These Analysts Revise Their Forecasts On AppLovin Following Q3 Results

Benzinga Earnings
11/05

AppLovin Corporation (NASDAQ:APP) on Wednesday reported better-than-expected third-quarter financial results and issued its fourth-quarter sales guidance above estimates.

AppLovin reported third-quarter revenue of approximately $2.19 billion, topping analyst expectations of $2.08 billion. The company also posted earnings of $4.30 per share, beating the consensus estimate of $4.07 per share.

For the fourth quarter, AppLovin forecast revenue between $2.365 billion and $2.395 billion, ahead of analyst estimates of $2.25 billion. The company expects adjusted EBITDA to range from $1.995 billion to $2.025 billion.

AppLovin shares jumped 16.5% to $316.50 in pre-market trading

These analysts made changes to their price targets on AppLovin following earnings announcement.

  • BTIG analyst Clark Lampen maintained the stock with a Buy and raised the price target from $396 to $450.
  • Wedbush analyst Alicia Reese maintained the stock with an Outperform rating and raised the price target from $560 to $600.
  • Evercore ISI Group analyst Robert Coolbrith maintained the stock with an Outperform rating and boosted the price target from $510 to $540.
  • Needham analyst Bernie McTernan reiterated the stock with a Buy and maintained a $475 price target.

Considering buying APP stock? Here’s what analysts think:

Photo via Shutterstock

免责声明:投资有风险,本文并非投资建议,以上内容不应被视为任何金融产品的购买或出售要约、建议或邀请,作者或其他用户的任何相关讨论、评论或帖子也不应被视为此类内容。本文仅供一般参考,不考虑您的个人投资目标、财务状况或需求。TTM对信息的准确性和完整性不承担任何责任或保证,投资者应自行研究并在投资前寻求专业建议。

热议股票

  1. 1
     
     
     
     
  2. 2
     
     
     
     
  3. 3
     
     
     
     
  4. 4
     
     
     
     
  5. 5
     
     
     
     
  6. 6
     
     
     
     
  7. 7
     
     
     
     
  8. 8
     
     
     
     
  9. 9
     
     
     
     
  10. 10