AppLovin Corporation [NASDAQ: APP] stock went on an upward path that rose over 1.25% on Thursday, amounting to a one-week price increase of more than 7.67%. The company report on March 13, 2023 that AppLovin Confirms Minimal Exposure to Silicon Valley Bank.
From Robots to Self-Driving Cars: 5 AI Stocks to Consider for Your Portfolio
The artificial intelligence (AI) revolution is already here and it's about to change everything we know about everything. With the global market for AI projected to grow from $137 billion in 2022 to over $1.81 trillion by 2030, there's never been a better time to invest in this burgeoning industry. That's why we've compiled a list of the Top 5 AI Stocks to Buy for 2023. These companies are at the forefront of the AI revolution, and have the potential to deliver huge returns to investors like you.
Get our free report, "Top 5 AI Stocks to Buy for 2023".
AppLovin Corporation (NASDAQ: APP) (“AppLovin”), a leading marketing platform, today issued the following statement regarding the closure of Silicon Valley Bank (“SVB”) by the California Department of Financial Protection and Innovation (“CDFPI”) and appointment of the Federal Deposit Insurance Corporation (“FDIC”) as receiver of SVB.
AppLovin has over $1 billion in cash and cash equivalents with less than $2 million at SVB as of March 10, 2023 and no SVB-related credit facilities. We expect to operate our business in the ordinary course and will continue to carefully monitor the situation.
Over the last 12 months, APP stock dropped by -70.06%. The one-year AppLovin Corporation stock forecast points to a potential upside of 34.57. The average equity rating for APP stock is currently 2.30, trading closer to a bullish pattern in the stock market.
The market cap for the stock reached $5.38 billion, with 371.06 million shares outstanding and 109.92 million shares in the current float. Compared to the average trading volume of 3.09M shares, APP stock reached a trading volume of 3312700 in the most recent trading day, which is why market watchdogs consider the stock to be active.
Guru’s Opinion on 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 $21.03 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 2.30. 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.
UBS have made an estimate for AppLovin Corporation shares, keeping their opinion on the stock as Neutral, with their previous recommendation back on February 23, 2023. While these analysts kept the previous recommendation, The Benchmark Company raised their target price to Sell. The new note on the price target was released on January 05, 2023, representing the official price target for AppLovin Corporation stock.
The Average True Range (ATR) for AppLovin Corporation is set at 0.83, with the Price to Sales ratio for APP stock in the period of the last 12 months amounting to 1.91. The Price to Book ratio for the last quarter was 2.68, with the Price to Cash per share for the same quarter was set at 2.77. Price to Free Cash Flow for APP in the course of the last twelve months was 13.05 with Quick ratio for the last quarter at 3.30.
APP Stock Performance Analysis:
AppLovin Corporation [APP] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 7.67. With this latest performance, APP shares dropped by -13.84% in over the last four-week period, additionally sinking by -45.70% over the last 6 months – not to mention a drop of -70.06% 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 52.74, with the RSI for the last a single of trading hit 54.88, and the three-weeks RSI is set at 52.21 for AppLovin Corporation [APP]. The present Moving Average for the last 50 days of trading for this stock 12.89, while it was recorded at 12.97 for the last single week of trading, and 21.56 for the last 200 days.
Insight into AppLovin Corporation Fundamentals:
Operating Margin for any stock indicates how profitable investing would be, and AppLovin Corporation [APP] shares currently have an operating margin of +6.64 and a Gross Margin at +56.31. AppLovin Corporation’s Net Margin is presently recorded at -6.37.
Return on Equity for this stock declined to -9.54, with Return on Assets sitting at -3.21.
AppLovin Corporation’s liquidity data is similarly interesting compelling, with a Quick Ratio of 3.30 and a Current Ratio set at 3.30.
AppLovin Corporation [APP] Insider Position Details
There are presently around $2,207 million, or 49.30% 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 4.30% of the total institutional ownership; VANGUARD GROUP INC, holding 15,832,711 shares of the stock with an approximate value of $217.86 million in APP stocks shares; and BLACKROCK INC., currently with $121.23 million in APP stock with ownership of nearly -26.823% of the company’s market capitalization.
Positions in AppLovin Corporation stocks held by institutional investors increased at the end of Wednesday and at the time of the Wednesday reporting period, where 141 institutional holders increased their position in AppLovin Corporation [NASDAQ:APP] by around 32,977,333 shares. Additionally, 133 investors decreased positions by around 14,558,071 shares, while 19 investors held positions by with 112,843,487 shares. The mentioned changes placed institutional holdings at 160,378,891 shares, according to the latest SEC report filing. APP stock had 69 new institutional investments in for a total of 12,625,218 shares, while 61 institutional investors sold positions of 5,618,244 shares during the same period.