AppLovin (APP) Set to Announce Quarterly Earnings on Wednesday

AppLovin (NYSE:APP – Get Rating) is set to announce its earnings results after the market closes on Wednesday, May 11th. Analysts expect the company to announce earnings of ($0.11) per share for the quarter. AppLovin has set its FY 2022 guidance at EPS.Investors that wish to register for the company’s conference call can do so using this link.

AppLovin (NYSE:APP – Get Rating) last posted its quarterly earnings results on Wednesday, February 16th. The company reported $0.08 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.11 by ($0.03). AppLovin had a return on equity of 2.43% and a net margin of 1.23%. The firm had revenue of $793.00 million for the quarter, compared to analysts’ expectations of $776.38 million. The firm’s revenue was up 55.6% on a year-over-year basis. On average, analysts expect AppLovin to post $0 EPS for the current fiscal year and $1 EPS for the next fiscal year.

APP opened at $39.77 on Wednesday. AppLovin has a fifty-two week low of $36.60 and a fifty-two week high of $116.09. The business has a 50-day moving average of $50.21 and a 200-day moving average of $73.31. The company has a debt-to-equity ratio of 1.50, a current ratio of 5.05 and a quick ratio of 5.05. The company has a market capitalization of $14.88 billion and a PE ratio of 568.22.

A number of equities research analysts have recently weighed in on APP shares. Bank of America started coverage on AppLovin in a research note on Monday, January 31st. They set a “neutral” rating and a $70.00 price target for the company. The Goldman Sachs Group began coverage on AppLovin in a research note on Tuesday, April 19th. They set a “buy” rating and a $68.00 price target for the company. Credit Suisse Group cut their price objective on AppLovin from $128.00 to $112.00 in a research note on Thursday, February 17th. Zacks Investment Research downgraded AppLovin from a “hold” rating to a “strong sell” rating in a research note on Tuesday, April 19th. Finally, Cannonball Research began coverage on AppLovin in a research note on Monday, January 10th. They issued a “buy” rating and a $107.00 price objective on the stock. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and fifteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus price target of $98.06.

In other news, CTO Vasily Shikin sold 22,500 shares of AppLovin stock in a transaction that occurred on Wednesday, March 2nd. The stock was sold at an average price of $58.26, for a total transaction of $1,310,850.00. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CMO Katie Kihorany Jansen sold 17,000 shares of AppLovin stock in a transaction that occurred on Tuesday, February 22nd. The stock was sold at an average price of $58.71, for a total value of $998,070.00. The disclosure for this sale can be found here.

Several large investors have recently made changes to their positions in APP. BlackRock Inc. grew its holdings in shares of AppLovin by 22.5% during the 4th quarter. BlackRock Inc. now owns 4,927,590 shares of the company’s stock worth $464,475,000 after purchasing an additional 903,470 shares in the last quarter. GAM Holding AG acquired a new stake in AppLovin in the 4th quarter valued at $25,292,000. Millennium Management LLC boosted its stake in AppLovin by 3,426.7% in the 4th quarter. Millennium Management LLC now owns 227,896 shares of the company’s stock valued at $21,481,000 after buying an additional 221,434 shares in the last quarter. Morgan Stanley boosted its stake in AppLovin by 462.3% in the 3rd quarter. Morgan Stanley now owns 61,827 shares of the company’s stock valued at $4,474,000 after buying an additional 50,832 shares in the last quarter. Finally, Legal & General Group Plc boosted its stake in AppLovin by 510.5% in the 4th quarter. Legal & General Group Plc now owns 23,097 shares of the company’s stock valued at $2,177,000 after buying an additional 19,314 shares in the last quarter. 43.30% of the stock is currently owned by institutional investors.

AppLovin Company Profile (Get Rating)

AppLovin Corporation engages in building a software-based platform for mobile app developers to enhance the marketing and monetization of their apps in the United States and internationally. The company's software solutions include AppDiscovery, a marketing software solution, which matches advertiser demand with publisher supply through auctions; Adjust, an analytics platform that helps marketers grow their mobile apps with solutions for measuring, optimizing campaigns, and protecting user data; and MAX, an in-app bidding software that optimizes the value of an app's advertising inventory by running a real-time competitive auction.

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