Stocks of Applovin Corp (NASDAQ:APP) traded higher last session on Wall Street, up 3.28% to $83.12.
APP stock price is now 6.38% away from the 50-day moving average and 50.76% away from the 200-day moving average. The market capitalization of the company currently stands at $27.35B.
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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, Vivas Eduardo, Director sold 344,763 shares of the company’s stock on Jun 18 ’24. The stock was sold for $27,725,236 at an average price of $80.42. Upon completion of the transaction, the Director now directly owns 7,760,370 shares in the company, valued at $645.04 million. An SEC document containing details of the transaction can be found on the SEC’s website. On Jun 18 ’24, Director Vivas Eduardo sold 10,860 shares of the business’s stock. A total of $873,331 was realized by selling the stock at an average price of $80.42. This leaves the insider owning 114,404 shares of the company worth $9.51 million. A total of 48.44% of the company’s stock is owned by insiders.
During the past 12 months, Applovin Corp has had a low of $24.52 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 stock market information, the enterprise value for the company is $30436734976, which is based on a 49.24 price-to-earnings ratio, a 2.46 price-to-earnings-growth ratio, and a beta of 1.84. The fifty day moving average price for APP is $78.3481 and a two-hundred day moving average price translates $55.338974 for the stock.
The latest earnings results from Applovin Corp (NASDAQ: APP) was released for 2024-03-31. 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.
