AppLovin (APP) Set to Announce Earnings on Wednesday

AppLovin (NASDAQ:APP - Get Free Report) is set to issue its quarterly earnings data after the market closes on Wednesday, November 6th. Analysts expect the company to announce earnings of $0.96 per share for the quarter. AppLovin has set its Q3 2024 guidance at EPS.Investors interested in registering for the company's conference call can do so using this link.

AppLovin (NASDAQ:APP - Get Free Report) last posted its quarterly earnings results on Wednesday, August 7th. The company reported $0.89 earnings per share for the quarter, beating analysts' consensus estimates of $0.77 by $0.12. AppLovin had a return on equity of 84.16% and a net margin of 20.89%. The business had revenue of $1.08 billion for the quarter, compared to analysts' expectations of $1.08 billion. During the same quarter in the prior year, the business earned $0.22 EPS. The firm's revenue for the quarter was up 44.0% on a year-over-year basis. On average, analysts expect AppLovin to post $3 EPS for the current fiscal year and $4 EPS for the next fiscal year.

AppLovin Stock Performance

APP stock traded up $0.37 during midday trading on Wednesday, reaching $172.61. 1,799,781 shares of the company were exchanged, compared to its average volume of 4,139,632. The firm has a market capitalization of $57.69 billion, a price-to-earnings ratio of 73.65, a price-to-earnings-growth ratio of 2.07 and a beta of 1.92. The business has a 50-day moving average price of $123.04 and a two-hundred day moving average price of $94.65. AppLovin has a one year low of $35.79 and a one year high of $174.46. The company has a debt-to-equity ratio of 4.27, a current ratio of 2.28 and a quick ratio of 2.28.

Insiders Place Their Bets

In other AppLovin news, CMO Katie Kihorany Jansen sold 72,307 shares of the business's stock in a transaction on Monday, August 12th. The shares were sold at an average price of $75.68, for a total transaction of $5,472,193.76. Following the completion of the sale, the chief marketing officer now owns 1,164,396 shares in the company, valued at approximately $88,121,489.28. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In related news, CMO Katie Kihorany Jansen sold 72,307 shares of AppLovin stock in a transaction that occurred on Monday, August 12th. The stock was sold at an average price of $75.68, for a total transaction of $5,472,193.76. Following the transaction, the chief marketing officer now owns 1,164,396 shares of the company's stock, valued at $88,121,489.28. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Matthew Stumpf sold 60,615 shares of the stock in a transaction on Tuesday, August 13th. The shares were sold at an average price of $79.63, for a total value of $4,826,772.45. Following the completion of the sale, the chief financial officer now directly owns 254,458 shares of the company's stock, valued at $20,262,490.54. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 610,094 shares of company stock worth $51,022,478. Corporate insiders own 14.69% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research firms have commented on APP. The Goldman Sachs Group lowered AppLovin from a "buy" rating to a "neutral" rating and raised their price objective for the stock from $103.00 to $150.00 in a research note on Monday, October 14th. Wedbush decreased their target price on shares of AppLovin from $100.00 to $90.00 and set an "outperform" rating on the stock in a report on Thursday, August 8th. Stifel Nicolaus upped their price target on shares of AppLovin from $100.00 to $185.00 and gave the stock a "buy" rating in a report on Wednesday, October 23rd. Wells Fargo & Company assumed coverage on AppLovin in a report on Monday. They set an "overweight" rating and a $200.00 price target for the company. Finally, Oppenheimer boosted their target price on AppLovin from $105.00 to $180.00 and gave the stock an "outperform" rating in a research note on Wednesday, October 23rd. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and twelve have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $133.72.

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.