On August 4, AppLovin Corporation rose 3.33% in regular trading, trading at $419.2 USD/share, with turnover of $50.23 million.
On the news front, UBS raised its target price on AppLovin from $750 to $798 while maintaining a Buy rating, providing a fresh catalyst ahead of the company's Q2 earnings release scheduled for August 5 after market close. Wedbush previously issued a research note projecting Q2 revenue of approximately $1.97 billion and adjusted EBITDA of approximately $1.66 billion, both expected to exceed company guidance. Wedbush further forecasts 4%-6% sequential revenue growth for Q3. Market consensus expects Q2 EPS of $3.72, representing approximately 64.6% year-over-year growth. The current Wall Street average target price stands at approximately $668, implying significant upside from the current share price, reflecting broadly bullish institutional sentiment.
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