Stocks of Applovin Corp (NASDAQ:APP) traded higher last session on Wall Street, up 0.72% to $144.85.
APP stock price is now 33.14% away from the 50-day moving average and 85.15% away from the 200-day moving average. The market capitalization of the company currently stands at $48.42B.
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With the price target enhanced from $103 to $150, Goldman Downgraded its rating from Buy to Neutral for Applovin Corp (NASDAQ: APP). On September 17, 2024, UBS Upgraded its previous ‘Neutral’ rating to ‘Buy’ on the stock increasing its target price from $100 to quote $145, while ‘Jefferies’ rates the stock as ‘Buy’
In other news, Foroughi Arash Adam, CEO & Chairperson sold 100,000 shares of the company’s stock on Sep 13 ’24. The stock was sold for $11,140,337 at an average price of $111.40. Upon completion of the transaction, the CEO & Chairperson now directly owns 3,885,217 shares in the company, valued at $562.77 million. An SEC document containing details of the transaction can be found on the SEC’s website. On Sep 12 ’24, CEO & Chairperson Foroughi Arash Adam sold 100,000 shares of the business’s stock. A total of $10,419,320 was realized by selling the stock at an average price of $104.19. This leaves the insider owning 3,985,217 shares of the company worth $577.26 million. A total of 41.12% 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 $148.48. 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 $51473186816, which is based on a 61.38 price-to-earnings ratio, a 1.84 price-to-earnings-growth ratio, and a beta of 1.92. The fifty day moving average price for APP is $107.2771 and a two-hundred day moving average price translates $77.70915 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.
