For AppLovin Corporation [APP], Analyst sees a rise to $14. What next?

AppLovin Corporation [NASDAQ: APP] traded at a high on 11/30/22, posting a 7.22 gain after which it closed the day’ session at $14.41. The company report on November 9, 2022 that AppLovin Announces Third Quarter 2022 Financial Results.

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AppLovin Corporation (NASDAQ: APP) (“AppLovin”), a leading marketing platform, today announced financial results for the quarter ended September 30, 2022 and posted a Shareholder Letter at www.investors.applovin.com.

The results of the trading session contributed to over 8642879 shares changing hands. Over the past one week, the price volatility of AppLovin Corporation stands at 5.65% while the volatility over the past one month is 7.74%.

The market cap for APP stock reached $5.30 billion, with 369.39 million shares outstanding and 181.04 million shares in the current float. Compared to the average trading volume of 2.66M shares, APP reached a trading volume of 8642879 in the most recent trading day, which is why market watchdogs consider the stock to be active.

What do top market gurus say about AppLovin Corporation [APP]?

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for APP shares is $29.06 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on APP stock is a recommendation set at 1.90. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

Jefferies have made an estimate for AppLovin Corporation shares, keeping their opinion on the stock as Hold, with their previous recommendation back on November 30, 2022. While these analysts kept the previous recommendation, Morgan Stanley dropped their target price from $35 to $20. The new note on the price target was released on November 28, 2022, representing the official price target for AppLovin Corporation stock. Previously, the target price had yet another drop from $75 to $18, while JP Morgan kept a Neutral rating on APP stock.

The Average True Range (ATR) for AppLovin Corporation is set at 1.11, with the Price to Sales ratio for APP stock in the period of the last 12 months amounting to 1.82. The Price to Book ratio for the last quarter was 2.83, with the Price to Cash per share for the same quarter was set at 2.56. Price to Free Cash Flow for APP in the course of the last twelve months was 24.44 with Quick ratio for the last quarter at 3.40.

How has APP stock performed recently?

AppLovin Corporation [APP] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 3.22. With this latest performance, APP shares dropped by -15.04% in over the last four-week period, additionally sinking by -62.39% over the last 6 months – not to mention a drop of -84.18% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for APP stock in for the last two-week period is set at 43.00, with the RSI for the last a single of trading hit 47.23, and the three-weeks RSI is set at 40.81 for AppLovin Corporation [APP]. The present Moving Average for the last 50 days of trading for this stock 17.25, while it was recorded at 13.89 for the last single week of trading, and 34.29 for the last 200 days.

AppLovin Corporation [APP]: Deeper insight into the fundamentals

Operating Margin for any stock indicates how profitable investing would be, and AppLovin Corporation [APP] shares currently have an operating margin of +5.37 and a Gross Margin at +63.81. AppLovin Corporation’s Net Margin is presently recorded at +1.14.

Return on Equity for this stock inclined to 3.20, with Return on Assets sitting at 0.76.

AppLovin Corporation’s liquidity data is similarly interesting compelling, with a Quick Ratio of 3.40 and a Current Ratio set at 3.40.

Insider trade positions for AppLovin Corporation [APP]

There are presently around $2,046 million, or 49.40% of APP stock, in the hands of institutional investors. The top three institutional holders of APP stocks are: KOHLBERG KRAVIS ROBERTS & CO. L.P. with ownership of 60,735,000, which is approximately 0% of the company’s market cap and around 5.00% of the total institutional ownership; VANGUARD GROUP INC, holding 15,387,994 shares of the stock with an approximate value of $221.74 million in APP stocks shares; and BLACKROCK INC., currently with $173.49 million in APP stock with ownership of nearly 3.352% of the company’s market capitalization.

Positions in AppLovin Corporation stocks held by institutional investors increased at the end of November and at the time of the November reporting period, where 145 institutional holders increased their position in AppLovin Corporation [NASDAQ:APP] by around 18,224,451 shares. Additionally, 103 investors decreased positions by around 19,985,145 shares, while 30 investors held positions by with 103,797,324 shares. The mentioned changes placed institutional holdings at 142,006,920 shares, according to the latest SEC report filing. APP stock had 51 new institutional investments in for a total of 8,366,248 shares, while 51 institutional investors sold positions of 15,973,731 shares during the same period.

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