Applovin Corp [NASDAQ: APP] gained 3.24% or 1.98 points to close at $63.09 with a heavy trading volume of 3576491 shares. The company report on March 12, 2024 at 12:00 PM that Adjust Integrates Google Play Games on PC, Unlocking Cross-Device Marketing Opportunities For App Developers.
Addition of Play Install Referrer API makes it easier to distribute and measure cross-play games.
Leading measurement and analytics company Adjust today announced a first-of-its-kind integration with Google Play Games on PC, marking a significant milestone in empowering gaming app developers, marketers and studios to seamlessly distribute and measure their marketing campaigns across a diverse range of platforms. Adjust is enhancing PC | console measurement with the addition of Google’s Play Install Referrer API to directly attribute installs to PC campaigns. This integration helps app developers understand which channels deliver the most users to their apps from the Google Play store.
The daily chart for APP points out that the company has recorded 51.29% gains over the past six months.
If we look at the average trading volume of 3.90M shares, APP reached to a volume of 3576491 in the most recent trading day, which is why market watchdogs consider the stock to be active.
Here is what top equities market gurus are saying about 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 $65.94 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 1.86. 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. While these analysts kept the previous recommendation, Jefferies raised their target price from $20 to $50. The new note on the price target was released on August 22, 2023, representing the official price target for Applovin Corp stock. Previously, the target price had yet another raise to $34, while BTIG Research analysts kept a Buy rating on APP stock. On May 17, 2023, analysts increased their price target for APP shares from 21 to 27.
The Average True Range (ATR) for Applovin Corp is set at 2.62, with the Price to Sales ratio for APP stock in the period of the last 12 months amounting to 6.57. The Price to Book ratio for the last quarter was 17.07, with the Price to Cash per share for the same quarter was set at 1.47. Price to Free Cash Flow for APP in the course of the last twelve months was 20.41 with Quick ratio for the last quarter at 1.71.
Trading performance analysis for APP stock
Applovin Corp [APP] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 0.75. With this latest performance, APP shares gained by 34.06% in over the last four-week period, additionally plugging by 51.29% over the last 6 months – not to mention a rise of 408.38% 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 64.76, with the RSI for the last a single of trading hit 63.93, and the three-weeks RSI is set at 64.75 for Applovin Corp [APP]. The present Moving Average for the last 50 days of trading for this stock 49.45, while it was recorded at 62.17 for the last single week of trading, and 38.76 for the last 200 days.
Applovin Corp [APP]: A deeper dive into fundamental analysis
Applovin Corp’s liquidity data is similarly interesting compelling, with a Quick Ratio of 1.71 and a Current Ratio set at 1.71.
Applovin Corp [APP]: An earnings per share (EPS) analysis
With the latest financial reports released by the company, Applovin Corp posted -0.01/share EPS, while the average EPS was predicted by analysts to be reported at 0.06/share. When compared, the two values demonstrate that the company fail the estimates by a Surprise Factor of -116.70%. 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.
An analysis of Institutional ownership at Applovin Corp [APP]
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%.
