AppLovin (APP) Stock Overview
Provides end-to-end artificial intelligence-powered advertising solutions for businesses in the United States and internationally. More details
| Snowflake Score | |
|---|---|
| Valuation | 4/6 |
| Future Growth | 6/6 |
| Past Performance | 5/6 |
| Financial Health | 5/6 |
| Dividends | 0/6 |
Last Earnings Call
Q2 2026 · 5 Aug 2026AppLovin reported Q2 2026 revenue of $1.92 billion (up 53% YoY) and adjusted EBITDA of $1.61 billion (up 58% YoY). Both results fell slightly short of guidance due to the timing of model improvements. Management noted that the next iteration of model performance was deployed shortly after the quarter ended, reaccelerating the business. The consumer vertical hit record spend, up 28% from Q4 2025 levels.
Analyst Estimates vs. Actuals:
- Revenue: Consensus was $1.95 billion. Miss.
- EPS: Consensus was $1.15. Miss. (Reported $1.09).
Management remains optimistic, citing healthy advertiser demand and a strong start to Q3. They guided Q3 2026 revenue to $2.055–$2.085 billion and adjusted EBITDA to $1.71–$1.74 billion, fueled by recent model upgrades, continued consumer scaling, and seasonal trends.
Market Reaction
AppLovin shares fell approximately 8% in after-hours trading on August 5, 2026. Analysts primarily cited the revenue and EBITDA miss and the commentary regarding "lighter than normal" model performance improvements as the main drivers for the negative sentiment.
APP Community Fair Values
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Analyst Price Targets
Top Community Narratives
AppLovin Corporation Competitors
Price History & Performance
| Historical stock prices | |
|---|---|
| Current Share Price | US$346.80 |
| 52 Week High | US$745.61 |
| 52 Week Low | US$332.19 |
| Beta | 2.53 |
| 1 Month Change | -31.59% |
| 3 Month Change | -27.51% |
| 1 Year Change | -23.94% |
| 3 Year Change | 791.75% |
| 5 Year Change | 514.24% |
| Change since IPO | 431.90% |
Recent News & Updates
Narrative Update • Aug 06
APP: Buybacks And Officer Exculpation Will Support Post Selloff Recovery
Analysts have trimmed their fair value estimate for AppLovin from about $852.42 to $813.93 as they apply a higher discount rate and slightly adjust long term assumptions on revenue growth, profit margin and future P/E expectations. What’s in the News for AppLovin AppLovin reported Q2 revenue of about US$1.92b versus Wall Street estimates of US$1.94b, while earnings per share of US$3.76 came in above the estimated US$3.67.Seeking Alpha • Aug 06
AppLovin: A Dip We Were All Waiting For (Rating Upgrade)
Summary AppLovin Corporation delivered a robust quarter with 52.4% revenue growth and an 83.8% adjusted EBITDA margin, yet shares sold off sharply on modest headline misses. APP's balance sheet is strong, with $3B cash, $3.5B debt, and a 29x interest coverage ratio, supporting continued self-funded growth. Opening AXON Ads to self-serve expands TAM, targeting $7B in first-year ad spend from new verticals beyond gaming, including fintech and CTV. I upgrade APP to Buy, viewing the post-earnings dip as a compelling long-term entry point given high profitability and ongoing product momentum. Read the full article on Seeking AlphaRecent updates
Narrative Update • Aug 06
APP: Buybacks And Officer Exculpation Will Support Post Selloff Recovery
Analysts have trimmed their fair value estimate for AppLovin from about $852.42 to $813.93 as they apply a higher discount rate and slightly adjust long term assumptions on revenue growth, profit margin and future P/E expectations. What’s in the News for AppLovin AppLovin reported Q2 revenue of about US$1.92b versus Wall Street estimates of US$1.94b, while earnings per share of US$3.76 came in above the estimated US$3.67.Seeking Alpha • Aug 06
