APP: Oppenheimer Calls AppLovin a 'Top Pick' -- Shares Jump to New High

Aug 7 - AppLovin (APP, Financial) surged more than 12% on Thursday after analysts flagged several catalysts supporting stronger revenue and margin growth in upcoming quarters.

Oppenheimer reaffirmed its Outperform rating and $500 price target, calling AppLovin a "top pick." The firm cited rising confidence in the scale-up of e-commerce advertising, now expected to exceed 10% of total ad revenue this year. This outlook is bolstered by the Oct. 1 global rollout of AXON Ad Manager's self-service portal.

Bank of America also reiterated its Buy rating, raising revenue estimates for Q4 2025 and calendar 2026. The upward revisions reflect the reactivation of e-commerce advertisers through a new referral program, broader international audience reach, and expanded availability for small and mid-sized businesses in the first half of 2026.

Benchmark Equity Research maintained its Buy rating and $525 target, citing AXON-driven performance gains and geographic expansion as key growth levers.

AppLovin shares traded at $438.89 in afternoon trading Thursday, marking a new 52-week high.