Why AppLovin Stock Soared 45% This Week [Yahoo! Finance]
Applovin Corporation - Class A (APP)
Company Research
Source: Yahoo! Finance
AppLovin's shares jumped 45% this week, as of this writing, adding to the company's stunning gains over the past year of more than 500%. Start Your Mornings Smarter! Wake up with Breakfast news in your inbox every market day. Sign Up For Free » AppLovin's sales popped 39% in the quarter to $1.2 billion, which outpaced analysts' consensus estimate of $1.13 billion. Similarly, the company's diluted earnings per share of $1.25 easily surpassed Wall Street's consensus estimate of $0.92 per share. The biggest driver of AppLovin's growth came from its artificial intelligence (AI)-powered advertising engine, called Axon, that provides targeted advertising in gaming apps. Management said on AppLovin's earnings call that a combination of self-learning and updates from its engineering team is advancing Axon's targeting capabilities and bringing big steps forward, noting that the company "saw one of those step changes, with meaningful growth driven by advancements" to Axon in the quarter.
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News
- Here is Why Growth Investors Should Buy AppLovin (APP) Now [Yahoo! Finance]Yahoo! Finance
- 3 Top Tech Stocks That Could Make You a Millionaire [Yahoo! Finance]Yahoo! Finance
- AppLovin's Explosive Growth: Still A Buy Despite Recent Price Surge [Seeking Alpha]Seeking Alpha
- AppLovin Co. (NASDAQ: APP) had its price target raised by analysts at Loop Capital from $181.00 to $385.00. They now have a "buy" rating on the stock.MarketBeat
- Are Business Services Stocks Lagging AppLovin (APP) This Year? [Yahoo! Finance]Yahoo! Finance
APP
Earnings
- 11/6/24 - Beat
APP
Sec Filings
- 11/12/24 - Form SC
- 11/12/24 - Form 144
- 11/8/24 - Form SC
- APP's page on the SEC website