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AppLovin and Darling Ingredients have been highlighted as Zacks Bull and Bear of the Day
Read MoreHide Full Article
For Immediate Release
Chicago, IL –October 7, 2024 – Zacks Equity Research shares AppLovin Corp. (APP - Free Report) , as the Bull of the Day and Darling Ingredients Inc. (DAR - Free Report) , as the Bear of the Day. In addition, Zacks Equity Research provides analysis on Robinhood Markets, Inc. (HOOD - Free Report) , BlackRock, Inc. (BLK - Free Report) and CME Group Inc. (CME - Free Report) .
AppLovin Corp. stock is an under-the-radar Wall Street star that’s skyrocketed 1,300% since the end of 2022, blowing away Nvidia and tons of other artificial intelligence darlings grabbing all the headlines.
AppLovin’s impressive earnings growth outlook has APP stock trading at cheap valuation levels even though it has ripped 55% higher in the last month alone.
AppLovin hit fresh highs in September, breaking above its 2021 peaks as the app-monetization company’s earnings outlook soars.
AppLovin is gaining steam as app makers fall in love with its AI-boosted features that help them grow in the hyper-competitive digital app market. And APP’s earnings outlook for 2025 keeps climbing.
Why AppLovin Is a Strong Growth Tech Stock to Buy
AppLovin designs tools to help app developers improve marketing, revenue generation, and beyond to boost profitable expansion.
APP’s products and solutions enable companies and app developers to acquire and keep their ideal users, increase value across a customer’s lifecycle, measure their marketing and reach, and much more.
AppLovin rolled out its enhanced, machine learning and AI engine AXON technology in the second quarter of 2023. In the second quarter of 2024, APP said AXON’s “enhancements through ongoing self-learning” and its “dedicated development efforts have fueled robust business performance.”
APP’s machine learning and AI engine is generating impressive results for AppLovin’s clients across mobile gaming and beyond.
AppLovin boasts that it connects its clients to “audiences in-app, on mobile devices, across CTV, and beyond so your business can do more, accelerate faster, and achieve meaningful growth.”
APP’s portfolio of products and solutions help its customers increase their average revenue per daily user, acquire “valuable” users, increase in-app purchases, scale ad impressions and more.
AppLovin helps its clients hone in on consumers who are “likely to drive in-app purchases, then re-engage them throughout their lifecycle.”
AppLovin brings the “right users” to their customers’ app and helps “keep them engaged with AppLovin’s suite of solutions.”
AppLovin’s AI-Boosted Growth and Outlook
AppLovin’s AI-enhanced features are boosting ROI for APP’s clients, leading to surging sales and earnings for AppLovin.
AppLovin posted 17% revenue growth in 2023. This came against slightly higher 2022 revenue, following its massive Covid-boost 2021 where APP roughly doubled its revenue (93% growth). Digital advertising spending has roared back following the 2022 downturn that hit Meta META and tons of others.
AppLovin topped our second quarter 2024 EPS estimate by 16%, marking its fourth-straight double-digit beat. APP grew its adjusted earnings by 305% last quarter, on the back of 44% revenue growth, fueled by 75% Software Platform sales expansion.
AppLovin is projected to grow its sales by 35% in 2024 and add another 14% to the top line next year—to jump from $3.28 billion in FY23 to $5.04 billion in 2025.
AppLovin’s adjusted earnings are projected to skyrocket 253% from $0.98 a share last year to $3.46 a share in 2024 and then climb 28% higher in FY25 to $4.43 a share.
APP’s consensus Zacks earnings estimates have soared roughly 153% for FY24 and 164% for FY25 during the past 12 months. These impressive upward revisions include a 13% jump for 2024 since its Q2 release and 19% improvement for 2025.
AppLovin’s most accurate/most recent EPS estimate for 2025 came in 9% above its greatly improved consensus ($4.81 vs. $4.43). APP’s improved bottom-line outlook helps it earn a Zacks Rank #1 (Strong Buy).
Other Reasons to Buy AppLovin Stock
AppLovin shares have skyrocketed 1,300% since late 2022, crushing Nvidia’s NVDA 720% and Meta’s 400%. APP’s run includes a 250% YTD surge, topping Nvidia’s 150% and Meta’s 66%.
