AppLovin Shares Soar as Artificial Intelligence (AI) Drives Huge Revenue Surge. Up Nearly 400% in the Past Year, Is It Too Late to Buy the Stock? [Yahoo! Finance]
Applovin Corporation - Class A (APP)
Company Research
Source: Yahoo! Finance
The stock has been one of the market's standout performers over the past year, up nearly 400%. Let's look at what has been driving the company's success, if it can continue, and whether it is too late to buy the stock. Impressive Q1 results AppLovin's fortunes changed for the better after the company released its Axon 2 artificial intelligence (AI)-based advertising technology in Q2 of last year. Since the release of Axon 2, AppLovin has seen its quarterly software platform revenue growth accelerate each quarter. Its most-recent quarter was no exception, with software platform revenue soaring 91% to a record $678 million, up from 88% growth in Q4. The company's legacy apps business, meanwhile, saw revenue rise 5% to $380 million. The strong revenue growth has translated into big jumps in profitability as well. In Q1, AppLovin's net income went from a loss of $4.5 million to a profit of $236 million. Adjusted earnings before interest, taxes, depreciation, and amortization ( E
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News
- AppLovin Co. (NASDAQ: APP) had its price target raised by analysts at BTIG Research from $150.00 to $202.00. They now have a "buy" rating on the stock.MarketBeat
- Take-Two Interactive ticks higher on report it's in talks to sell adtech division Oct. 30, 2024 3:04 PM ET By: Joshua Fineman , SA News Editor [Seeking Alpha]Seeking Alpha
- AppLovin Co. (NASDAQ: APP) is now covered by analysts at Wells Fargo & Company. They set an "overweight" rating and a $200.00 price target on the stock.MarketBeat
- AppLovin Co. (NASDAQ: APP) had its price target raised by analysts at Stifel Nicolaus from $100.00 to $185.00. They now have a "buy" rating on the stock.MarketBeat
- AppLovin Co. (NASDAQ: APP) had its price target raised by analysts at Oppenheimer Holdings Inc. from $105.00 to $180.00. They now have an "outperform" rating on the stock.MarketBeat
APP
Earnings
- 8/7/24 - Beat
APP
Sec Filings
- 10/21/24 - Form SC
- 10/17/24 - Form 4
- 10/17/24 - Form 4
- APP's page on the SEC website