Top Analysts See More Room to Run in AppLovin Stock (APP) Even After a 107% YTD Rally

AppLovin defies gravity as analysts double down on bullish calls.

The Growth Engine Keeps Firing

Mobile technology powerhouse AppLovin continues its explosive trajectory, with Wall Street's top voices insisting the 107% year-to-date surge is just the beginning. The company's AI-driven advertising platform delivers unprecedented ROI for developers—cutting customer acquisition costs while boosting lifetime value.

Market Dynamics Fueling the Rally

Advertising technology transforms mobile ecosystems, bypassing traditional marketing bottlenecks. AppLovin's software development kit becomes the invisible infrastructure powering top-grossing apps worldwide—monetizing user engagement without disrupting experience.

Institutional Confidence Builds Momentum

Major funds increase positions, betting on sustainable revenue growth beyond current valuations. The stock's performance outpaces broader tech indices, attracting investors seeking exposure to the high-margin ad tech sector. Because nothing says 'smart money' like chasing a stock after it doubles.

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Aside from AI tailwinds, APP stock has also gained due to its inclusion in the S&P 500 Index ().

Top Analysts Are Upbeat on APP Stock

Kuntarich stated that he continues to view AppLovin stock as a “Top Pick” in his coverage. The 5-star analyst added that over the next 12 months, he expects the company’s demand and supply expansion initiatives to improve the efficacy of its Axon 2.0 AI-powered ad engine and drive estimates and multiple upside.

Additionally, Kuntarich noted that following the Q2 print, web-based advertiser checks indicate robust demand for the referral program and an opportunity to increase visibility among agencies targeting Fortune 1000 brands. Coming to mobile gaming checks, the analyst said, “We don’t see anything indicating APP’s leadership is being challenged.”

Meanwhile, Piper Sandler’s Callahan stated that he is “excited” about the soft launch of AppLovin’s Axon Ads Manager on October 1. He noted that management is confident about the product, which the top-rated analyst thinks is warranted. Callahan highlighted that AppLovin is expanding into a 20 times larger market, with early signs indicating the potential for the company to be a top advertising player. “While we expect the rollout to be challenging and non-linear, excitement seems appropriate,” said Callahan.

Is APP a Good Stock to Buy?

Overall, Wall Street has a Strong Buy consensus rating on AppLovin stock based on 14 Buys and three Holds. The average APP stock price target of $609.38 indicates a possible downside of 9% from current levels.