AppLovin stock price target raised to $483 from $480 at BTIG

Investing.com - BTIG has raised its price target on AppLovin Corp (NASDAQ:APP) to $483 from $480 while maintaining a Buy rating ahead of the company’s second-quarter earnings report scheduled for August 6. The mobile technology company, which boasts impressive gross profit margins of 77.7% and maintains a "GREAT" financial health score according to InvestingPro, has demonstrated strong operational execution.

The firm cited stronger gaming checks and "largely positive non-gaming reads" as the basis for its estimate adjustments. BTIG noted that these factors prompted the slight increase in its valuation target for the mobile technology company.

BTIG highlighted that since early June, AppLovin shares have underperformed the S&P by approximately a double-digit margin due to various "idiosyncratic and competitive concerns," which the firm characterized as "mostly misguided."

The research note addressed these market concerns but did not alter BTIG’s overall positive outlook on the company. AppLovin remains a "BTIG Top Pick" according to the firm’s analysis.

BTIG expressed a favorable view on the company’s positioning heading into its upcoming earnings announcement, which is scheduled to be released after market close on August 6.

In other recent news, AppLovin Corp is preparing to release its second-quarter 2025 earnings report on August 6. Both Benchmark and Citi have reiterated their Buy ratings on AppLovin stock, with price targets of $525.00 and $600.00, respectively, ahead of the earnings announcement. Scotiabank (TSX:BNS) has also initiated coverage on AppLovin with a Sector Outperform rating and a $430.00 price target, highlighting the company’s strong performance metrics. In another development, Block Inc will be added to the S&P 500 index, replacing Hess Corp (NYSE:HES) following its acquisition by Chevron Corp. (NYSE:CVX) This change is set to take effect before the opening of trading on July 23, 2025. Similarly, The Trade Desk (NASDAQ:TTD) will join the S&P 500 index, replacing ANSYS (NASDAQ:ANSS) Inc, which is being acquired by Synopsys Inc (NASDAQ:SNPS). The Trade Desk’s inclusion will occur before trading begins on July 18, 2025. These recent developments reflect significant changes in the S&P 500 index composition and investor interest in these companies.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.