Applovin Corp (NASDAQ: APP) – Analyst View Looks Different Today

In the last trading session, 1.99 million Applovin Corp (NASDAQ:APP) shares changed hands as the company’s beta touched 1.77. With the company’s per share price at $39.50 changed hands at $0.4 or 1.02% during last session, the market valuation stood at $13.74B. APP’s last price was a discount, traded about -14.18% off its 52-week high of $45.10. The share price had its 52-week low at $9.14, which suggests the last value was 76.86% up since then. When we look at Applovin Corp’s average trading volume, we note the 10-day average is 5.13 million shares, with the 3-month average coming to 2.77 million.

Analysts gave the Applovin Corp (APP) stock a consensus recommendation rating of an Overweight, calculated at a mean rating of 1.80. If we narrow down to specifics, the data shows that 1 out of 20 analysts rate the stock as a Sell, with a further 0 assigning it an Overweight rating. Of the remaining, 6 recommended APP as a Hold, 13 felt it is a Buy and 0 rated the stock as Underweight. Applovin Corp’s EPS for the current quarter is expected to be $0.36.

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Applovin Corp (NASDAQ:APP) trade information

Instantly APP was in green as seen at the end of in last trading. With action -4.61%, the performance over the past five days has been red. The jump to weekly highs of 43.81 on Monday, 11/20/23 added 1.02% to the stock’s daily price. The company’s shares are showing year-to-date upside of 275.12%, with the 5-day performance at -4.61% in the red. However, in the 30-day time frame, Applovin Corp (NASDAQ:APP) is 5.11% up. Looking at the short shares, we see there were 15.87 million shares sold at short interest cover period of 8.05 days.

The consensus price target for the stock as assigned by Wall Street analysts is $50.83, meaning bulls need an upside of 22.29% from its current market value. According to analyst projections, APP’s forecast low is $28.00 with $60.00 as the target high. To hit the forecast high, the stock’s price needs a -51.9% plunge from its current level, while the stock would need to tank 29.11% for it to hit the projected low.

Applovin Corp (APP) estimates and forecasts

Data shows that the Applovin Corp share is performing relatively much better than most of its peers within the same industry. As can be gleaned from the statistics, the company’s share value shot 57.43% over the past 6 months, a 383.33% in annual growth rate that is considerably higher than the industry average of 12.00%. Moreover, analysts have looked to higher expectations by upgrading its fiscal year 2023 revenue estimates. The rating firms predict current quarter revenue for Applovin Corp will rise 271.40%, while the growth in revenue is estimated to hit 3,400.00% for the next quarter. Year-over-year growth is forecast to reach 15.60% up from the last financial year.

Consensus estimates given by 14 financial analysts project the company’s revenue in the current quarter to hit an average of $917.46 million. 7 analysts are of the opinion that Applovin Corp’s revenue for the quarter ending Mar 2024 will be $914.16 million. The company’s revenue for the corresponding quarters a year ago was $702.31 million and $715.4 million respectively. According to analysts, the company will likely register a growth in its current quarter sales, forecast at 30.60%. The estimates for the next quarter sales put growth at 27.80%.

The 2023 estimates are for Applovin Corp earnings to increase by 263.28%.

APP Dividends

Applovin Corp is expected to release its next quarterly earnings report between February 06 and February 12.

Applovin Corp (NASDAQ:APP)’s Major holders

If we look at who the major shareholders are, we find that insiders hold 38.09% of Applovin Corp shares while 56.78% of the shares are in the hands of institutional holders. The share float percentage for the stock currently stands at 91.72%. There are 56.78% institutions holding the Applovin Corp stock share, with Kohlberg Kravis Roberts & Co. L.P. the top institutional holder. As of Jun 29, 2023, the company held 10.72% of the shares, roughly 29.64 million APP shares worth $762.76 million.

Vanguard Group Inc holds the second largest percentage of outstanding shares, with 6.03% or 16.69 million shares worth $429.38 million as of Jun 29, 2023.

Among Mutual Funds, the top two as of Jun 29, 2023 were Vanguard Total Stock Market Index Fund and Vanguard Small-Cap Index Fund. With 5.53 million shares estimated at $142.2 million under it, the former controlled 2.00% of total outstanding shares. On the other hand, Vanguard Small-Cap Index Fund held about 1.64% of the shares, roughly 4.54 million shares worth around $116.9 million.

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