AppLovin: A Dip We Were All Waiting For (Rating Upgrade)
Summary AppLovin Corporation delivered a robust quarter with 52.4% revenue growth and an 83.8% adjusted EBITDA margin, yet shares sold off sharply on modest headline misses. APP's balance sheet is strong, with $3B cash, $3.5B debt, and a 29x interest coverage ratio, supporting continued self-funded growth. Opening AXON Ads to self-serve expands TAM, targeting $7B in first-year ad spend from new verticals beyond gaming, including fintech and CTV. I upgrade APP to Buy, viewing the post-earnings dip as a compelling long-term entry point given high profitability and ongoing product momentum. Read the full article on Seeking Alpha
Narrative Update • Jul 11
APP: AI Advertising Expansion And Buybacks Will Shape Balanced 2026 Return Profile
Analysts raised their AppLovin price target by about $11 to $469, citing updated assumptions for fair value, discount rate, revenue, profit margin and future P/E that collectively support a slightly higher valuation framework. What’s in the News for AppLovin Raymond James initiated coverage of AppLovin with a Strong Buy rating and a US$640 price target, highlighting the company’s push beyond mobile gaming into e commerce advertising through its AXON AI platform, which was recently opened globally as AppLovin Ads.Narrative Update • Jun 27
APP: AI Ad Platform Launch And Buybacks Will Support Measured 2026 Return Potential
Analysts have modestly raised their fair value estimate for AppLovin from $429.35 to $458.24, citing updated assumptions for revenue growth, discount rate, profit margin, and future P/E that feed into refreshed price target models. What’s in the News for AppLovin AppLovin reported Q1 2026 revenue of US$1.84b and adjusted EPS of US$3.56, with an adjusted EBITDA margin of about 85% and net income of roughly US$1.2b, driven by its AI powered AXON 2.0 advertising platform and strength in both mobile gaming and newer consumer and e commerce verticals.
Narrative Update • Jun 13
APP: AI Advertising Rollout And Buybacks Will Support Further Upside
Analysts now set a slightly higher price target for AppLovin at $648.10, compared with the prior $646.86. The adjustment is tied to updated fair value estimates, discount rate assumptions, revenue growth expectations, profit margin outlook, and a projected future P/E of 30.99x.Narrative Update • May 30
APP: Ongoing Buybacks And Officer Exculpation Will Support Future Upside
Analysts have slightly reduced their fair value estimate for AppLovin from about $860 to roughly $852 per share, citing updated assumptions for revenue growth, profit margins, discount rate, and future P/E that modestly reset the stock's risk and reward profile. What's in the News From January 1, 2026 to March 31, 2026, AppLovin repurchased 2,170,000 shares, or 0.64% of its stock, for US$1,004.46m under its existing buyback program, bringing total repurchases under the plan announced on February 28, 2022 to 79,469,556 shares, or 22.26%, for US$5,595.52m (Key Developments).Narrative Update • May 14
APP: Ongoing Buybacks Will Support Future Upside At Current Pricing
Analysts are keeping their $860.00 price target for AppLovin unchanged, citing adjustments to the discount rate, revenue growth, profit margin, and future P/E assumptions that largely offset each other in their updated models. What's in the News From January 1, 2026 to March 31, 2026, AppLovin repurchased 2,170,000 shares, representing 0.64%, for US$1,004.46m.