AppLovin stock has ripped 55% higher in the last month to break out to new highs, surpassing its 2021 peaks in the back half of September.
Part of APP's recent run was spurred by a bullish note from Bank of America analyst Omar Dessouky where he reiterated his buy rating and “top pick” designation for AppLovin stock.
APP stock has climbed over 100% since its April 2021 IPO to blow away the Zacks Tech sector’s 45% surge. AppLovin shares might be a tad overheated right now, alongside other growth stocks.
But AppLovin’s valuation is far from overheated. AppLovin trades at a 95% discount to its all-time highs at 32.3X forward 12-month earnings. APP also trades at a 25% discount to its median.
It’s Not Too Late to Buy Soaring AppLovin Stock
APP’s 21-day moving average has provided bullish support throughout its comeback. Market-timers might want to wait for a pullback to APP’s 21-day or 50-day moving averages before pulling the trigger.
That said, long-term investors should benefit from AppLovin’s long-term upside even if they buy after its recent surge.
APP is also buying back its stock. Most crucially, AppLovin’s AI-boosted portfolio is playing a critical role in the highly competitive world of digital apps.
AppLovin helps its customers thrive in a world where countless companies fight for eyeballs, downloads, screentime, and profitable success in our smartphone and app-obsessed world.
Darling Ingredients Inc. repurposes and recycles materials from the animal agriculture and food industries.
Darling Ingredients stock has tumbled over the last several years following its Covid boom. DAR’s drop coincides with its rapidly deteriorating earnings outlook.
Why Investors Might Want to Stay Away from Darling Ingredients
Darling Ingredients takes “materials that would otherwise be wasted” and “transforms them into hundreds of valuable ingredients that the world depends on daily.”
Darling Ingredients collects and transforms all aspects of animal by-product streams and beyond into broadly used and specialty ingredients. The company’s massive portfolio spans an array of offerings that play important roles in key areas of the economy.
DAR produces gelatin, edible fats, feed-grade fats, animal proteins and meals, plasma, pet food ingredients, organic fertilizers, fuel feedstock, green energy, natural casings and hides, and more.
Darling Ingredients posted strong revenue growth over the last few years, including back-to-back years of over 33% revenue growth in 2021 and 2022. DAR’s earnings also soared during that stretch. But that run was nearly impossible to follow as the economy normalized in the post-Covid world.
DAR’s revenue is projected to decline by 12% in 2024. On top of that, its adjusted earnings are projected to plummet 41% from $4.15 a share to $2.45 a share in FY24. DAR’s FY24 consensus 2024 earnings estimate has tumbled 49% over the last year, with its FY25 estimate 33% lower.
Bottom Line on DAR Stock
Darling Ingredients’ most accurate/most recent EPS estimate for 2025 came in 26% below consensus. The company’s downward revisions land Darling Ingredients a Zacks Rank #5 (Strong Sell).
Darling Ingredients last quarter saw some improvements in various business segments. On top of that, CEO Randall Stuewe said its “focus for the balance of the year remains on paying down debt and widening margins through effective cost cutting.”
DAR shares have fallen 48% in the last three years. That said, DAR has soared 100% in the last five years and 433% during the past 15.
Still, investors might not want to call a bottom on Darling Ingredients just yet given its recent downward revisions for FY25.
Additional content:
3 Crypto Stocks with the Most Upside Ahead of the Next Bitcoin Rally
The cryptocurrency market, which was trying to rebound after the Federal Reserve announced a rate cut in September, has again started facing roadblocks. Bitcoin (BTC), which surged past $63,000 in the days following the rate cut announcement, has retreated this week and fell below $60,000.
Several factors have been responsible for this sudden decline. However, Bitcoin still has a lot of potential and the recent decline is temporary. With the Federal Reserve indicating more rate cuts in the near term, the crypto market is poised to benefit.
Given this scenario, it would be ideal to invest in Bitcoin-centric stocks such as Robinhood Markets, Inc., BlackRock, Inc. and CME Group Inc., which have strong growth potential in the near term.
