Apollo Global Management, Inc. (APO): what caused a melt-up today?

An interesting stock that came up in some of our conversations today is Apollo Global Management, Inc. (NYSE:APO). At current price of $43.95, the shares have already added 1.13 points (2.64% higher) from its previous close of $42.82. Should you buy or avoid them? The stock sets an active trading volume day with a reported 513238 contracts so far this session. APO shares had a relatively better volume day versus average trading capacity of 2.6 million shares, but with a 0.2 billion float and a -0.95% run over a week, it’s definitely worth keeping an eye on. The one year price forecast for APO stock indicates that the average analyst price target is $47.63 per share. This means the stock has a potential increase of 8.37% from where the APO share price has been trading recently which is between $42 and $42.88.

During the recent trading session for Apollo Global Management, Inc. (NYSE:APO), the company witnessed their stock rise $0.71 over a week and surge $0.26 from the price 20 days ago. When compared to their established 52-week high of $44.37, the high they recorded in their recent session happens to be lower. Their established 52-week high was attained by the company on 11/29/19. The recent low of $22.63 stood for a -0.95% since 12/20/18, a data which is good for most investors who are looking to take advantage of the stock’s recent rise. A beta of 1.5 is also allocated to the stock. Since the beta is greater than one, it implies that the stock is more volatile than the market, a data that traders are keeping close attention to.

Looking at the current readings for Apollo Global Management, Inc., the two-week RSI stands at 62.26. This figure suggests that APO stock, for now, is neutral, meaning that the shares are stable in terms of price movement. The stochastic readings, on the other hand, based on the current APO readings is similarly very revealing as it has a stochastic reading of 54.2% at this stage. This figure means that APO share price today is being neutral.

Technical chart claims that Apollo Global Management, Inc. (APO) would settle between $43.13/share to $43.45/share level. However, if the stock price goes below the $42.25 mark, then the market for Apollo Global Management, Inc. becomes much weaker. If that happens, the stock price might even plunge as low as $41.69 for its downside target. The stock is currently in the green zone of MACD, with the indicator reading 0.05. Traders are always alerted for the move of a stock above or below the zero line due to the fact that the reading is an indicator of the position of the short-term average relative to the long-term average. If the MACD is above the zero line, then the short-term average relative is above that of the long-term average, thus implying an upward momentum. Vice versa is the case if the MACD is below the zero line.

Analysts at BMO Capital Markets, assumed coverage of APO assigning Outperform rating, according to their opinion released on October 08. BofA/Merrill analysts again handed out a Buy recommendation to Apollo Global Management, Inc. (NYSE:APO) stock but they lifted target price for the shares in a flash note issued to investors on September 23. The target price has been raised from $40 to $46. Analysts at Barclays, made their first call for the equity with a Overweight recommendation, according to a research note that dated back to August 05.

APO equity has an average rating of 2.1, with the figure leaning towards a bullish end. 14 analysts who tracked the company were contacted by Reuters. Amongst them, 2 rated the stock as a hold while the remaining 12 were split even though not equally. Some analysts rate the stock as a buy or a strong buy while no rated it as a sell. 12 analysts rated Apollo Global Management, Inc. (NYSE:APO) as a buy or a strong buy while not a single analyst advised that investors should desist from purchasing the stock or sell them if they already own the company’s stock.

Moving on, APO stock price is currently trading at 14.74X forward 12-month Consensus EPS estimates, and its P/E ratio is 20.8 while for the average stock in the same group, the multiple is 17.3. Apollo Global Management, Inc. current P/B ratio of 14.3 means it is trading at a premium against its industry’s 1.6.

Apollo Global Management, Inc. (APO)’s current-quarter revenues are projected to climb by nearly -773.6% to hit $700630, based on current consensus estimate. The firm’s full-year revenues are expected to expand by over 100.6% from $1.02 billion to a noteworthy $2.05 billion. At the other end of the current quarter income statement, Apollo Global Management, Inc. is expected to see its adjusted earnings surge by roughly 171.3% to hit $0.72 per share. For the fiscal year, APO’s earnings are projected to climb by roughly 1204.8% to hit $2.32 per share.