AppLovin Corporation (NASDAQ:APP) saw a downside of -0.46% to $11.93 after subtracting -$0.05 on Tuesday. The 5-day average trading volume is 1,850,185 shares of the company’s common stock. It has gained $12.19 in the past week and touched a new high 3 times within the past 5 days. An average of 2,616,026 shares of the company has been traded in the last 20 days, and the 50-day average volume stands at 3,592,970.
APP’s 1-month performance is 21.87% or $2.15 on its low of $9.14 reached on 12/28/22. The company’s shares have touched a 52-week low of $9.14 and high of $76.38, with the stock’s rally to the 52-week high happening on 01/24/23. YTD, APP has achieved 13.77% or $1.47 and has reached a new high 5 times. However, the current price is down -84.39% from the 52-week high price.
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APP stock investors last saw insider trading activity on Dec 12.Foroughi Arash Adam (CEO & Chairperson) most recently sold 373,668 shares at $10.56 per share on Dec 12. This transaction cost the insider $3,947,018. CEO & Chairperson, Foroughi Arash Adam, sold 373,667 shares at a price of $10.38 on Dec 09. Then, on Dec 08, CEO & Chairperson Foroughi Arash Adam sold 373,666 shares at a price of $10.55 per share. This transaction amounted to $3,941,093.
Moving on to other valuation ratios, the trailing price-to-sales (P/S) ratio is 1.42 while the price-to-book (PB) in the most recent quarter is 2.35, with the price to cash flow ratio at 19.09.
AppLovin Corporation’s quick ratio for the period ended September 29 was 3.40, with the current ratio over the same period at 3.40. As well, the company’s long term debt to equity for the quarter ending September 29 was 1.69, while the total debt to equity was 1.71. In terms of profitability, the gross margin trailing 12 months is 60.40%. The firm’s gross profit as reported stood at $1.81 billion against revenue of $2.79 billion.
For the quarterly period ending September 29 this year, Net income and sales went down compared to those figures reported in the previous quarter. Net income grew 99.24% to $23.65 million, while revenue of -$21.75 million was 191.97% off the previous quarter. Analysts expected APP to announce $0.07 per share in earnings in its latest quarter, but it posted $0.06, representing a -14.30% surprise. EBITDA for the quarter stood at more than $215.96 million. APP stock balance sheet for the quarter ending September 29 shows that total liabilities totaled 3.92 billion, with total debt at $3.29 billion. Shareholders hold equity totaling $371.69 million.
Let’s look briefly at AppLovin Corporation (APP) price momentum from a technical analysis perspective. The 9-day relative strength index as at close on 23 January was 68.10% to suggest the stock is trending Neutral, with historical volatility in this time period at 64.62%.
The stock’s 5-day moving average is $11.16, reflecting a +10.05% or $1.10 change from its current price. APP is currently trading +21.90% above its 20-day SMA, -51.02% above its 100-day SMA. However, the stock’s current price level is away from the SMA50 by -12.70% and SMA200 by-77.13%.
Stochastic %K and %D was 92.97% and 80.11% and the average true range (ATR) pointed at 0.69. The RSI (14) points at 59.39%, while the 14-day stochastic is at 93.45% with the period’s ATR at 0.72. The stock’s 9-day MACD Oscillator is pointing at 0.64 and 0.93 on the 14-day charts.
In the most recent analyst report for AppLovin Corporation (NASDAQ: APP), The Benchmark Company launched coverage with a Sell rating. Analysts offering their rating for APP stock have a consensus rating for the stock as Overweight. Currently, 2 brokerage advisors rate APP as a “sell,”, while 6 advise that investors “Hold.” 1 analysts have rated the stock as underweight. 0 rates the stock as overweight while 14 have offered a “buy” rating.
What is APP’s price target for the next 12 months?
Analysts have a consensus price target ranging from a low of $7.00 and a high of $57.00, with their median price target at $21.00. Looking at these predictions, the average price target given by analysts is for AppLovin Corporation (APP) stock is $22.13.