Applovin Corp [APP] Stock trading around $46.87 per share: What’s Next?

Applovin Corp [NASDAQ: APP] stock went on an upward path that rose over 2.27% on Wednesday, amounting to a one-week price decrease of less than -1.72%. The company report on February 14, 2024 at 4:05 PM that AppLovin Announces Fourth Quarter and Full Year 2023 Financial Results.

AppLovin Corporation (NASDAQ: APP) (“AppLovin”), a leading marketing platform, today announced financial results for the fourth quarter and full year ended December 31, 2023 and posted a letter to its shareholders on its Investor Relations website located at www.investors.applovin.com.

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Over the last 12 months, APP stock rose by 195.52%. The one-year Applovin Corp stock forecast points to a potential upside of 9.17. The average equity rating for APP stock is currently 1.70, trading closer to a bullish pattern in the stock market.

The market cap for the stock reached $15.74 billion, with 302.71 million shares outstanding and 135.40 million shares in the current float. Compared to the average trading volume of 2.95M shares, APP stock reached a trading volume of 6563170 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Guru’s Opinion on Applovin Corp [APP]:

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for APP shares is $51.60 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 1.70. 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.

HSBC Securities have made an estimate for Applovin Corp shares, keeping their opinion on the stock as Buy, with their previous recommendation back on December 18, 2023.

The Average True Range (ATR) for Applovin Corp is set at 2.00, with the Price to Sales ratio for APP stock in the period of the last 12 months amounting to 5.19. The Price to Book ratio for the last quarter was 14.36, with the Price to Cash per share for the same quarter was set at 0.99. Price to Free Cash Flow for APP in the course of the last twelve months was 17.95 with Quick ratio for the last quarter at 1.61.

APP Stock Performance Analysis:

Applovin Corp [APP] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -1.72. With this latest performance, APP shares gained by 15.10% in over the last four-week period, additionally plugging by 18.27% over the last 6 months – not to mention a rise of 195.52% 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 59.10, with the RSI for the last a single of trading hit 59.54, and the three-weeks RSI is set at 58.45 for Applovin Corp [APP]. The present Moving Average for the last 50 days of trading for this stock 41.57, while it was recorded at 46.53 for the last single week of trading, and 35.03 for the last 200 days.

Insight into Applovin Corp Fundamentals:

Applovin Corp’s liquidity data is similarly interesting compelling, with a Quick Ratio of 1.61 and a Current Ratio set at 1.61.

APP Stock EPS

With the latest financial reports released by the company, Applovin Corp posted -0.21/share EPS, while the average EPS was predicted by analysts to be reported at 0.05/share. When compared, the two values demonstrate that the company fail the estimates by a Surprise Factor of -520.00%. The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for APP.

Applovin Corp [APP] Institutonal Ownership Details

The top three institutional holders of APP stocks are: VANGUARD GROUP INC with ownership of 1.3 billion shares, which is approximately 8.2815%. BLACKROCK INC., holding 1.03 billion shares of the stock with an approximate value of $176.59 billion in APP stocks shares; and BERKSHIRE HATHAWAY INC, currently with $156.75 billion in APP stock with ownership which is approximately 5.8325%.