Stocks of Applovin Corp (NASDAQ:APP) traded higher last session on Wall Street, down -2.08% to $89.00.
APP stock price is now 10.89% away from the 50-day moving average and 40.75% away from the 200-day moving average. The market capitalization of the company currently stands at $29.75B.
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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 14,166 shares of the company’s stock on Aug 22 ’24. The stock was sold for $1,274,690 at an average price of $89.98. Upon completion of the transaction, the CLO & Corp. Secretary now directly owns 352,616 shares in the company, valued at $31.38 million. An SEC document containing details of the transaction can be found on the SEC’s website. On Aug 22 ’24, Director HERALD Y CHEN bought 300,000 shares of the business’s stock. A total of $26,959,080 was incurred on buying the stock at an average price of $89.86. A total of 44.39% of the company’s stock is owned by insiders.
During the past 12 months, Applovin Corp has had a low of $34.45 and a high of $91.91. As of last week, the company has a debt-to-equity ratio of 4.32, a current ratio of 2.28, and a quick ratio of 2.28. According to the stock market information, the enterprise value for the company is $32805404672, which is based on a 37.71 price-to-earnings ratio, a 1.89 price-to-earnings-growth ratio, and a beta of 1.87. The fifty day moving average price for APP is $80.4895 and a two-hundred day moving average price translates $63.48105 for the stock.
The latest earnings results from Applovin Corp (NASDAQ: APP) was released for 2024-06-30. The net profit margin was 20.83% and return on equity was 70.66% for APP. The company reported revenue of $1.08 billion for the quarter, compared to $750.16 million a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue rose 43.98 percent.
