In the latest trading session, 2.39 million Applovin Corp (NASDAQ:APP) shares changed hands as the company’s beta touched 2.29. With the company’s most recent per share price at $361.83 changing hands around $21.24 or 6.24% at last look, the market valuation stands at $121.43B. APP’s last price was a premium, traded about 3.93% off its 52-week high of $347.60. The share price had its 52-week low at $35.79, which suggests the last value was 90.11% up since then. When we look at Applovin Corp’s average trading volume, we note the 10-day average is 5.73 million shares, with the 3-month average coming to 5.47 million.
Analysts gave the Applovin Corp (APP) stock a consensus recommendation rating of Buy, calculated at a mean rating of 1.57. If we narrow down to specifics, the data shows that 1 out of 21 analysts rate the stock as a Sell, with a further 0 assigning it an Overweight rating. Of the remaining, 7 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 1.53.
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Applovin Corp (NASDAQ:APP) trade information
Instantly APP is in green as seen in intraday trades today. With action 13.22%, the performance over the past five days has been green. The company’s shares are showing year-to-date upside of 807.97%, with the 5-day performance at 13.22% in the green. However, in the 30-day time frame, Applovin Corp (NASDAQ:APP) is 121.26% up. Looking at the short shares, we see there were 16.67 million shares sold at short interest cover period of 2.71 days.
The consensus price target for the stock as assigned by Wall Street analysts is 107.5, meaning bulls need a downside of -236.59% from its recent market value. According to analyst projections, APP’s forecast low is 36 with 400 as the target high. To hit the forecast high, the stock’s price needs a -10.55% plunge from its current level, while the stock would need to tank 90.05% 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 343.20% over the past 6 months, a 314.29% in annual growth rate that is considerably higher than the industry average of 16.80%. Year-over-year growth is forecast to reach 39.92% up from the last financial year.
Consensus estimates given by 20 financial analysts project the company’s revenue in the current quarter to hit an average of 1.26B. 12 analysts are of the opinion that Applovin Corp’s revenue for the current quarter will be 1.31B. The company’s revenue for the corresponding quarters a year ago was 953.26M and 1.06B respectively. According to analysts, the company will likely register a growth in its current quarter sales, forecast at 31.95%. The estimates for the next quarter sales put growth at 23.39%.
Looking at the company’s year-on-year earnings, data shows that the past 5-year has an earnings growth rate of 46.35%. The 2024 estimates are for Applovin Corp earnings to increase by 313.07%, but the outlook for the next 5-year period is at 25.00% per year.
APP Dividends
Applovin Corp is expected to release its next quarterly earnings report in January.
Applovin Corp (NASDAQ:APP)’s Major holders
If we look at who the major shareholders are, we find that insiders hold 26.70% of Applovin Corp shares while 63.54% of the shares are in the hands of institutional holders. The share float percentage for the stock currently stands at 86.68%. There are 63.54% institutions holding the Applovin Corp stock share, with VANGUARD GROUP INC the top institutional holder. As of 2024-06-30, the company held 5.689% of the shares, roughly 19.1 million APP shares worth $1.59 billion.
GQG PARTNERS LLC holds the second largest percentage of outstanding shares, with 3.9575% or 13.29 million shares worth $1.11 billion as of 2024-06-30.
Among Mutual Funds, the top two as of Jun 30, 2024 were Vanguard Total Stock Market Index Fund and Vanguard Small-Cap Index Fund. With 6.05 shares estimated at $2.19 billion under it, the former controlled 2.03% of total outstanding shares. On the other hand, Vanguard Small-Cap Index Fund held about 0.93% of the shares, roughly 2.79 shares worth around $1.01 billion.
