What is Wedbush’s Forecast for AppLovin FY2024 Earnings?

AppLovin Co. (NASDAQ:APP) – Equities researchers at Wedbush increased their FY2024 EPS estimates for AppLovin in a report issued on Thursday, November 7th. Wedbush analyst M. Pachter now expects that the company will post earnings of $4.08 per share for the year, up from their prior estimate of $3.44. Wedbush currently has a “Outperform” rating and a $270.00 price objective on the stock. The consensus estimate for AppLovin’s current full-year earnings is $3.47 per share. Wedbush also issued estimates for AppLovin’s Q4 2024 earnings at $1.27 EPS, Q1 2025 earnings at $1.33 EPS, Q2 2025 earnings at $1.37 EPS, Q3 2025 earnings at $1.42 EPS, Q4 2025 earnings at $1.48 EPS, FY2025 earnings at $5.60 EPS, Q1 2026 earnings at $1.55 EPS, Q2 2026 earnings at $1.60 EPS, Q3 2026 earnings at $1.66 EPS and FY2026 earnings at $6.53 EPS.

AppLovin (NASDAQ:APP) last released its quarterly earnings data on Wednesday, November 6th. The company reported $1.25 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.92 by $0.33. AppLovin had a net margin of 26.85% and a return on equity of 122.06%. The firm had revenue of $1.20 billion for the quarter, compared to analysts’ expectations of $1.13 billion. During the same quarter in the previous year, the company earned $0.30 earnings per share. The company’s revenue for the quarter was up 38.6% compared to the same quarter last year.

Other equities analysts have also recently issued research reports about the stock. Oppenheimer boosted their price target on shares of AppLovin from $180.00 to $260.00 and gave the company an “outperform” rating in a research report on Thursday. Jefferies Financial Group upped their price objective on shares of AppLovin from $105.00 to $108.00 and gave the stock a “buy” rating in a report on Tuesday, September 10th. BTIG Research upped their price objective on shares of AppLovin from $202.00 to $291.00 and gave the stock a “buy” rating in a report on Thursday. UBS Group upgraded shares of AppLovin from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $100.00 to $145.00 in a report on Tuesday, September 17th. Finally, Macquarie upped their price objective on shares of AppLovin from $150.00 to $270.00 and gave the stock an “outperform” rating in a report on Thursday. One investment analyst has rated the stock with a sell rating, four have issued a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, AppLovin has a consensus rating of “Moderate Buy” and a consensus target price of $182.31.

AppLovin Price Performance

Shares of NASDAQ APP opened at $290.01 on Monday. AppLovin has a 1 year low of $35.79 and a 1 year high of $292.86. The company has a debt-to-equity ratio of 4.27, a current ratio of 2.28 and a quick ratio of 2.28. The company’s 50-day moving average is $139.27 and its 200 day moving average is $101.52. The stock has a market capitalization of $96.94 billion, a P/E ratio of 87.88, a P/E/G ratio of 2.43 and a beta of 1.86.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in APP. Capital Performance Advisors LLP purchased a new stake in AppLovin during the third quarter valued at approximately $25,000. DT Investment Partners LLC purchased a new stake in AppLovin during the third quarter valued at approximately $27,000. Meeder Asset Management Inc. purchased a new stake in AppLovin during the third quarter valued at approximately $27,000. Raleigh Capital Management Inc. purchased a new stake in AppLovin during the third quarter valued at approximately $29,000. Finally, Quest Partners LLC purchased a new stake in AppLovin during the second quarter valued at approximately $33,000. Institutional investors own 41.85% of the company’s stock.

Insider Transactions at AppLovin

In related news, CFO Matthew Stumpf sold 60,615 shares of the stock in a transaction that occurred on Tuesday, August 13th. The shares were sold at an average price of $79.63, for a total transaction of $4,826,772.45. Following the transaction, the chief financial officer now owns 254,458 shares in the company, valued at $20,262,490.54. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In related news, Director Dawson Alyssa Harvey sold 1,500 shares of the stock in a transaction that occurred on Tuesday, September 10th. The shares were sold at an average price of $87.90, for a total transaction of $131,850.00. Following the transaction, the director now owns 10,247 shares in the company, valued at $900,711.30. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Matthew Stumpf sold 60,615 shares of the stock in a transaction that occurred on Tuesday, August 13th. The shares were sold at an average price of $79.63, for a total transaction of $4,826,772.45. Following the transaction, the chief financial officer now owns 254,458 shares in the company, valued at approximately $20,262,490.54. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 537,787 shares of company stock worth $45,550,284. Corporate insiders own 14.69% of the company’s stock.

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.