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AppLovin Corporation (APP) engages in building a software-based platform for mobile app developers to enhance the marketing and monetization of their apps in the United States and internationally. 
The company's software solutions include AppDiscovery, a marketing software solution, which matches advertiser demand with publisher supply through auctions; Adjust, an analytics platform that helps marketers grow their mobile apps with solutions for measuring, optimizing campaigns, and protecting user data; MAX, an in-app bidding software that optimizes the value of an app's advertising inventory by running a real-time competitive auction; and Wurl, a connected TV platform, which primarily distributes streaming video for content companies.
Its business clients include various advertisers, internet platforms, and others.
On August 9th, APP reported earnings of $0.22 per share on revenue of $750.17 million for the second quarter ended June 2023. The consensus earnings estimate was $0.08 per share on revenue of $723.49 million. The company beat expectations by 100.00% while revenue fell 3.36% compared to the same quarter a year ago.
Guided Higher: The company said it expects third quarter revenue of $780.0 million to $800.0 million. The current consensus revenue estimate is $740.27 million for the quarter ending September 30, 2023.
Shares are heading higher in an upward trading channel and higher share prices are expected.
Entry Point: $40.30
Stop Loss: $38.00
Trading Range: $9.14 to $44.89
Target Price: $44.50