New Narrative • May 13
AXON's E-Commerce Expansion Will Unlock AppLovin's Next Growth Chapter
AppLovin has quietly built one of the most profitable AI software platforms in the public markets. The core thesis is simple: AXON, the company's proprietary AI advertising engine, is expanding beyond its proven mobile gaming foundation into e-commerce — a transition that could dramatically expand the total addressable market and re-rate the stock.Narrative Update • Apr 29
APP: Share Repurchases Will Support Future Upside At Current Pricing
Analysts now see AppLovin's fair value holding at $860, with a slightly lower discount rate, a modestly higher revenue growth outlook near 40%, a stable profit margin around 72%, and a marginally lower future P/E closer to 34. Together, these factors support a steady price target narrative rather than a major reset.Narrative Update • Apr 15
APP: Ongoing Buybacks And Strong 2026 Guidance Will Support Further Upside
Analysts have trimmed their average price target for AppLovin slightly, by about $5 per share. This reflects updated assumptions around fair value, discount rate, revenue growth, profit margin, and future P/E that remain broadly consistent with prior views.Narrative Update • Apr 01
APP: Share Buybacks And 2026 Revenue Outlook Will Support Balanced Return Potential
Analysts have lowered their price target on AppLovin from $476.89 to $429.35, citing updated assumptions for revenue growth, profit margins, and a reduced future P/E multiple as the main factors behind the revision. What's in the News AppLovin reported that between October 1, 2025 and December 31, 2025 it repurchased 660,000 shares, representing 0.19% of its shares, for US$409.49 million under its ongoing buyback program (Key Developments).Narrative Update • Mar 18
APP: Share Repurchases And Margin Outlook Will Drive Future Upside
Analysts now see higher upside for AppLovin, lifting the fair value estimate from $650.00 to $860.00 as they factor in updated assumptions for revenue growth, profit margins, and future P/E levels. What's in the News AppLovin completed a buyback tranche between October 1, 2025 and December 31, 2025, repurchasing 660,000 shares for $409.49 million, equal to 0.19% of its shares under the existing program (Key Developments).Narrative Update • Mar 04
APP: Higher 2026 Guidance And Strong Margins Will Support Further Upside
Analysts have lowered their AppLovin price target to $651.43 from $737.21 as they incorporate updated assumptions around revenue growth, profit margins and a reduced future P/E multiple, which reflects a more balanced view of the company’s risk and return profile. What's in the News AppLovin issued earnings guidance for the first quarter of 2026, with total revenue expected to be in the range of $1.745 billion to $1.775 billion (Key Developments).Narrative Update • Feb 17
APP: Higher 2026 Revenue Outlook And Rich Margins Will Support Upside Potential
Analysts have adjusted their price target on AppLovin to $476.89 from $530.78, citing updated assumptions around revenue growth, profit margins, and future P/E multiples. What's in the News AppLovin issued new earnings guidance for the first quarter of 2026, setting expected total revenue in a range of US$1.745b to US$1.775b (Key Developments).Analysis Article • Feb 04
AppLovin Corporation (NASDAQ:APP) Shares Slammed 25% But Getting In Cheap Might Be Difficult Regardless
AppLovin Corporation ( NASDAQ:APP ) shareholders that were waiting for something to happen have been dealt a blow with...Narrative Update • Feb 03
APP: Ongoing Buybacks And Rich Margins Will Likely Keep Shares Rangebound
Analysts now see lower upside for AppLovin, trimming their price expectations from about US$544.25 to roughly US$530.78, citing updated assumptions around discount rates, revenue growth, profit margins, and future P/E levels. What's in the News AppLovin issued earnings guidance for the fourth quarter of 2025, with expected revenue in a range of US$1,570m to US$1,600m.Narrative Update • Jan 20
APP: Heavy Buybacks And Lofty Margins Will Likely Cap Future Upside
Analysts have nudged their fair value estimate for AppLovin to $544.25, a modest move from $538.97. The change reflects refreshed assumptions around revenue growth, profit margins, discount rate and future P/E multiples.Narrative Update • Jan 06
APP: Rich Buybacks And Margin Assumptions Will Likely Overstretch Future Returns
Analysts have lifted their price target on AppLovin from US$318.43 to US$538.97, citing updated assumptions around revenue growth, profit margins and future P/E. They now view these assumptions as more supportive of a higher fair value range.Analysis Article • Dec 19
Subdued Growth No Barrier To AppLovin Corporation (NASDAQ:APP) With Shares Advancing 31%
AppLovin Corporation ( NASDAQ:APP ) shares have had a really impressive month, gaining 31% after a shaky period...Narrative Update • Dec 17
APP: Share Repurchases And Index Additions Will Support Future Measured Upside
