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AppLovin Corporation (APP) Is Up 13.77% in 2023 With Lots of Room to Run

AppLovin Corporation (NASDAQ: APP) is 13.77% higher on its value in year-to-date trading and has touched a low of $9.14 and a high of $76.38 in the current 52-week trading range. The question becomes, what are the chances the stock will continue to grow shareholders’ wealth in the market. Here’s what analysts think will happen to its price in the coming time. The APP stock was last observed hovering at around $10.94 in the last trading session, with the day’s gains setting it 1.04% off its average median price target of $21.00 for the next 12 months. It is also 78.98% off the consensus price target high of $57.00 offered by 23 analysts, but current levels are -71.14% lower than the price target low of $7.00 for the same period.

Currently trading at $11.98, the stock is 16.16% and 0.91% above its SMA20 and SMA50 respectively. However, with a daily trading volume of 2.71 million and changing 9.51% at the moment leaves the stock -55.25% off its SMA200. APP registered -83.10% loss for a year compared to 6-month loss of -66.87%.

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The stock witnessed a 21.87% gain in the last 1 month and extending the period to 3 months gives it a -32.70%, and is 10.82% up over the last 5 days. If we measure the stock’s price variations over the week and the month, we find that the volatility rates stand at 6.87% over the week and 6.07% over the month.

AppLovin Corporation (APP) has around 1594 employees, a market worth around $4.14B and $2.91B in sales. Fwd P/E is 39.54. Profit margin for the company is -7.90%. Distance from 52-week low is 31.07% and -84.32% from its 52-week high. The company has generated returns on investments over the last 12 months (2.20%).

AppLovin Corporation (APP) Analyst Forecasts

Analyst recommendations provided by FactSet shows that the consensus forecast for AppLovin Corporation (APP) is a “Overweight”. 23 analysts offering their recommendations for the stock have an average rating of 2.30, where 6 rate it as a Hold and 0 think it is a “Overweight”. 14 of the analysts rate the stock as a “Buy”. 2 analysts have rated the stock as a Sell or Underperform.

AppLovin Corporation is expected to release its quarterly report on 05/10/2023.The EPS is expected to grow by 126.60% this year.

AppLovin Corporation (APP) Top Institutional Holders

The shares outstanding are 369.39M, and float is at 181.08M with Short Float at 11.09%.

AppLovin Corporation (APP) Insider Activity

A total of 52 insider transactions have happened at AppLovin Corporation (APP) in the last six months, with sales accounting for 50 and purchases happening 2 times. The most recent transaction is an insider sale by Foroughi Arash Adam,the company’sCEO & Chairperson. SEC filings show that Foroughi Arash Adam sold 373,668 shares of the company’s common stock on Dec 12 at a price of $10.56 per share for a total of $3.95 million. Following the sale, the insider now owns 0.0 shares.

AppLovin Corporation disclosed in a document filed with the SEC on Dec 09 that Foroughi Arash Adam (CEO & Chairperson) sold a total of 373,667 shares of the company’s common stock. The trade occurred on Dec 09 and was made at $10.38 per share for $3.88 million. Following the transaction, the insider now directly holds 0.88 million shares of the APP stock.

Still, SEC filings show that on Dec 08, Foroughi Arash Adam (CEO & Chairperson) disposed off 373,666 shares at an average price of $10.55 for $3.94 million. The insider now directly holds 1,001,778 shares of AppLovin Corporation (APP).

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