Applovin Corp [NASDAQ: APP] stock went on an upward path that rose over 7.95% on Monday, amounting to a one-week price increase of more than 13.53%. The company report on March 18, 2024 at 7:55 PM that /C O R R E C T I O N — Adjust/.
In the news release, Adjust and AppLovin Unveil Winning Framework For Mobile Gaming Studios And Marketers To Ride App Growth Momentum, issued 18-Mar-2024 by Adjust over PR Newswire, we are advised by the company that four hyperlinks (in total) in the 1st and 4th paragraphs, as well as the paragraph above the company’s boilerplate, regarding the Gaming App Insights Report, as well as the PC and Console Guide, were issued incorrectly. The complete, corrected release follows:.
New report details the latest app data and trends in mobile gaming and explores new tools, channels and approaches to drive growth and maximize revenue.
Over the last 12 months, APP stock rose by 395.28%. The one-year Applovin Corp stock forecast points to a potential downside of -2.57. The average equity rating for APP stock is currently 1.86, trading closer to a bullish pattern in the stock market.
The market cap for the stock reached $23.31 billion, with 268.77 million shares outstanding and 161.47 million shares in the current float. Compared to the average trading volume of 3.91M shares, APP stock reached a trading volume of 7554959 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 $66.44 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 2.73, with the Price to Sales ratio for APP stock in the period of the last 12 months amounting to 7.10. The Price to Book ratio for the last quarter was 18.44, 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 22.05 with Quick ratio for the last quarter at 1.71.
APP Stock Performance Analysis:
Applovin Corp [APP] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 13.53. With this latest performance, APP shares gained by 16.50% in over the last four-week period, additionally plugging by 59.15% over the last 6 months – not to mention a rise of 395.28% 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 72.14, with the RSI for the last a single of trading hit 75.48, and the three-weeks RSI is set at 70.10 for Applovin Corp [APP]. The present Moving Average for the last 50 days of trading for this stock 51.03, while it was recorded at 63.73 for the last single week of trading, and 39.36 for the last 200 days.
Insight into Applovin Corp Fundamentals:
Applovin Corp’s liquidity data is similarly interesting compelling, with a Quick Ratio of 1.71 and a Current Ratio set at 1.71.
APP Stock EPS
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.
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%.
