Applovin Corp [APP] Is Currently 4.50 below its 200 Period Moving Avg: What Does This Mean?

Applovin Corp [NASDAQ: APP] surged by $3.14 during the normal trading session on while it closed the day at $72.86. The company report on April 3, 2024 at 4:05 PM that AppLovin to Announce First Quarter 2024 Results.

AppLovin Corporation, (NASDAQ: APP) (“AppLovin” or the “Company”) the leading marketing platform, today announced it will report financial results for the first quarter on Wednesday, May 8, 2024 after the U.S. stock market closes.

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An accompanying webinar will take place at 2:00 PM PT / 5:00 PM ET on May 8, 2024 during which management will discuss quarterly results, as well as provide commentary on business performance. The webinar will be hosted by Adam Foroughi, Co-founder and Chief Executive Officer, and Matt Stumpf, Chief Financial Officer.

Applovin Corp stock has also gained 2.49% of its value over the past 7 days. However, APP stock has inclined by 87.88% in the 3 months of the year. Over the past six months meanwhile, it has gained 78.49% and gained 82.84% year-on date.

The market cap for APP stock reached $24.92 billion, with 268.77 million shares outstanding and 161.50 million shares in the current float. Compared to the average trading volume of 4.23M shares, APP reached a trading volume of 7315054 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here’s what leading stock market gurus have to say 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 $66.94 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 2.97, with the Price to Sales ratio for APP stock in the period of the last 12 months amounting to 7.59. The Price to Book ratio for the last quarter was 19.71, 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 23.57 with Quick ratio for the last quarter at 1.71.

APP stock trade performance evaluation

Applovin Corp [APP] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 2.49. With this latest performance, APP shares gained by 17.76% in over the last four-week period, additionally plugging by 78.49% over the last 6 months – not to mention a rise of 362.60% 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 69.82, with the RSI for the last a single of trading hit 71.12, and the three-weeks RSI is set at 68.87 for Applovin Corp [APP]. The present Moving Average for the last 50 days of trading for this stock 57.53, while it was recorded at 69.96 for the last single week of trading, and 41.96 for the last 200 days.

Applovin Corp [APP]: An insightful look at the core 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.

Earnings per share (EPS) analysis for Applovin Corp [APP] stock

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]: Institutional Ownership

The top three institutional holders of APP stocks are: VANGUARD GROUP INC with ownership of 1.32 billion shares, which is approximately 8.4983%. BLACKROCK INC., holding 1.04 billion shares of the stock with an approximate value of $200.69 billion in APP stocks shares; and BERKSHIRE HATHAWAY INC, currently with $174.35 billion in APP stock with ownership which is approximately 5.8386%.