AppLovin (NASDAQ:APP) Releases Earnings Results, Beats Expectations By $0.33 EPS

AppLovin (NASDAQ:APP) posted its earnings results on Wednesday. The company reported $1.25 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.92 by $0.33, Zacks reports. The company had revenue of $1.20 billion during the quarter, compared to analysts’ expectations of $1.13 billion. AppLovin had a net margin of 20.89% and a return on equity of 84.16%. AppLovin’s quarterly revenue was up 38.6% compared to the same quarter last year. During the same quarter last year, the company posted $0.30 EPS. AppLovin updated its Q4 2024 guidance to EPS.

AppLovin Trading Up 17.6 %

Shares of NASDAQ:APP traded up $43.48 during mid-day trading on Friday, reaching $290.01. 15,031,876 shares of the company were exchanged, compared to its average volume of 4,260,833. 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 firm’s 50-day simple moving average is $139.27 and its 200 day simple moving average is $101.08. The firm has a market cap of $96.94 billion, a price-to-earnings ratio of 123.41, a P/E/G ratio of 2.29 and a beta of 1.86.

Insider Transactions at AppLovin

In other AppLovin 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 sale, the director now directly owns 10,247 shares in the company, valued at $900,711.30. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other news, Director Dawson Alyssa Harvey sold 1,500 shares of AppLovin stock in a transaction 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 completion of the sale, 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 position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CMO Katie Kihorany Jansen sold 72,307 shares of the company’s stock in a transaction dated 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 transaction, the chief marketing officer now directly owns 1,164,396 shares of the company’s stock, valued at approximately $88,121,489.28. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 610,094 shares of company stock worth $51,022,478 over the last ninety days. Company insiders own 14.69% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on APP. Loop Capital started coverage on shares of AppLovin in a research report on Tuesday, October 22nd. They set a “buy” rating and a $181.00 price objective for the company. Jefferies Financial Group upped their price target on shares of AppLovin from $105.00 to $108.00 and gave the stock a “buy” rating in a report on Tuesday, September 10th. Wells Fargo & Company began coverage on shares of AppLovin in a report on Monday, October 28th. They set an “overweight” rating and a $200.00 price target for the company. Citigroup raised their price objective on AppLovin from $155.00 to $185.00 and gave the company a “buy” rating in a research report on Tuesday, October 22nd. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of AppLovin in a report on Thursday. One equities research analyst has rated the stock with a sell rating, four have given a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $182.31.

About AppLovin

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.