Jim Cramer on AppLovin: "I Think This is a Mini Google"

AppLovin Corporation (NASDAQ:APP) is one of the stocks Jim Cramer highlighted recently. Cramer believes its earnings could “more than double” this year. He commented:

“This stock spent months rallying relentlessly to the point where it exploded higher yesterday and made another new high today. The last quarter was phenomenal. AppLovin’s earnings should be more than double this year. I don’t even want to tell you what I’m thinking about for next year. Though the stock’s far from cheap at roughly 60 times this year’s earnings estimates, it will turn out to be cheap if we do get the numbers that I’m thinking about for next year. Really interesting pattern here.

I’ve been worried that AppLovin might pull back a bit now that it’s finally added to the S&P 500, something that the shareholder base has been predicting for months, but the darn thing just won’t stop. Lang (chartist Bob Lang) points out that we just got this bullish crossover in the MACD. This is one of the most beautiful crossovers I’ve seen… What can I even say about AppLovin? Stock was up 700% last year. It’s now up about 70% year to date. Lang’s betting it will keep rallying without looking back. I think this is a mini Google.”

AppLovin Corporation (NASDAQ:APP) develops a software-driven platform that supports advertisers and publishers with tools for app marketing, monetization, analytics, and connected TV solutions. In addition, the company provides mobile games through its own and partner studios.

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Disclosure: None. This article is originally published at Insider Monkey.