What is Wedbush’s Forecast for AppLovin FY2024 Earnings?

AppLovin Co. (NASDAQ:APP) – Wedbush upped their FY2024 EPS estimates for AppLovin in a report released on Thursday, November 7th. Wedbush analyst M. Pachter now forecasts that the company will earn $4.08 per share for the year, up from their prior forecast of $3.44. Wedbush currently has a “Outperform” rating and a $270.00 target price 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.

APP has been the subject of several other reports. Daiwa Capital Markets raised shares of AppLovin from a “neutral” rating to an “outperform” rating and raised their target price for the company from $80.00 to $280.00 in a research note on Friday. Citigroup raised their target price on shares of AppLovin from $155.00 to $185.00 and gave the company a “buy” rating in a research note on Tuesday, October 22nd. Bank of America raised their target price on shares of AppLovin from $100.00 to $120.00 and gave the company a “buy” rating in a research note on Wednesday, September 11th. BTIG Research raised their target price on shares of AppLovin from $202.00 to $291.00 and gave the company a “buy” rating in a research note on Thursday. Finally, Wells Fargo & Company initiated coverage on shares of AppLovin in a research note on Monday, October 28th. They set an “overweight” rating and a $200.00 target price for the company. One research analyst has rated the stock with a sell rating, four have given a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $182.31.

AppLovin Stock Performance

Shares of NASDAQ APP opened at $290.01 on Monday. The stock has a market cap of $96.94 billion, a PE ratio of 87.88, a price-to-earnings-growth ratio of 2.43 and a beta of 1.86. The firm has a fifty day moving average price of $139.27 and a 200-day moving average price of $101.52. 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.

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

Insider Transactions at AppLovin

In other news, Director Dawson Alyssa Harvey sold 1,500 shares of the firm’s stock in a transaction dated Tuesday, September 10th. The shares were sold at an average price of $87.90, for a total value of $131,850.00. Following the completion of the sale, the director now owns 10,247 shares in the company, valued at approximately $900,711.30. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, Director Eduardo Vivas sold 229,200 shares of the firm’s stock in a transaction dated Friday, August 16th. The shares were sold at an average price of $86.35, for a total value of $19,791,420.00. Following the completion of the sale, the director now owns 7,412,475 shares in the company, valued at approximately $640,067,216.25. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Dawson Alyssa Harvey sold 1,500 shares of AppLovin stock in a transaction dated Tuesday, September 10th. The shares were sold at an average price of $87.90, for a total transaction of $131,850.00. Following the sale, the director now owns 10,247 shares of the company’s stock, valued at $900,711.30. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 537,787 shares of company stock worth $45,550,284. 14.69% of the stock is currently owned by insiders.

Institutional Investors Weigh In On AppLovin

A number of institutional investors and hedge funds have recently added to or reduced their stakes in APP. Fred Alger Management LLC bought a new stake in AppLovin during the 2nd quarter valued at about $290,655,000. Whale Rock Capital Management LLC bought a new stake in AppLovin during the 1st quarter valued at about $195,129,000. Jericho Capital Asset Management L.P. lifted its holdings in AppLovin by 185.0% during the 1st quarter. Jericho Capital Asset Management L.P. now owns 3,890,567 shares of the company’s stock valued at $269,305,000 after buying an additional 2,525,240 shares in the last quarter. 1832 Asset Management L.P. lifted its holdings in AppLovin by 977.2% during the 2nd quarter. 1832 Asset Management L.P. now owns 1,496,300 shares of the company’s stock valued at $124,522,000 after buying an additional 1,357,400 shares in the last quarter. Finally, WCM Investment Management LLC lifted its holdings in AppLovin by 10.5% during the 3rd quarter. WCM Investment Management LLC now owns 10,820,409 shares of the company’s stock valued at $1,382,307,000 after buying an additional 1,029,009 shares in the last quarter. Institutional investors own 41.85% 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.