In yesterday’s Wall Street session, Applovin Corp (NASDAQ:APP) shares traded at $84.69, up 14.45% from the previous session.
APP stock price is now 22.08% away from the 50-day moving average and 77.27% away from the 200-day moving average. The market capitalization of the company currently stands at $27.86B.
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On April 15, 2024, Daiwa Securities recently initiated its ‘Neutral’ rating on the stock quoting a target price of $80, while ‘HSBC Securities’ rates the stock as ‘Buy’
In other news, Valenzuela Victoria, CLO & Corp. Secretary sold 50,000 shares of the company’s stock on Apr 04 ’24. The stock was sold for $3,750,500 at an average price of $75.01. Upon completion of the transaction, the CLO & Corp. Secretary now directly owns 471,560 shares in the company, valued at $39.94 million. An SEC document containing details of the transaction can be found on the SEC’s website. On Mar 14 ’24, President & CFO Chen Herald Y sold 150,000 shares of the business’s stock. A total of $9,456,604 was realized by selling the stock at an average price of $63.04. This leaves the insider owning 62,418 shares of the company worth $5.29 million. A total of 50.08% of the company’s stock is owned by insiders.
During the past 12 months, Applovin Corp has had a low of $17.25 and a high of $79.55. As of last week, the company has a debt-to-equity ratio of 4.64, a current ratio of 2.11, and a quick ratio of 2.11.
According to the Software – Application Company, earnings per share came in at -0.01, missing analysts’ expectations of 0.06 by -0.07. This compares to -$0.01 EPS in the same period last year. The net profit margin was 16.39% and return on equity was 44.69% for APP. The company reported revenue of $1.06 billion for the quarter, compared to $715.4 million a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue rose 47.9 percent. For the current quarter, analysts expect APP to generate $1.06B in revenue.