Bitcoin Price Retreats From Recent Highs
Bitcoin was trading at $61,136.95 on Thursday. However, the cryptocurrency had slipped below $60,000 earlier in the day after the second straight day of outflows from the U.S. spot Bitcoin ETFs, down 4.5% from last week.
Bitcoin’s price has now declined for the sixth consecutive day amid the ongoing crisis in the Middle East owing to the Iran-Israel conflict.
Bitcoin’s price remained rangebound under $57,000 following the halving event after the cryptocurrency hit an all-time high of $73,750 on March 14. Bitcoin tried to stage a comeback after the Federal Reserve announced a 50-basis-point rate cut, the first since March 2020. Despite the recent decline, Bitcoin has returned 44.6% year to date.
Cryptocurrency Stocks Poised to Grow
Bitcoin’s sharp rebound from below $60,000 to nearly $61,200 on Thursday follows Federal Reserve Chairman Jerome Powell’s dovish comments. Powell hinted at more rate cuts this year noting that inflation has been steadily declining.
Lower interest rates generally benefit growth assets like cryptocurrencies, as they reduce the opportunity cost of holding assets that don't generate yields. In a low-interest-rate environment, investors tend to look for assets with higher potential returns, even if they involve more risk.
Investors are optimistic about a total rate cut of 50 basis points this year, which is a positive sign for the cryptocurrency market.
3 Crypto Stocks With Growth Potential
Robinhood Markets
Robinhood Markets operates a financial services platform in the United States. Its platform allows users to invest in stocks, exchange-traded funds, options, gold, and cryptocurrencies. HOOD buys and sells Bitcoin, Ethereum, Dogecoin and other cryptocurrencies using its Robinhood Crypto platform.
Robinhood Markets’ expected earnings growth rate for the current year is more than 100%. The Zacks Consensus Estimate for current-year earnings has improved 33.3% over the past 60 days. Robinhood Markets currently sports a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
BlackRock
BlackRock is one of the world’s largest investment managers and is publicly owned. BLK was one of the first companies from the traditional market to join the Bitcoin ETF race back in June 2023.
BlackRock’s expected earnings growth rate for the current year is 9.6%. The Zacks Consensus Estimate for current-year earnings has improved 0.3% over the past 60 days. BlackRock currently carries a Zacks Rank #3.
Find the latest earnings estimates and surprises on Zacks Earnings Calendar.
CME Group
CME Group Inc.’s options give the buyer of the call/put the right to buy/sell cryptocurrency futures contracts at a specific price at some future date. CME offers Bitcoin and ether options based on the exchange's cash-settled standard and micro-Bitcoin and Ethereum futures contracts.
CME Group’s expected earnings growth rate for the current year is 7.3%. The Zacks Consensus Estimate for current-year earnings has improved 1.9% over the last 60 days. CME presently has a Zacks Rank #3.
Why Haven't You Looked at Zacks' Top Stocks?
Since 2000, our top stock-picking strategies have blown away the S&P's +7.0 average gain per year. Amazingly, they soared with average gains of +44.9%, +48.4% and +55.2% per year.
Today you can access their live picks without cost or obligation.
Zacks.com provides investment resources and informs you of these resources, which you may choose to use in making your own investment decisions. Zacks is providing information on this resource to you subject to the Zacks "Terms and Conditions of Service" disclaimer. www.zacks.com/disclaimer.
Past performance is no guarantee of future results. Inherent in any investment is the potential for loss.This material is being provided for informational purposes only and nothing herein constitutes investment, legal, accounting or tax advice, or a recommendation to buy, sell or hold a security. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. It should not be assumed that any investments in securities, companies, sectors or markets identified and described were or will be profitable. All information is current as of the date of herein and is subject to change without notice. Any views or opinions expressed may not reflect those of the firm as a whole. Zacks Investment Research does not engage in investment banking, market making or asset management activities of any securities. These returns are from hypothetical portfolios consisting of stocks with Zacks Rank = 1 that were rebalanced monthly with zero transaction costs. These are not the returns of actual portfolios of stocks. The S&P 500 is an unmanaged index. Visit https://www.zacks.com/performance for information about the performance numbers displayed in this press release.
