AppLovin's (APP) stock has surged 126% YTD, showing strong financial performance and growth potential

From NASDAQ.: 2024-08-26 09:50:00

AppLovin Corporation (APP) stock has surged 126.3% year to date, outpacing industry and S&P 500 growth. Compared to competitors like Alphabet Inc. (GOOGL) and Meta Platforms (META), APP’s performance stands out with a 10% growth in the past three months and a 16% increase in the past month alone.

APP closed at $90.2, near its 52-week high, trading above its 50-day moving average. AppLovin’s success is attributed to AXON 2.0 technology, gaming studio expansion, and strategic initiatives leading to strong financial results: 76% revenue increase, 41% rise in adjusted EBITDA, 44% year-over-year revenue growth in Q2 2024.

AppLovin (APP) is poised for further growth despite potential risks. Analysts project 255.1% earnings growth in 2024, with sales expected to increase 35.1%. Stock, though rallying, remains undervalued, trading at 22.9X forward earnings below the industry average, making it a promising investment opportunity for growth-oriented investors.

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AppLovin Corporation (APP) stock continues to surge, offering a compelling buying opportunity with strong financial performance and attractive valuation. Zacks Rank #1 (Strong Buy) highlights analysts’ confidence in the company’s growth potential, making APP a must-buy for investors seeking long-term growth in the in-game mobile advertising industry.



Read more at NASDAQ.: AppLovin’s (APP) Shares Ascend 126% YTD: Must Buy or Bye Bye?