In today’s recent session, 0.58 million shares of the Applovin Corp (NASDAQ:APP) have been traded, and its beta is 1.87. Most recently the company’s share price was $90.15, and it changed around -$0.05 or -0.06% from the last close, which brings the market valuation of the company to $30.13B. APP at last check was trading at a discount to its 52-week high of $92.50, offering almost -2.61% off that amount. The share price’s 52-week low was $34.45, which indicates that the recent value has risen by an impressive 61.79% since then. We note from Applovin Corp’s average daily trading volume that its 10-day average is 3.43 million shares, with the 3-month average coming to 3.86 million.
Applovin Corp stock received a consensus recommendation rating of Overweight, based on a mean score of 1.78. If we narrow it down even further, the data shows that 1 out of 22 analysts rate the stock as a Sell; another 9 rate it as Overweight. Among the rest, 7 recommended APP as a Hold, whereas 5 deemed it a Buy, and 0 rated it as Underweight. Applovin Corp is expected to report earnings per share of 0.92 for the current quarter.
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Applovin Corp (NASDAQ:APP) trade information
Instantly APP has been showing red trend so far today with a performance of -0.06% on intraday trading today. The performance over the last five days has remained in the green territory. The rise to weekly highs of 92.50 on recent trading dayincreased the stock’s daily price by 2.54%. The company’s shares are currently up 126.22% year-to-date, but still up 5.05% over the last five days. On the other hand, Applovin Corp (NASDAQ:APP) is 16.28% up in the 30-day period. We can see from the shorts that 14.39 million shares have been sold at a short interest cover period of 5.2 day(s).
The consensus price target as assigned by Wall Street analysts is $77.5, which translates to bulls needing to decrease their stock price by -16.32% from its current value. Analyst projections state that APP is forecast to be at a low of $14 and a high of $118.
Applovin Corp (APP) estimates and forecasts
Applovin Corp share prices are performing particularly well compared to other companies within the same industry. As is evident from the statistics, the company’s shares have risen 52.82 percent over the past six months and at a 255.10% annual growth rate that is well above the industry average of 16.20%. Moreover, analysts have decided to roll up on their fiscal year 2024 revenue estimates. The rating firms predict that it will gain 206.70% in revenue this quarter, and will report an increase of 95.90% in the next quarter. The year-over-year growth rate is expected to be 34.90%, up from the previous year.
Consensus estimates provided by 13 financial analysts predict the company will bring in an average of 1.13B in revenue for the current quarter. 13 analysts expect Applovin Corp to make 1.17B in revenue for the current ending quarter. The company’s sales for the same quarters a year ago were 864.26M and 953.26M respectively. Analysts predict that the company’s current quarter sales will jump, forecast at 30.80%. Forecasts for the next quarter put sales growth at 23.00%.
Looking at the company’s year-over-year earnings, the past five years showed a positive earnings growth rate of 46.35%. Applovin Corp earnings are expected to increase by 241.20% in 2024, but the outlook is positive 20.00% per year for the next five years.
APP Dividends
Applovin Corp’s next quarterly earnings report is expected to be released on 2024-Nov-06.
Applovin Corp (NASDAQ:APP)’s Major holders
Upon looking at major shareholders, it appears that insiders hold 27.70% of Applovin Corp shares, and 61.38% of them are in the hands of institutional investors. The stock currently has a share float of 84.89%. Applovin Corp stock is held by 838.0 institutions, with VANGUARD GROUP INC being the largest institutional investor. By 2024-06-30, it held 5.689% of the shares, which is about 19.1 million shares worth $1.59 billion.
GQG PARTNERS LLC, with 3.9575% or 13.29 million shares worth $1.11 billion as of 2024-06-30, holds the second largest percentage of outstanding shares.
Vanguard Total Stock Market Index Fund and Vanguard Small-Cap Index Fund were the top two Mutual Funds as of Mar 31, 2024. The former held 4.23 shares worth $379.52 million, making up 1.42% of all outstanding shares. On the other hand, Vanguard Small-Cap Index Fund held roughly 3.43 shares worth around $307.9 million, which represents about 1.15% of the total shares outstanding.
