Daiwa Capital Upgrades AppLovin: A Closer Look at Financial Insights
On November 8, 2024, Daiwa Capital upgraded their outlook for AppLovin (MUN:6RV) from Neutral to Outperform.
Sharp Price Forecast Reveals Potential Downside
As of December 21, 2023, the average one-year price target for AppLovin stands at 58.07 €/share. Predictions vary, with estimates ranging from a low of 21.21 € to a high of 96.60 €. This average price target suggests a striking decrease of 73.60% from the latest closing price of 220.00 € / share.
Revenue and Earnings Projections Show Decline
AppLovin’s projected annual revenue is set at 3,854MM, reflecting a decrease of 10.16%. The anticipated annual non-GAAP EPS is 1.65.
Increasing Institutional Interest in AppLovin
Currently, there are 1,204 funds or institutions reporting positions in AppLovin, an increase of 167 owners, or 16.10%, in the last quarter. The average portfolio weight for all funds dedicated to 6RV increased to 0.55%, up by 0.71%. Institutional ownership has grown by 9.38% over the last three months, with total shares owned climbing to 194,816K shares.
GQG Partners currently holds 13,289K shares, representing 4.47% of the company. This is a decrease from their previous holding of 22,646K shares, which shows a significant reduction of 70.41%. The firm has also cut its portfolio allocation in 6RV by 33.50% over the last quarter.
Conversely, Wcm Investment Management increased its holdings to 10,820K shares, now representing 3.64% ownership. This marks a rise from 9,791K shares, an increase of 9.51%. The firm ramped up its portfolio allocation in 6RV by 62.84% over the last quarter.
The Vanguard Total Stock Market Index Fund Investor Shares (VTSMX) holds 6,053K shares, which is 2.04% ownership. This reflects an increase from 4,227K shares, showing a 30.17% rise. Their portfolio allocation in 6RV grew by 67.41% over the last quarter.
Lone Pine Capital currently has 5,702K shares, representing 1.92% ownership, up from 5,320K shares, a 6.71% increase. Their allocation in 6RV has risen by 32.45% in the last quarter.
The Vanguard Small-Cap Index Fund Investor Shares (NAESX) owns 4,821K shares, or 1.62% of the company. This is up from 3,429K shares, which shows an increase of 28.88%. The firm raised its portfolio allocation in 6RV by 77.33% over the last quarter.
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
