AppLovin (APP) Beats Stock Market Upswing: What Investors Need to Know

AppLovin (APP) closed at $354.93 in the latest trading session, marking a +1.22% move from the prior day. This change outpaced the S&P 500's 0.55% gain on the day. Meanwhile, the Dow lost 0.06%, and the Nasdaq, a tech-heavy index, added 1.24%.Investors will be eagerly watching for the performance of AppLovin in its upcoming earnings disclosure. The company is expected to report EPS of $1.27, up 159.18% from the prior-year quarter. Alongside, our most recent consensus estimate is anticipating revenue of $1.26 billion, indicating a 31.88% upward movement from the same quarter last year.Investors should also note any recent changes to analyst estimates for AppLovin. These revisions help to show the ever-changing nature of near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.Our research shows that these estimate changes are directly correlated with near-term stock prices. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate remained stagnant. AppLovin is currently a Zacks Rank #1 (Strong Buy).In terms of valuation, AppLovin is presently being traded at a Forward P/E ratio of 59.49. This indicates a premium in contrast to its industry's Forward P/E of 25.08.We can also see that APP currently has a PEG ratio of 2.97. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. The Technology Services industry had an average PEG ratio of 1.54 as trading concluded yesterday.The Technology Services industry is part of the Business Services sector. This industry currently has a Zacks Industry Rank of 61, which puts it in the top 25% of all 250+ industries.The Zacks Industry Rank assesses the vigor of our specific industry groups by computing the average Zacks Rank of the individual stocks incorporated in the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.You can find more information on all of these metrics, and much more, on Zacks.com.Research Chief Names "Single Best Pick to Double"From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.This company targets millennial and Gen Z audiences, generating nearly $1 billion in revenue last quarter alone. A recent pullback makes now an ideal time to jump aboard. Of course, all our elite picks aren’t winners but this one could far surpass earlier Zacks’ Stocks Set to Double like Nano-X Imaging which shot up +129.6% in little more than 9 months.Free: See Our Top Stock And 4 Runners UpWant the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report AppLovin Corporation (APP): Free Stock Analysis ReportTo read this article on Zacks.com click here.Zacks Investment ResearchWeiter zum vollständigen Artikel bei Zacks Weiter zum vollständigen Artikel bei Zacks