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AppLovin and Darling Ingredients have been highlighted as Zacks Bull and Bear of the Day
For Immediate Release
Chicago, IL –October 7, 2024 – Zacks Equity Research shares AppLovin Corp. (APP - Free Report) , as the Bull of the Day and Darling Ingredients Inc. (DAR - Free Report) , as the Bear of the Day. In addition, Zacks Equity Research provides analysis on Robinhood Markets, Inc. (HOOD - Free Report) , BlackRock, Inc. (BLK - Free Report) and CME Group Inc. (CME - Free Report) .
Here is a synopsis of all three stocks:
Bull of the Day:
AppLovin Corp. stock is an under-the-radar Wall Street star that’s skyrocketed 1,300% since the end of 2022, blowing away Nvidia and tons of other artificial intelligence darlings grabbing all the headlines.
AppLovin’s impressive earnings growth outlook has APP stock trading at cheap valuation levels even though it has ripped 55% higher in the last month alone.
AppLovin hit fresh highs in September, breaking above its 2021 peaks as the app-monetization company’s earnings outlook soars.
AppLovin is gaining steam as app makers fall in love with its AI-boosted features that help them grow in the hyper-competitive digital app market. And APP’s earnings outlook for 2025 keeps climbing.
Why AppLovin Is a Strong Growth Tech Stock to Buy
AppLovin designs tools to help app developers improve marketing, revenue generation, and beyond to boost profitable expansion.
APP’s products and solutions enable companies and app developers to acquire and keep their ideal users, increase value across a customer’s lifecycle, measure their marketing and reach, and much more.
AppLovin rolled out its enhanced, machine learning and AI engine AXON technology in the second quarter of 2023. In the second quarter of 2024, APP said AXON’s “enhancements through ongoing self-learning” and its “dedicated development efforts have fueled robust business performance.”
APP’s machine learning and AI engine is generating impressive results for AppLovin’s clients across mobile gaming and beyond.
AppLovin boasts that it connects its clients to “audiences in-app, on mobile devices, across CTV, and beyond so your business can do more, accelerate faster, and achieve meaningful growth.”
APP’s portfolio of products and solutions help its customers increase their average revenue per daily user, acquire “valuable” users, increase in-app purchases, scale ad impressions and more.
AppLovin helps its clients hone in on consumers who are “likely to drive in-app purchases, then re-engage them throughout their lifecycle.”
AppLovin brings the “right users” to their customers’ app and helps “keep them engaged with AppLovin’s suite of solutions.”
AppLovin’s AI-Boosted Growth and Outlook
AppLovin’s AI-enhanced features are boosting ROI for APP’s clients, leading to surging sales and earnings for AppLovin.
AppLovin posted 17% revenue growth in 2023. This came against slightly higher 2022 revenue, following its massive Covid-boost 2021 where APP roughly doubled its revenue (93% growth). Digital advertising spending has roared back following the 2022 downturn that hit Meta META and tons of others.
AppLovin topped our second quarter 2024 EPS estimate by 16%, marking its fourth-straight double-digit beat. APP grew its adjusted earnings by 305% last quarter, on the back of 44% revenue growth, fueled by 75% Software Platform sales expansion.
AppLovin is projected to grow its sales by 35% in 2024 and add another 14% to the top line next year—to jump from $3.28 billion in FY23 to $5.04 billion in 2025.
AppLovin’s adjusted earnings are projected to skyrocket 253% from $0.98 a share last year to $3.46 a share in 2024 and then climb 28% higher in FY25 to $4.43 a share.
APP’s consensus Zacks earnings estimates have soared roughly 153% for FY24 and 164% for FY25 during the past 12 months. These impressive upward revisions include a 13% jump for 2024 since its Q2 release and 19% improvement for 2025.
AppLovin’s most accurate/most recent EPS estimate for 2025 came in 9% above its greatly improved consensus ($4.81 vs. $4.43). APP’s improved bottom-line outlook helps it earn a Zacks Rank #1 (Strong Buy).
Other Reasons to Buy AppLovin Stock
AppLovin shares have skyrocketed 1,300% since late 2022, crushing Nvidia’s NVDA 720% and Meta’s 400%. APP’s run includes a 250% YTD surge, topping Nvidia’s 150% and Meta’s 66%.
