Applovin Corp (NASDAQ: APP) Not A Good Play Anymore?

Applovin Corp (APP) concluded trading on Wednesday at a closing price of $72.86, with 7.32 million shares of worth about $532.97 million changed hands on the day. Half year performance of the stock remained positive as price took a surge of 78.49% during that period and on April 3, 2024 the price saw a gain of about 4.50%. Currently the company’s common shares owned by public are about 268.77M shares, out of which, 161.50M shares are available for trading.

Stock saw a price change of 2.49% in past 5 days and over the past one month there was a price change of 17.76%. Year-to-date (YTD), APP shares are showing a performance of 82.84% which increased to 362.60% when we look at its performance for past 12 months. Over the period of past 52 weeks, stock dropped to lowest price of $15.25 but also hit the highest price of $74.55 during that period. The average intraday trading volume for Applovin Corp shares is 4.23 million. The stock is currently trading 9.50% above its 20-day simple moving average (SMA20), while that difference is up 27.95% for SMA50 and it goes to 74.69% higher than SMA200.

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Applovin Corp (NASDAQ: APP) currently have 268.77M outstanding shares and institutions hold larger chunk of about 39.62% of that.

The stock has a current market capitalization of $24.92B and its 3Y-monthly beta is at 1.90. PE ratio of stock for trailing 12 months is 72.69, while it has posted earnings per share of $1.00 in the same period. It has Quick Ratio of 1.71 while making debt-to-equity ratio of 2.66. Volatility of a stock is a metric used to know how much the price of that stock is under influence and for APP, volatility over the week remained 4.48% while standing at 4.34% over the month.

Analysts are in expectations that Applovin Corp (APP) stock would likely to be making an EPS of $0.56 in the current quarter, while forecast for next quarter EPS is $0.6 and it is $3.12 for next year. For the current quarter EPS, analysts have given the company a lowest target $0.41 which is $0.77 at the higher side of the target for the same. When we compare those targets with actual EPS, we find that company posted an EPS of -$0.01 in the same quarter a year ago. Stock’s fiscal year EPS is expected to rise by 155.54% while it is estimated to increase by 24.76% in next year.

Digging deeper we find that several firms have released their research notes about the support levels of the stock. Most recent of them is a note released by HSBC Securities on December 18, 2023 offering a Buy rating for the stock and assigned a target price of $53.20 to it. Coverage by Jefferies stated Applovin Corp (APP) stock as a Buy in their note to investors on August 22, 2023, suggesting a price target of $50 for the stock. On July 24, 2023, BTIG Research Upgrade their recommendations, while on May 17, 2023, BofA Securities Upgrade their ratings for the stock with a price target of $27. Stock get a Neutral rating from UBS on February 23, 2023.

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