At the last check on Friday, AppLovin Corporation’s (NASDAQ:APP) stock was up $1.27, moving up 4.15 percent to $31.86. The average number of shares traded per day over the past five days has been 1,604,052 shares. 2 times new highs have been achieved over the past 5 days, with a $0.62 gain in that time frame. In the last twenty days, the average volume was 1,734,733, while in the previous 50 days, it was 2,266,207.
Since last month, APP stock rose 24.70%. Shares of the company fell to $25.24 on 07/06/23, the lowest level in the past month. A 52-week high of $40.56 was reached on 08/01/23 after having rallying from a 52-week low of $9.14. Since the beginning of this year, APP’s stock price has risen by 202.56% or $21.35, and marked a new high 34 times. However, the stock has declined by -21.44% since its 52-week high.
APP stock investors should be aware that AppLovin Corporation (APP) stock had its last reported insider trading activity 8 days ago on Jul 27. Valenzuela Victoria, the CLO & Corp. Secretary of the company, disposed of 25,000 shares for $30.94 on Jul 27. It resulted in a $773,500 divestment by the insider. Shikin Vasily sold 30,000 shares at an average price of $22.54 on Jun 13. The insider now owns 8,672,832 shares following the transaction. On Jun 13, Director Harvey Dawson Alyssa sold 5,188 shares at $22.71 apiece. The transaction was valued at $117,819.
Valuation Metrics
The stock’s beta is 1.94. Besides these, the trailing price-to-sales (P/S) ratio of 3.66, the price-to-book (PB) ratio of 6.26.
Financial Health
In the three months ended March 30, AppLovin Corporation’s quick ratio stood at 3.30, while its current ratio was 3.30, showing that the company is able to pay off its debt. According to company report, the long-term debt-to-equity ratio for the quarter ending March 30 was 1.68, and the total debt-to-equity ratio was 1.70. On the profitability front, the trailing twelve-month gross margin is 61.90% percent. Based on annual data, APP earned $1.56 billion in gross profit and brought in $2.82 billion in revenue.
In AppLovin Corporation’s quarter-end financial report for March 30, it reported total debt of $3.17 billion. According to the earnings report, the company had a higher net income in the recent quarter than it did in the previous quarter. APP’s revenue rose 12.58% to $702.31 million during the quarter, while net income inched up to $715.41 million. While analysts expected AppLovin Corporation to report $0.06 quarterly earnings, the actual figure was -$0.01 per share, beating the consensus estimate by -116.70%. During the quarter, the company generated $192.5 million in EBITDA. The liabilities of AppLovin Corporation were 4.02 billion at the end of its most recent quarter ended March 30, and its total debt was $3.27 billion. The value of shareholders’ equity is $364.48 million.
Technical Picture
This quick technical analysis looks at AppLovin Corporation’s (APP) price momentum. With a historical volatility rate of 33.40%, the RSI 9-day stood at 75.26% on 03 August.
With respect to its five-day moving average, the current AppLovin Corporation price is up by +1.98% percent or $0.62. At present, APP shares trade +22.66% above its 20-day simple moving average and +156.89% percent above its 100-day simple moving average. However, the stock is currently trading approximately +28.50% above its SMA50 and +72.89% above its SMA200.
Stochastic coefficient K was 82.59% and Stochastic coefficient D was 82.67%, while ATR was 1.14. Given the Stochastic reading of 96.82% for the 14-day period, the RSI (14) reading has been calculated as 73.53%. As of today, the MACD Oscillator reading stands at 0.51, while the 14-day reading stands at 1.39.
Analyst Ratings
BTIG Research upgraded its rating on AppLovin Corporation (NASDAQ: APP) to a Buy in a note to investors on July 24, 2023. The analysts firm previously had a Neutral rating on the stock.AppLovin Corporation (APP) has been rated Overweight by analysts. According to 1 brokerage firm, APP is a sell, and 8 firms recommend it is a Hold. There are 0 analysts who say the stock is underweight. A total of 0 analysts rate AppLovin Corporation stock as buy, with 14 recommending it as overweight.
With a median target price of $25.00, the current consensus forecast for the stock is $14.00 – $49.00. Based on these forecasts, analysts predict AppLovin Corporation (APP) will achieve an average price target of $26.90.
