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Here's Why You Should Invest in AppLovin (APP) Stock Now
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AppLovin Corporation (APP - Free Report) stock has gained a massive 97% year to date, and we believe that it has the potential to sustain this momentum in the near term. Consequently, if you haven’t taken advantage of its share price appreciation yet, it’s time you add the stock to your portfolio.
Let’s take a look at some other factors that make APP an attractive pick.
Solid Rank and VGM Score: APP sports a Zacks Rank #1 (Strong Buy) and has a VGM Score of B. Our research shows that stocks with a VGM Score of A or B, when combined with a Zacks Rank #1 or 2 (Buy), offer the best investment opportunities for investors. Thus, the company is a compelling investment proposition at the moment.
Northward Estimate Revisions: Six estimates for 2024 moved north in the past 60 days versus no southward revision, reflecting analysts’ confidence in the company. The Zacks Consensus Estimate for 2024 earnings has moved up 19.8% in the past 60 days.
Positive Earnings Surprise History: APP has an impressive earnings surprise history. The company outpaced the Zacks Consensus Estimate in each of the trailing four quarters, delivering an earnings surprise of 60.9%, on average.
Strong Growth Prospects: The Zacks Consensus Estimate for APP’s 2024 earnings is pegged at $2.96, indicating more than 100% growth from the year-ago levels. Earnings in 2025 are expected to increase 20.7% from the prior-year actuals.
Growth Factors: APP’s top line is in good shape, driven by its commitment to execution and innovation, resulting in strength in the Software Platform business. The company’s sales increased 48% year over year in the first quarter of 2024, with the Software Platform business growing 91% year over year.
APP has introduced its advanced AXON 2.0 technology, enhanced gaming studios and ventured into new initiatives aimed at fueling market expansion and long-term growth. The company achieved more than 100% year-over-year increase in adjusted EBITDA, with adjusted EBITDA margin expanding 1400 basis points year over year in the first quarter of 2024.
BAH has a long-term earnings growth expectation of 14%. It delivered a trailing four-quarter earnings surprise of 12.5%, on average.
SPX Technologies, Inc. currently flaunts a Zacks Rank of 1. It has a long-term earnings growth expectation of 18%. SPXC delivered a trailing four-quarter earnings surprise of 13.9%, on average.
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Here's Why You Should Invest in AppLovin (APP) Stock Now
AppLovin Corporation (APP - Free Report) stock has gained a massive 97% year to date, and we believe that it has the potential to sustain this momentum in the near term. Consequently, if you haven’t taken advantage of its share price appreciation yet, it’s time you add the stock to your portfolio.
Let’s take a look at some other factors that make APP an attractive pick.
Solid Rank and VGM Score: APP sports a Zacks Rank #1 (Strong Buy) and has a VGM Score of B. Our research shows that stocks with a VGM Score of A or B, when combined with a Zacks Rank #1 or 2 (Buy), offer the best investment opportunities for investors. Thus, the company is a compelling investment proposition at the moment.
AppLovin Corporation Price
AppLovin Corporation price | AppLovin Corporation Quote
Northward Estimate Revisions: Six estimates for 2024 moved north in the past 60 days versus no southward revision, reflecting analysts’ confidence in the company. The Zacks Consensus Estimate for 2024 earnings has moved up 19.8% in the past 60 days.
Positive Earnings Surprise History: APP has an impressive earnings surprise history. The company outpaced the Zacks Consensus Estimate in each of the trailing four quarters, delivering an earnings surprise of 60.9%, on average.
Strong Growth Prospects: The Zacks Consensus Estimate for APP’s 2024 earnings is pegged at $2.96, indicating more than 100% growth from the year-ago levels. Earnings in 2025 are expected to increase 20.7% from the prior-year actuals.
Growth Factors: APP’s top line is in good shape, driven by its commitment to execution and innovation, resulting in strength in the Software Platform business. The company’s sales increased 48% year over year in the first quarter of 2024, with the Software Platform business growing 91% year over year.
APP has introduced its advanced AXON 2.0 technology, enhanced gaming studios and ventured into new initiatives aimed at fueling market expansion and long-term growth. The company achieved more than 100% year-over-year increase in adjusted EBITDA, with adjusted EBITDA margin expanding 1400 basis points year over year in the first quarter of 2024.
Other Stocks to Consider
A couple of other top-ranked stocks from the broader Zacks Business Services sector are Booz Allen Hamilton (BAH - Free Report) and SPX Technologies, Inc. (SPXC - Free Report) .
Booz Allen Hamilton has a Zacks Rank of 2 at present. You can see the complete list of today’s Zacks #1 Rank stocks here.
BAH has a long-term earnings growth expectation of 14%. It delivered a trailing four-quarter earnings surprise of 12.5%, on average.
SPX Technologies, Inc. currently flaunts a Zacks Rank of 1. It has a long-term earnings growth expectation of 18%. SPXC delivered a trailing four-quarter earnings surprise of 13.9%, on average.