Applovin (APP)

• Market cap: $125B
• 1 day: 6.38%
• 5 days: 23.14%
• 1 month: 56.78%
• 3 months: -21.53%
• 6 months: 30.34%
• Year to date: 8.29%
• 1 year: 328.51%
• 5 years: 467.64%
• 10 years: 467.64%
• Sector: Technology
• Industry: Software - Application

About: AppLovin is a vertically integrated advertising technology company that acts as a demand-side platform for advertisers, a supply-side platform for publishers, and an exchange facilitating transactions between the two. About 80% of AppLovin's revenue comes from the DSP, AppDiscovery, while the remainder comes from the SSP, Max, and gaming studios, which develop mobile games. AppLovin announced in February 2025 its plans to divest from the lower-margin gaming studios to focus exclusively on the ad tech platform. AppLovin's primary tool for future growth is Axon 2, which is an ad optimizer operating within the DSP that allows advertisers to place ads according to specified return thresholds.

Employees: 1,563

Fund manager confidence

Based on 2024 Q4 regulatory disclosures by fund managers ($100M+ AUM)

626% more first-time investments, than exits

New positions opened: 341 | Existing positions closed: 47

174% more capital invested

Capital invested by funds: $24.1B [Q3] → $66B (+$41.9B) [Q4]

81% more funds holding in top 10

Funds holding in top 10: 36 [Q3] → 65 (+29) [Q4]

77% more call options, than puts

Call options by funds: $6.04B | Put options by funds: $3.4B

40% more funds holding

Funds holding: 689 [Q3] → 966 (+277) [Q4]

6.27% more ownership

Funds ownership: 61.86% [Q3] → 68.13% (+6.27%) [Q4]

31% less repeat investments, than reductions

Existing positions increased: 246 | Existing positions reduced: 356

Research analyst outlook

11 Wall Street Analysts provided 1 year price targets over the past 3 months

• Low target: $355 4% downside
• Avg. target: $486 31% upside
• High target: $650 76% upside

11 analyst ratings

• positive: 9 82%
• neutral: 2 18%
• negative: 0 0%

Goldman Sachs Eric Sheridan 43% 1-year accuracy 25 / 58 met price target	18% upside $435	Neutral Maintained	9 May 2025
UBS John Hodulik 65% 1-year accuracy 15 / 23 met price target	28% upside $475	Buy Maintained	8 May 2025
Piper Sandler James Callahan 40% 1-year accuracy 2 / 5 met price target	23% upside $455	Overweight Maintained	8 May 2025
JP Morgan Cory Carpenter 63% 1-year accuracy 17 / 27 met price target	4% downside $355	Neutral Maintained	8 May 2025
Jefferies James Heaney 86% 1-year accuracy 6 / 7 met price target	43% upside $530	Buy Maintained	8 May 2025