AppLovin (APP) Set to Announce Quarterly Earnings on Wednesday

AppLovin (NASDAQ:APP) is set to announce its earnings results after the market closes on Wednesday, May 8th. Analysts expect the company to announce earnings of $0.56 per share for the quarter. AppLovin has set its Q1 2024 guidance at EPS.Individual that are interested in participating in the company’s earnings conference call can do so using this link.

AppLovin (NASDAQ:APP) last released its quarterly earnings data on Wednesday, February 14th. The company reported $0.49 EPS for the quarter, topping the consensus estimate of $0.35 by $0.14. AppLovin had a return on equity of 24.69% and a net margin of 10.84%. The firm had revenue of $953.26 million for the quarter, compared to the consensus estimate of $928.66 million. During the same quarter in the previous year, the business earned ($0.21) earnings per share. The company’s quarterly revenue was up 35.7% on a year-over-year basis. On average, analysts expect AppLovin to post $3 EPS for the current fiscal year and $3 EPS for the next fiscal year.

AppLovin Stock Up 3.6 %

Shares of AppLovin stock opened at $75.07 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. AppLovin has a 52-week low of $16.56 and a 52-week high of $79.55. The company’s 50 day moving average price is $68.59 and its 200-day moving average price is $51.27. The stock has a market capitalization of $25.67 billion, a price-to-earnings ratio of 75.07, a P/E/G ratio of 1.49 and a beta of 1.85.

Insider Buying and Selling at AppLovin

In other news, Director Craig Scott Billings sold 5,550 shares of the company’s stock in a transaction dated Tuesday, February 20th. The shares were sold at an average price of $58.33, for a total transaction of $323,731.50. Following the sale, the director now directly owns 12,739 shares in the company, valued at approximately $743,065.87. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, Director Craig Scott Billings sold 5,550 shares of the 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 of the company’s stock, valued at $743,065.87. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Victoria Valenzuela sold 50,000 shares of AppLovin stock in a transaction dated 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 transaction, the insider now directly owns 471,560 shares of the company’s stock, valued at $35,371,715.60. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 61,215 shares of company stock worth $4,416,815. Insiders own 12.43% of the company’s stock.

Analyst Ratings Changes

Several analysts have weighed in on APP shares. UBS Group lifted their price objective on AppLovin from $46.00 to $55.00 and gave the company a “neutral” rating in a research report on Thursday, February 15th. The Goldman Sachs Group raised their target price on shares of AppLovin from $59.00 to $73.00 and gave the company a “buy” rating in a research note on Thursday, February 15th. Wedbush lifted their price objective on AppLovin from $67.00 to $87.00 and gave the company an “outperform” rating in a research note on Thursday, April 11th. BTIG Research increased their price objective on shares of AppLovin from $65.00 to $87.00 and gave the company a “buy” rating in a research report on Tuesday, April 9th. Finally, TheStreet upgraded shares of AppLovin from a “d+” rating to a “c-” rating in a research note on Friday, March 8th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and twelve have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, AppLovin presently has an average rating of “Moderate Buy” and a consensus target price of $63.60.

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.