The trading price of Applovin Corp (NASDAQ:APP) closed higher on Tuesday, October 29, and closing at $172.24, 3.64% higher than its previous close.
Traders who pay close attention to intraday price movement should know that it fluctuated between $166.67 and $172.55. The company’s P/E ratio in the trailing 12-month period was 72.98, while its 5Y monthly beta was 1.92. In examining the 52-week price action we see that the stock hit a 52-week high of $166.74 and a 52-week low of $35.79. Over the past month, the stock has gained 31.93% in value.
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Applovin Corp, whose market valuation is $57.57 billion at the time of this writing, is expected to release its quarterly earnings report on 2024-Nov-06. Investors’ optimism about the company’s current quarter earnings report is understandable.
On the technical side, indicators suggest APP has a 100% Buy on average for the short term. According to the data of the stock’s medium term indicators, the stock is currently averaging as a 100% Buy, while an average of long term indicators suggests that the stock is currently 100% Buy.
Here is the average analyst rating on the stock as represented by 1.00 to 5.00, with the extremes of 1.00 and 5.00 suggesting the stock should be considered as either strong buy or strong sell respectively. The number of analysts that have assigned APP a recommendation rating is 21. Out of them, 7 rate it a Hold, while 13 recommend Buy, whereas 0 assign an Overweight rating. 0 analyst(s) have tagged Applovin Corp (APP) as Underweight, while 1 advise Sell. Analysts have rated the stock Buy, likely urging investors to take advantage of the opportunity to add to their holdings of the company’s shares.
If we dig deeper into the stock’s outlook, we see that the stock’s PEG is 2.08, which symbolizes a positive outlook. A quick review shows that APP’s price is currently 15.47% off the SMA20 and 40.12% off the SMA50. The RSI metric on the 14-day chart is currently showing 88.72, and weekly volatility stands at 3.35%. When measured over the past 30 days, the indicator reaches 3.50%. Applovin Corp (NASDAQ:APP)’s beta value is currently sitting at 1.92, while the Average True Range indicator is currently displaying 5.49. With analysts defining $36-$210 as the low and high price targets, we arrive at a consensus price target of $103.5 for the trailing 12-month period. The current price is about 79.1% off the estimated low and -21.92% off the forecast high, based on this estimate. Investors will be thrilled if APP’s share price rises to $103.5, which is the median consensus price. At that level, APP’s share price would be 39.91% above current price.
To see how Applovin Corp stock has been performing in comparison to its peers in the industry, here are the numbers: APP stock’s performance was 3.64% in the latest trading, and 375.54% in the past year. Applovin Corp has a P/E ratio of 72.98.
An evaluation of the daily trading volume of Applovin Corp (NASDAQ:APP) indicates that the 3-month average is 4.25 million. However, this figure has increased over the past 10 days to an average of 3.31.
Currently, records show that 268.77 million of the company’s shares remain outstanding. The insiders hold 41.12% of outstanding shares, whereas institutions hold 51.61%. The stats also highlight that short interest as of 2024-10-15, stood at 21.88 million shares, resulting in a short ratio of 4.58 at that time. From this, we can conclude that short interest is 764.00 of the company’s total outstanding shares. It is noteworthy that short shares in October were up slightly from the previous month’s figure, which was 17.28 million. However, since the stock’s price has seen 332.22% year-to-date, investors’ interest is likely to be reignited due to its potential to move even higher.