AppLovin stock has ripped 55% higher in the last month to break out to new highs, surpassing its 2021 peaks in the back half of September.
Part of APP's recent run was spurred by a bullish note from Bank of America analyst Omar Dessouky where he reiterated his buy rating and “top pick” designation for AppLovin stock.
APP stock has climbed over 100% since its April 2021 IPO to blow away the Zacks Tech sector’s 45% surge. AppLovin shares might be a tad overheated right now, alongside other growth stocks.
But AppLovin’s valuation is far from overheated. AppLovin trades at a 95% discount to its all-time highs at 32.3X forward 12-month earnings. APP also trades at a 25% discount to its median.
It’s Not Too Late to Buy Soaring AppLovin Stock
APP’s 21-day moving average has provided bullish support throughout its comeback. Market-timers might want to wait for a pullback to APP’s 21-day or 50-day moving averages before pulling the trigger.
That said, long-term investors should benefit from AppLovin’s long-term upside even if they buy after its recent surge.
APP is also buying back its stock. Most crucially, AppLovin’s AI-boosted portfolio is playing a critical role in the highly competitive world of digital apps.
AppLovin helps its customers thrive in a world where countless companies fight for eyeballs, downloads, screentime, and profitable success in our smartphone and app-obsessed world.
Bear of the Day:
Darling Ingredients Inc. repurposes and recycles materials from the animal agriculture and food industries.
Darling Ingredients stock has tumbled over the last several years following its Covid boom. DAR’s drop coincides with its rapidly deteriorating earnings outlook.
Why Investors Might Want to Stay Away from Darling Ingredients
Darling Ingredients takes “materials that would otherwise be wasted” and “transforms them into hundreds of valuable ingredients that the world depends on daily.”
Darling Ingredients collects and transforms all aspects of animal by-product streams and beyond into broadly used and specialty ingredients. The company’s massive portfolio spans an array of offerings that play important roles in key areas of the economy.
DAR produces gelatin, edible fats, feed-grade fats, animal proteins and meals, plasma, pet food ingredients, organic fertilizers, fuel feedstock, green energy, natural casings and hides, and more.
Darling Ingredients posted strong revenue growth over the last few years, including back-to-back years of over 33% revenue growth in 2021 and 2022. DAR’s earnings also soared during that stretch. But that run was nearly impossible to follow as the economy normalized in the post-Covid world.
DAR’s revenue is projected to decline by 12% in 2024. On top of that, its adjusted earnings are projected to plummet 41% from $4.15 a share to $2.45 a share in FY24. DAR’s FY24 consensus 2024 earnings estimate has tumbled 49% over the last year, with its FY25 estimate 33% lower.
Bottom Line on DAR Stock
Darling Ingredients’ most accurate/most recent EPS estimate for 2025 came in 26% below consensus. The company’s downward revisions land Darling Ingredients a Zacks Rank #5 (Strong Sell).
Darling Ingredients last quarter saw some improvements in various business segments. On top of that, CEO Randall Stuewe said its “focus for the balance of the year remains on paying down debt and widening margins through effective cost cutting.”
DAR shares have fallen 48% in the last three years. That said, DAR has soared 100% in the last five years and 433% during the past 15.
Still, investors might not want to call a bottom on Darling Ingredients just yet given its recent downward revisions for FY25.
Additional content:
3 Crypto Stocks with the Most Upside Ahead of the Next Bitcoin Rally
The cryptocurrency market, which was trying to rebound after the Federal Reserve announced a rate cut in September, has again started facing roadblocks. Bitcoin (BTC), which surged past $63,000 in the days following the rate cut announcement, has retreated this week and fell below $60,000.
Several factors have been responsible for this sudden decline. However, Bitcoin still has a lot of potential and the recent decline is temporary. With the Federal Reserve indicating more rate cuts in the near term, the crypto market is poised to benefit.
Given this scenario, it would be ideal to invest in Bitcoin-centric stocks such as Robinhood Markets, Inc., BlackRock, Inc. and CME Group Inc., which have strong growth potential in the near term.
