The most recent trading session ended with AppLovin (APP) standing at $143.40, reflecting a -0.08% shift from the previouse trading day's closing. The stock trailed the S&P 500, which registered a daily gain of 0.71%. Elsewhere, the Dow saw an upswing of 1.03%, while the tech-heavy Nasdaq appreciated by 0.6%.

Shares of the mobile app technology company have appreciated by 66.43% over the course of the past month, outperforming the Business Services sector's gain of 5.54% and the S&P 500's gain of 6.41%.

The investment community will be paying close attention to the earnings performance of AppLovin in its upcoming release. The company is slated to reveal its earnings on November 6, 2024. The company's upcoming EPS is projected at $0.96, signifying a 220% increase compared to the same quarter of the previous year. In the meantime, our current consensus estimate forecasts the revenue to be $1.13 billion, indicating a 30.65% growth compared to the corresponding quarter of the prior year.

In terms of the entire fiscal year, the Zacks Consensus Estimates predict earnings of $3.46 per share and a revenue of $4.44 billion, indicating changes of +253.06% and +35.18%, respectively, from the former year.

It's also important for investors to be aware of any recent modifications to analyst estimates for AppLovin. These latest adjustments often mirror the shifting dynamics of short-term business patterns. Consequently, upward revisions in estimates express analysts' positivity towards the company's business operations and its ability to generate profits.

Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. 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, ranging from #1 (Strong Buy) to #5 (Strong Sell), possesses a remarkable history of outdoing, externally audited, with #1 stocks returning an average annual gain of +25% since 1988. The Zacks Consensus EPS estimate has moved 0.38% lower within the past month. As of now, AppLovin holds a Zacks Rank of #3 (Hold).

In terms of valuation, AppLovin is currently trading at a Forward P/E ratio of 41.44. This denotes a premium relative to the industry's average Forward P/E of 24.25.

Also, we should mention that APP has a PEG ratio of 2.07. The PEG ratio bears resemblance to the frequently used P/E ratio, but this parameter also includes the company's expected earnings growth trajectory. The Technology Services was holding an average PEG ratio of 1.63 at yesterday's closing price.

The Technology Services industry is part of the Business Services sector. Currently, this industry holds a Zacks Industry Rank of 82, positioning it in the top 33% of all 250+ industries.

The Zacks Industry Rank assesses the strength of our separate industry groups by calculating the average Zacks Rank of the individual stocks contained within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.

Be sure to use Zacks.com to monitor all these stock-influencing metrics, and more, throughout the forthcoming trading sessions.

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