Applovin Corporation (APP) stock soared to a 52-week high, reaching $92.59, signaling strong investor confidence in the mobile technology company's growth prospects. This peak comes amidst a remarkable year for Applovin, which has seen its stock value surge by 112.59% over the past year. The company's performance reflects a robust demand for its services in the mobile app ecosystem, where it provides solutions that power the marketing, monetization, and analytics for mobile developers. The 52-week high represents a significant milestone for Applovin, underscoring its successful strategies and the positive market reception to its expanding portfolio of products and services.
In other recent news, AppLovin (NASDAQ:APP) Corporation has been in the spotlight with its Q2 financial results and an updated financial outlook from Benchmark. AppLovin posted a significant 44% rise in revenue for Q2, reaching $1.08 billion, with adjusted EBITDA seeing an 80% increase to $601 million. The company's software business also experienced a 5% growth quarter-over-quarter. For Q3, the company projects its revenue to be between $1.115 billion and $1.135 billion and adjusted EBITDA to be in the range of $630 million to $650 million.
Meanwhile, Benchmark has raised its price target for AppLovin from $48 to $66, while maintaining a sell rating for the stock. The firm anticipates the adjusted EBITDA contribution from AppLovin's Software Platform to be below the consensus estimate for 2025, expecting a margin of around 25%, down from the 82% estimated for 2024. This is due to reduced revenue leverage and the impact of lower user acquisition spending in the App segment during Q2. Furthermore, Benchmark expects AppLovin's investment in its e-commerce initiative to place unexpected pressure on margin expectations for 2025.
These are among the recent developments for AppLovin, a company that continues to focus on organic growth, share management, and balance sheet strengthening. It also launched a web advertising program for e-commerce, which showed positive results in its pilot phase, and anticipates its software business to grow by 20% to 30% in the long term.
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