Wedbush Weighs in on AppLovin’s Q3 Earnings (NASDAQ:APP)

AppLovin Co. (NASDAQ:APP) – Equities researchers at Wedbush issued their Q3 2024 earnings per share estimates for shares of AppLovin in a report issued on Monday, November 4th. Wedbush analyst M. Pachter expects that the company will earn $0.92 per share for the quarter. Wedbush has a “Strong-Buy” rating 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 $0.95 EPS, FY2024 earnings at $3.44 EPS, Q1 2025 earnings at $0.98 EPS, Q2 2025 earnings at $0.98 EPS, Q3 2025 earnings at $1.00 EPS, Q4 2025 earnings at $1.03 EPS, FY2025 earnings at $3.98 EPS, Q1 2026 earnings at $1.05 EPS, Q2 2026 earnings at $1.06 EPS, Q3 2026 earnings at $1.08 EPS and FY2026 earnings at $4.31 EPS.

A number of other brokerages have also weighed in on APP. JPMorgan Chase & Co. upped their target price on AppLovin from $57.00 to $160.00 and gave the stock a “neutral” rating in a research note on Tuesday, October 22nd. Oppenheimer upped 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. Stifel Nicolaus upped their target price on AppLovin from $100.00 to $185.00 and gave the stock a “buy” rating in a research note on Wednesday, October 23rd. Citigroup upped their target price on AppLovin from $155.00 to $185.00 and gave the stock a “buy” rating in a research note on Tuesday, October 22nd. Finally, Wells Fargo & Company assumed coverage on AppLovin in a research note on Monday, October 28th. They issued an “overweight” rating and a $200.00 target price on the stock. One equities research analyst has rated the stock with a sell rating, five have given a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $136.78.

AppLovin Stock Performance

Shares of APP opened at $165.18 on Wednesday. The stock’s 50-day simple moving average is $129.12 and its 200 day simple moving average is $97.33. The stock has a market capitalization of $55.21 billion, a price-to-earnings ratio of 70.29, a price-to-earnings-growth ratio of 2.36 and a beta of 1.86. The company has a debt-to-equity ratio of 4.27, a quick ratio of 2.28 and a current ratio of 2.28. AppLovin has a 52-week low of $35.79 and a 52-week high of $174.46.

AppLovin (NASDAQ:APP) last issued its quarterly earnings data on Wednesday, August 7th. The company reported $0.89 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.77 by $0.12. The business had revenue of $1.08 billion for the quarter, compared to analysts’ expectations of $1.08 billion. AppLovin had a return on equity of 84.16% and a net margin of 20.89%. The firm’s quarterly revenue was up 44.0% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.22 EPS.

Insider Activity at AppLovin

In related news, CMO Katie Kihorany Jansen sold 72,307 shares of the stock in a transaction dated 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 completion of the sale, the chief marketing officer now directly owns 1,164,396 shares in the company, valued at $88,121,489.28. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. In other AppLovin news, CFO Matthew Stumpf sold 60,615 shares of the stock in a transaction that occurred on Tuesday, August 13th. The stock was 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 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 transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CMO Katie Kihorany Jansen sold 72,307 shares of the stock in a transaction that occurred on Monday, August 12th. The stock was sold at an average price of $75.68, for a total value of $5,472,193.76. Following the completion of the sale, the chief marketing officer now owns 1,164,396 shares of the company’s stock, valued at approximately $88,121,489.28. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 610,094 shares of company stock worth $51,022,478 in the last ninety days. 14.69% of the stock is owned by company insiders.

Institutional Investors Weigh In On AppLovin

Institutional investors and hedge funds have recently bought and sold shares of the business. Mitsubishi UFJ Trust & Banking Corp lifted its holdings in AppLovin by 9,470.1% in the 1st quarter. Mitsubishi UFJ Trust & Banking Corp now owns 250,641 shares of the company’s stock worth $17,336,000 after buying an additional 248,022 shares during the period. Acadian Asset Management LLC lifted its holdings in AppLovin by 2,081.4% in the 1st quarter. Acadian Asset Management LLC now owns 16,339 shares of the company’s stock worth $1,127,000 after buying an additional 15,590 shares during the period. Janney Montgomery Scott LLC lifted its holdings in AppLovin by 167.0% in the 1st quarter. Janney Montgomery Scott LLC now owns 16,146 shares of the company’s stock worth $1,118,000 after buying an additional 10,099 shares during the period. Clearbridge Investments LLC lifted its stake in shares of AppLovin by 73.0% in the 2nd quarter. Clearbridge Investments LLC now owns 893,344 shares of the company’s stock valued at $74,344,000 after purchasing an additional 376,835 shares during the period. Finally, Smithbridge Asset Management Inc. DE bought a new stake in shares of AppLovin during the third quarter valued at approximately $7,086,000. Hedge funds and other 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.