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AppLovin (APP) Declines More Than Market: Some Information for Investors
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In the latest trading session, AppLovin (APP - Free Report) closed at $171.65, marking a -0.34% move from the previous day. This change lagged the S&P 500's 0.33% loss on the day. Elsewhere, the Dow saw a downswing of 0.22%, while the tech-heavy Nasdaq depreciated by 0.56%.
Heading into today, shares of the mobile app technology company had gained 31.83% over the past month, outpacing the Business Services sector's gain of 1.16% and the S&P 500's gain of 1.83% in that time.
Investors will be eagerly watching for the performance of AppLovin in its upcoming earnings disclosure. The company's earnings report is set to be unveiled on November 6, 2024. The company is forecasted to report an EPS of $0.95, showcasing a 216.67% upward movement from the corresponding quarter of the prior year. Our most recent consensus estimate is calling for quarterly revenue of $1.13 billion, up 30.78% from the year-ago period.
For the annual period, the Zacks Consensus Estimates anticipate earnings of $3.47 per share and a revenue of $4.45 billion, signifying shifts of +254.08% and +35.47%, respectively, from the last year.
Investors should also take note of any recent adjustments to analyst estimates for AppLovin. These revisions help to show the ever-changing nature of near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. To exploit this, we've formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable rating system.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has shifted 0.19% upward. AppLovin is currently a Zacks Rank #2 (Buy).
Investors should also note AppLovin's current valuation metrics, including its Forward P/E ratio of 49.64. This represents a premium compared to its industry's average Forward P/E of 25.56.
One should further note that APP currently holds a PEG ratio of 2.48. The PEG ratio bears resemblance to the frequently used P/E ratio, but this parameter also includes the company's expected earnings growth trajectory. APP's industry had an average PEG ratio of 1.47 as of yesterday's close.
The Technology Services industry is part of the Business Services sector. This industry currently has a Zacks Industry Rank of 54, which puts it in the top 22% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
You can find more information on all of these metrics, and much more, on Zacks.com.
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AppLovin (APP) Declines More Than Market: Some Information for Investors
In the latest trading session, AppLovin (APP - Free Report) closed at $171.65, marking a -0.34% move from the previous day. This change lagged the S&P 500's 0.33% loss on the day. Elsewhere, the Dow saw a downswing of 0.22%, while the tech-heavy Nasdaq depreciated by 0.56%.
Heading into today, shares of the mobile app technology company had gained 31.83% over the past month, outpacing the Business Services sector's gain of 1.16% and the S&P 500's gain of 1.83% in that time.
Investors will be eagerly watching for the performance of AppLovin in its upcoming earnings disclosure. The company's earnings report is set to be unveiled on November 6, 2024. The company is forecasted to report an EPS of $0.95, showcasing a 216.67% upward movement from the corresponding quarter of the prior year. Our most recent consensus estimate is calling for quarterly revenue of $1.13 billion, up 30.78% from the year-ago period.
For the annual period, the Zacks Consensus Estimates anticipate earnings of $3.47 per share and a revenue of $4.45 billion, signifying shifts of +254.08% and +35.47%, respectively, from the last year.
Investors should also take note of any recent adjustments to analyst estimates for AppLovin. These revisions help to show the ever-changing nature of near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. To exploit this, we've formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable rating system.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has shifted 0.19% upward. AppLovin is currently a Zacks Rank #2 (Buy).
Investors should also note AppLovin's current valuation metrics, including its Forward P/E ratio of 49.64. This represents a premium compared to its industry's average Forward P/E of 25.56.
One should further note that APP currently holds a PEG ratio of 2.48. The PEG ratio bears resemblance to the frequently used P/E ratio, but this parameter also includes the company's expected earnings growth trajectory. APP's industry had an average PEG ratio of 1.47 as of yesterday's close.
The Technology Services industry is part of the Business Services sector. This industry currently has a Zacks Industry Rank of 54, which puts it in the top 22% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
You can find more information on all of these metrics, and much more, on Zacks.com.