Bitcoin Price Retreats From Recent Highs
Bitcoin was trading at $61,136.95 on Thursday. However, the cryptocurrency had slipped below $60,000 earlier in the day after the second straight day of outflows from the U.S. spot Bitcoin ETFs, down 4.5% from last week.
Bitcoin’s price has now declined for the sixth consecutive day amid the ongoing crisis in the Middle East owing to the Iran-Israel conflict.
Bitcoin’s price remained rangebound under $57,000 following the halving event after the cryptocurrency hit an all-time high of $73,750 on March 14. Bitcoin tried to stage a comeback after the Federal Reserve announced a 50-basis-point rate cut, the first since March 2020. Despite the recent decline, Bitcoin has returned 44.6% year to date.
Cryptocurrency Stocks Poised to Grow
Bitcoin’s sharp rebound from below $60,000 to nearly $61,200 on Thursday follows Federal Reserve Chairman Jerome Powell’s dovish comments. Powell hinted at more rate cuts this year noting that inflation has been steadily declining.
Lower interest rates generally benefit growth assets like cryptocurrencies, as they reduce the opportunity cost of holding assets that don't generate yields. In a low-interest-rate environment, investors tend to look for assets with higher potential returns, even if they involve more risk.
Investors are optimistic about a total rate cut of 50 basis points this year, which is a positive sign for the cryptocurrency market.
3 Crypto Stocks With Growth Potential
Robinhood Markets
Robinhood Markets operates a financial services platform in the United States. Its platform allows users to invest in stocks, exchange-traded funds, options, gold, and cryptocurrencies. HOOD buys and sells Bitcoin, Ethereum, Dogecoin and other cryptocurrencies using its Robinhood Crypto platform.
Robinhood Markets’ expected earnings growth rate for the current year is more than 100%. The Zacks Consensus Estimate for current-year earnings has improved 33.3% over the past 60 days. Robinhood Markets currently sports a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
BlackRock
BlackRock is one of the world’s largest investment managers and is publicly owned. BLK was one of the first companies from the traditional market to join the Bitcoin ETF race back in June 2023.
BlackRock’s expected earnings growth rate for the current year is 9.6%. The Zacks Consensus Estimate for current-year earnings has improved 0.3% over the past 60 days. BlackRock currently carries a Zacks Rank #3.
Find the latest earnings estimates and surprises on Zacks Earnings Calendar.
CME Group
CME Group Inc.’s options give the buyer of the call/put the right to buy/sell cryptocurrency futures contracts at a specific price at some future date. CME offers Bitcoin and ether options based on the exchange's cash-settled standard and micro-Bitcoin and Ethereum futures contracts.
CME Group’s expected earnings growth rate for the current year is 7.3%. The Zacks Consensus Estimate for current-year earnings has improved 1.9% over the last 60 days. CME presently has a Zacks Rank #3.
Why Haven't You Looked at Zacks' Top Stocks?
Since 2000, our top stock-picking strategies have blown away the S&P's +7.0 average gain per year. Amazingly, they soared with average gains of +44.9%, +48.4% and +55.2% per year.
Today you can access their live picks without cost or obligation.
See Stocks Free >>
Media Contact
Zacks Investment Research
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Zacks.com provides investment resources and informs you of these resources, which you may choose to use in making your own investment decisions. Zacks is providing information on this resource to you subject to the Zacks "Terms and Conditions of Service" disclaimer. www.zacks.com/disclaimer.
Past performance is no guarantee of future results. Inherent in any investment is the potential for loss.This material is being provided for informational purposes only and nothing herein constitutes investment, legal, accounting or tax advice, or a recommendation to buy, sell or hold a security. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. It should not be assumed that any investments in securities, companies, sectors or markets identified and described were or will be profitable. All information is current as of the date of herein and is subject to change without notice. Any views or opinions expressed may not reflect those of the firm as a whole. Zacks Investment Research does not engage in investment banking, market making or asset management activities of any securities. These returns are from hypothetical portfolios consisting of stocks with Zacks Rank = 1 that were rebalanced monthly with zero transaction costs. These are not the returns of actual portfolios of stocks. The S&P 500 is an unmanaged index. Visit https://www.zacks.com/performance for information about the performance numbers displayed in this press release.