AppLovin Corporation (NASDAQ:APP) finished Thursday with an addition of $7.79 to close at $37.20, an upside of 26.49 percent. An average of 6,378,920 shares of common stock have been traded in the last five days. There was a gain of $6.61 in the past week, and it reached a new high 1 time over the past 12 months. The last 20 days have seen an average of 2,821,275 shares traded, while the 50-day average volume stands at 2,724,934.
APP stock has increased by 31.45% in the last month. The company shares reached their 1-month lowest point of $26.92 on 07/11/23. With the stock rallying to its 52-week high on 08/10/23, shares of the company touched a low of $9.14 and a high of $40.53 in 52 weeks. It has reached a new high 35 times so far this year and achieved 253.28% or $26.67 in price. In spite of this, the price is down -8.22% from the 52-week high.
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Insider Transactions
APP stock investors should be aware that AppLovin Corporation (APP) stock had its last reported insider trading activity 15 days ago on Jul 27. In this transaction, the insider spent $773,500. Chief Technology Officer, Shikin Vasily, disposed of 30,000 shares at a price of $22.54 on Jun 13. The insider now owns more than $676,092 worth of shares. Prior to that, Director Harvey Dawson Alyssa went on to Sale 5,188 shares at $22.71 each on Jun 13. An amount of $117,819 was transacted.
Valuation Metrics
AppLovin Corporation (APP) stock’s beta is 1.95. Other valuation ratios to consider include the trailing price-to-sales (P/S) ratio at 4.34, the price-to-book (PB) ratio at 7.31.
Financial Health
The quick ratio of AppLovin Corporation for the three months ended June 29 was 3.30, and the current ratio was 3.30, indicating that the company is able to meet its debt obligations. Further, the company has a long term debt to equity ratio of 1.68 and a total debt to equity ratio of 1.70 for the quarter ending June 29. AppLovin Corporation’s EBITDA margin for the year ending June 29 is 24.71%. Its gross profit as reported stood at $1.56 billion compared to revenue of $2.82 billion.
Earnings Surprise
For the three-month period that ended June 29, AppLovin Corporation had $3.17 billion in total debt. In the quarter under review, the net income was up than the previous quarter. The company posted a net income of $80.04 million in the quarter, while revenues of -$4.52 million were grew 127.17%. The analyst consensus anticipated AppLovin Corporation’s latest quarter earnings to come in at $0.07 per share, but it turned out to be $0.22, a 214.30% surprise. For the quarter, EBITDA amounted to $254.55 million. Shareholders own equity worth $347.8 million.
Technical Picture
From a technical analysis perspective, let’s take a brief look at AppLovin Corporation (APP) price momentum. RSI 9-day as of the close on 10 August was 80.87%, suggesting the stock is Overbought, with historical volatility in this time frame at 122.28%.
As of today, APP’s price is $31.76 +21.61% or $6.61 from its 5-day moving average. APP is currently trading +28.32% higher than its 20-day SMA and +175.15% higher than its 100-day SMA. However, the stock’s current price level is +53.53% above the SMA50 and +112.33% above the SMA200.
The stochastic %K and %D were 59.20% and 62.43%, respectively, and the average true range (ATR) was 2.10. With the 14-day stochastic at 84.00% and the average true range at 1.74, the RSI (14) stands at 78.42%. The stock has reached 0.73 on the 9-day MACD Oscillator while the 14-day reading was at 1.41.
Analyst Ratings
BTIG Research upgraded AppLovin Corporation (NASDAQ: APP) to a a Buy rating in its most recent analyst report. Previously, the stock was rated as a Neutral. The consensus rating for AppLovin Corporation (APP) among analysts is Overweight. According to current brokerage recommendations, 1 brokerage firm advise that investors sell APP, while 8 suggest investors hold. There are 0 analysts who rate the stock as underweight. The stock is rated overweight by 0 analysts, while 14 others rate it as a “buy”.
What is APP’s price target for the next 12 months?
Analysts predict a range of price targets between $17.50 and $57.00, with a median target of $33.50. Taking a look at these predictions, the average price target given by analysts for AppLovin Corporation (APP) stock is $34.05.