Analysts have raised their price target on AppLovin by about 9 dollars to roughly 737 dollars per share, citing slightly stronger long term revenue growth assumptions and a modest uptick in expected valuation multiples, despite a marginally lower projected profit margin. What's in the News AppLovin completed a major share repurchase tranche, buying back 1,187,000 shares in the third quarter of 2025.Narrative Update • Dec 03
APP: Expanded Share Repurchases Will Drive Future Bullish Momentum
Analysts have modestly raised their price target on AppLovin by about 1 percent to approximately 728.25 dollars, citing slightly stronger expected revenue growth, marginally improved profit margins, and a still elevated but easing future earnings multiple. What's in the News AppLovin expanded its share repurchase activity, completing the buyback of 76.6 million shares, or about 21.4% of shares outstanding, for roughly 4.18 billion dollars, including 1.19 million shares repurchased in the latest quarter for 510.29 million dollars (company buyback update).Narrative Update • Nov 19
APP: Share Buyback Authorization Will Drive Increased Bullish Momentum
Analysts have raised their price target for AppLovin from $649.96 to $718.71, citing improved profit margins and a lower discount rate as key drivers for the updated valuation. What's in the News AppLovin completed the repurchase of over 76.6 million shares, representing 21.42% of its outstanding shares for $4.18 billion.Narrative Update • Nov 01
APP: Index Additions And Profit Margin Gains Will Shape Outlook
Analysts have slightly raised their price target for AppLovin from $646.30 to $649.96, citing expectations for higher revenue growth and improved profit margins in the future. What's in the News AppLovin has been added to several major indices, including the S&P Global 1200, S&P 500 Growth, S&P Composite 1500, and S&P 500 (Key Developments) The company was added to the S&P 500 Equal Weighted and S&P 500 Software & Services (Industry Group) indices (Key Developments) AppLovin was removed from the Russell Small Cap Comp Growth Index (Key Developments) The company repurchased 732,000 shares, bringing the total buyback to over 75 million shares under the program announced in 2022 (Key Developments) Earnings guidance for the third quarter of 2025 was provided, with expected revenue between $1,320 million and $1,340 million (Key Developments) Valuation Changes Consensus Analyst Price Target has risen slightly from $646.30 to $649.96.Narrative Update • Oct 18
AXON And Shopify Integration Will Unlock Global Mobile Advertising
Narrative Update: AppLovin Analyst Price Target Revised Upward Analysts have raised their fair value price target for AppLovin from $613.59 to $646.30, citing improved revenue growth projections and a slight increase in expected profit margins. What's in the News AppLovin Corporation was added to the S&P Global 1200 index (Key Developments) AppLovin joined the S&P 500 Equal Weighted index (Key Developments) The company was dropped from the Russell Small Cap Comp Growth Index (Key Developments) A repurchase of 732,000 shares was completed between April and June 2025, marking over 21% completed under the buyback program (Key Developments) The company issued earnings guidance for the third quarter of 2025, with expected revenue between $1,320 million and $1,340 million (Key Developments) Valuation Changes Consensus Analyst Price Target increased from $613.59 to $646.30, reflecting a higher valuation outlook.Narrative Update • Oct 03
AXON And Shopify Integration Will Unlock Global Mobile Advertising
AppLovin's analyst price target has been revised upward by analysts, increasing from $517.81 to $613.59. This reflects continued optimism about the company's revenue growth and future earnings outlook.Narrative Update • Sep 17
AXON And Shopify Integration Will Unlock Global Mobile Advertising
The upward revision in AppLovin’s price target reflects a modest increase in its expected future P/E multiple while revenue growth forecasts remain largely unchanged, resulting in a new consensus target of $517.81. What's in the News Repurchased 732,000 shares for $270.03 million from April to June, completing the buyback of 75.45 million shares (21.07%) for $3.67 billion.Analysis Article • Sep 05
Investors Appear Satisfied With AppLovin Corporation's (NASDAQ:APP) Prospects As Shares Rocket 32%
AppLovin Corporation ( NASDAQ:APP ) shares have had a really impressive month, gaining 32% after a shaky period...Narrative Update • Sep 02
AXON And Shopify Integration Will Unlock Global Mobile Advertising
AppLovin’s valuation outlook remains stable, with both its future P/E and discount rate essentially unchanged, resulting in only a slight increase in the consensus analyst price target from $493.19 to $499.14. What's in the News Repurchased 732,000 shares for $270.03 million, completing 75,452,556 shares or 21.07% under the buyback program since February 2022.Shareholder Returns
| APP | US Media | US Market | |
|---|---|---|---|
| 7D | -12.4% | -2.7% | 4.2% |
| 1Y | -23.9% | -13.2% | 20.6% |
Return vs Industry: APP underperformed the US Media industry which returned -13.2% over the past year.
