 61,215 shares of company stock worth $4,416,815 over the last quarter. Insiders own 12.43% of the company’s stock.

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.