William Blair Analysts Raise Earnings Estimates for AppLovin

AppLovin Co. (NASDAQ:APP) – Investment analysts at William Blair raised their FY2024 earnings estimates for AppLovin in a research report issued to clients and investors on Wednesday, November 6th. William Blair analyst R. Schackart now expects that the company will earn $4.13 per share for the year, up from their prior estimate of $3.48. The consensus estimate for AppLovin’s current full-year earnings is $3.98 per share. William Blair also issued estimates for AppLovin’s Q4 2024 earnings at $1.32 EPS, Q1 2025 earnings at $1.37 EPS, Q2 2025 earnings at $1.39 EPS, Q3 2025 earnings at $1.59 EPS, Q4 2025 earnings at $1.66 EPS, FY2025 earnings at $6.01 EPS and FY2026 earnings at $7.63 EPS.

Several other analysts also recently weighed in on the stock. Citigroup lifted their price objective on shares of AppLovin from $155.00 to $185.00 and gave the company a “buy” rating in a research report on Tuesday, October 22nd. Wedbush restated an “outperform” rating and set a $270.00 price target (up from $170.00) on shares of AppLovin in a research report on Thursday, November 7th. Macquarie boosted their price target on shares of AppLovin from $150.00 to $270.00 and gave the stock an “outperform” rating in a research report on Thursday, November 7th. The Goldman Sachs Group downgraded shares of AppLovin from a “buy” rating to a “neutral” rating and boosted their price target for the stock from $103.00 to $150.00 in a research report on Monday, October 14th. Finally, UBS Group upgraded shares of AppLovin from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $100.00 to $145.00 in a research report on Tuesday, September 17th. One analyst has rated the stock with a sell rating, four have issued a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, AppLovin presently has an average rating of “Moderate Buy” and a consensus target price of $194.31.

AppLovin Trading Up 0.9 %

Shares of NASDAQ:APP opened at $289.03 on Monday. The company has a market cap of $96.61 billion, a PE ratio of 87.59, a P/E/G ratio of 4.18 and a beta of 1.86. The company’s 50-day moving average price is $143.14 and its 200 day moving average price is $103.05. AppLovin has a fifty-two week low of $35.79 and a fifty-two week high of $292.86. The company has a quick ratio of 2.28, a current ratio of 2.41 and a debt-to-equity ratio of 3.70.

AppLovin (NASDAQ:APP) last issued its earnings results on Wednesday, November 6th. The company reported $1.25 earnings per share for the quarter, topping analysts’ consensus estimates of $0.92 by $0.33. The company had revenue of $1.20 billion for the quarter, compared to analysts’ expectations of $1.13 billion. AppLovin had a net margin of 26.85% and a return on equity of 122.24%. The firm’s revenue was up 38.6% compared to the same quarter last year. During the same period in the prior year, the company earned $0.30 earnings per share.

Insider Transactions at AppLovin

In other news, insider Victoria Valenzuela sold 14,166 shares of AppLovin stock in a transaction that occurred on Thursday, August 22nd. The shares were sold at an average price of $89.98, for a total value of $1,274,656.68. Following the transaction, the insider now directly owns 352,616 shares of the company’s stock, valued at $31,728,387.68. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In related news, Director Dawson Alyssa Harvey sold 1,500 shares of the business’s 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 directly owns 10,247 shares of the company’s stock, valued at approximately $900,711.30. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Victoria Valenzuela sold 14,166 shares of the business’s stock in a transaction that occurred on Thursday, August 22nd. The shares were sold at an average price of $89.98, for a total transaction of $1,274,656.68. Following the transaction, the insider now directly owns 352,616 shares in the company, valued at $31,728,387.68. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 404,866 shares of company stock valued at $34,670,777 over the last ninety days. Corporate insiders own 14.69% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Janney Montgomery Scott LLC grew its position in AppLovin by 167.0% in the first quarter. Janney Montgomery Scott LLC now owns 16,146 shares of the company’s stock worth $1,118,000 after acquiring an additional 10,099 shares in the last quarter. Empowered Funds LLC bought a new stake in AppLovin in the first quarter worth approximately $1,235,000. SG Americas Securities LLC grew its position in AppLovin by 33.5% in the first quarter. SG Americas Securities LLC now owns 4,100 shares of the company’s stock worth $284,000 after acquiring an additional 1,028 shares in the last quarter. Oppenheimer & Co. Inc. grew its position in AppLovin by 93.4% in the first quarter. Oppenheimer & Co. Inc. now owns 25,968 shares of the company’s stock worth $1,798,000 after acquiring an additional 12,542 shares in the last quarter. Finally, PFG Advisors bought a new stake in AppLovin in the first quarter worth approximately $258,000. 41.85% of the stock is owned by hedge funds and other institutional investors.

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.