Return vs Market: APP underperformed the US Market which returned 20.6% over the past year.
Price Volatility
| APP volatility | |
|---|---|
| APP Average Weekly Movement | 11.1% |
| Media Industry Average Movement | 9.4% |
| Market Average Movement | 7.2% |
| 10% most volatile stocks in US Market | 16.2% |
| 10% least volatile stocks in US Market | 3.1% |
Stable Share Price: APP's share price has been volatile over the past 3 months compared to the US market.
Volatility Over Time: APP's weekly volatility (11%) has been stable over the past year, but is still higher than 75% of US stocks.
About the Company
| Founded | Employees | CEO | Website |
|---|---|---|---|
| 2011 | 887 | Adam Foroughi | www.applovin.com |
AppLovin Corporation provides end-to-end artificial intelligence-powered advertising solutions for businesses in the United States and internationally. It operates through two segments, Advertising and Apps. The company offers Axon Ads Manager, a suite of marketing solutions that enables developers to automate, optimize, and manage marketing efforts; MAX, an in-app bidding technology that optimizes the value of a publisher’s advertising inventory by running a real-time competitive auction; Adjust, a measurement and analytics marketing platform; and Wurl, a connected TV platform, which distributes streaming video for content companies, provides advertising and publishing solutions.
AppLovin Corporation Fundamentals Summary
| APP fundamental statistics | |
|---|---|
| Market cap | US$116.06b |
| Earnings (TTM) | US$4.41b |
| Revenue (TTM) | US$6.83b |
26.3x
P/E Ratio17.0x
P/S RatioIs APP overvalued?
See Fair Value and valuation analysisEarnings & Revenue
| APP income statement (TTM) | |
|---|---|
| Revenue | US$6.83b |
| Cost of Revenue | US$787.82m |
| Gross Profit | US$6.04b |
| Other Expenses | US$1.63b |
| Earnings | US$4.41b |
Last Reported Earnings
Jun 30, 2026
Next Earnings Date
n/a
| Earnings per share (EPS) | 13.18 |
| Gross Margin | 88.46% |
| Net Profit Margin | 64.57% |
| Debt/Equity Ratio | 111.1% |
How did APP perform over the long term?
See historical performance and comparisonCompany Analysis and Financial Data Status
| Data | Last Updated (UTC time) |
|---|---|
| Company Analysis | 2026/08/09 00:48 |
| End of Day Share Price | 2026/08/07 00:00 |
| Earnings | 2026/06/30 |
| Annual Earnings | 2025/12/31 |
Data Sources
The data used in our company analysis is from S&P Global Market Intelligence LLC. The following data is used in our analysis model to generate this report. Data is normalised which can introduce a delay from the source being available.
| Package | Data | Timeframe | Example US Source * |
|---|---|---|---|
| Company Financials | 10 years |
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| Analyst Consensus Estimates | +3 years |
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| Market Prices | 30 years |
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| Ownership | 10 years |
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| Management | 10 years |
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| Key Developments | 10 years |
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* Example for US securities, for non-US equivalent regulatory forms and sources are used.
Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more.
Analysis Model and Snowflake
Details of the analysis model used to generate this report is available on our Github page, we also have guides on how to use our reports and tutorials on Youtube.
Learn about the world class team who designed and built the Simply Wall St analysis model.
Industry and Sector Metrics
Our industry and section metrics are calculated every 6 hours by Simply Wall St, details of our process are available on Github.
Analyst Sources
AppLovin Corporation is covered by 48 analysts. 31 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.
| Analyst | Institution |
|---|---|
| David Mak | Arete Research Services LLP |
| Michael Hickey | Benchmark Company |
| Omar Dessouky | BofA Global Research |