Applovin Corp (NASDAQ:APP) shares traded 0.74% higher at $84.06 on Wall Street last session.
APP stock price is now 17.81% away from the 50-day moving average and 71.97% away from the 200-day moving average. The market capitalization of the company currently stands at $27.66B.
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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, KKR Group Partnership L.P., 10% Owner sold 17,500,000 shares of the company’s stock on May 13 ’24. The stock was sold for $1,458,800,000 at an average price of $83.36. Upon completion of the transaction, the 10% Owner now directly owns 366,567 shares in the company, valued at $30.81 million. An SEC document containing details of the transaction can be found on the SEC’s website. On May 13 ’24, 10% Owner KKR Denali Holdings L.P. sold 17,500,000 shares of the business’s stock. A total of $1,458,800,000 was realized by selling the stock at an average price of $83.36. This leaves the insider owning 366,567 shares of the company worth $30.81 million. A total of 48.54% of the company’s stock is owned by insiders.
During the past 12 months, Applovin Corp has had a low of $21.03 and a high of $88.50. 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.
