Dernières nouvelles pour AppLovin (NASDAQ:APP) Stock

APPLOVIN CORP-CLASS A

AppLovin

AppLovin is a vertically integrated advertising technology company that acts as a demand-side platform for advertisers, a supply-side platform for publishers, and an exchange facilitating transactions between the two. About 80% of AppLovin's revenue comes from the DSP, AppDiscovery, while the remainder comes from the SSP, Max, and gaming studios, which develop mobile games. AppLovin announced in February 2025 its plans to divest from the lower-margin gaming studios to focus exclusively on the ad tech platform. AppLovin's primary tool for future growth is Axon 2, which is an ad optimizer operating within the DSP that allows advertisers to place ads according to specified return thresholds.

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Needham analyst Bernie McTernan <a target="_blank" href="https://www.benzinga.com/quote/APP/analyst-ratings" rel="noreferrer noopener">reiterated its Hold rating</a> on AppLovin Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/APP#NASDAQ">APP</a>) on Wednesday.
AppLovin&#8217;s primary tool for future growth is <a target="_blank" href="https://www.benzinga.com/insights/analyst-ratings/25/05/45642953/where-applovin-stands-with-analysts" rel="noreferrer noopener">Axon 2</a>, which is an ad optimizer operating within the DSP that allows advertisers to place ads according to specified return thresholds.
In McTernan&#8217;s third AppLovin Ecommerce Tracker, the total number of websites in his sample using Axon grew by +3% compared to last month to 323, which includes 18 gross adds and 7 churns.
Also Read: <a target="_blank" href="https://www.benzinga.com/analyst-ratings/analyst-color/25/05/45323056/applovins-rapid-ad-growth-ai-gains-drive-hike-in-analyst-price-forecast" rel="noreferrer noopener">AppLovin&#8217;s Rapid Ad Growth, AI Gains Drive Hike In Analyst Price Forecast</a>
The seven churned websites were more than the one churn last month, the analyst noted. However, two of the seven companies shut down their businesses, he said in the analyst note.
McTernan said Apparel, Footwear &amp; Accessories was the largest category gainer in the past month, with 10 gross adds and one churn.
The analyst noted that AppLovin announced in December that the company had 600 e-commerce brands and a $1 billion ad spend run rate.
Given the relatively modest growth and essentially unchanged pixel helper count, he does not believe self-service has launched yet.
McTernan noted one big brand add the Pixel this month, Reebok, which Authentic Brands Group, a private brand management company, owns. Press reports indicate Reebok does ~$5 billion in sales, which is in the bottom quartile for revenue among the 70 big brands he sampled. Authentic Brands Group combined for $32 billion+ of revenue, the analyst said. Some of the brands that added the Pixel include Champion, Juicy Couture, and Vince Camuto, he said.
Other brands ABG owns but not using the Pixel include Nautica, Aeropostale, Lucky, Brooks Brothers, Sperry, Spyder, Ted Baker, Forever 21, Hunter, McTernan noted.
As a reminder, the analyst noted that focusing on some of the larger brands in his dataset is essential as they have the most remarkable ability to scale advertising spending on the platform. He considered ~70 websites in his tracker big brands.
McTernan noted no change to AppLovin&#8217;s reported user count for the Axon pixel at 2k. The analyst noted that the user count crossed from 1k to 2k between February 28 and March 5, which he noted means the user count passed 1,500 that week.
AppLovin projected second-quarter revenue of $1.21 billion and EPS of $1.86.
Weighing in on AppLovin&#8217;s valuation, McTernan stated that the company&#8217;s valuation has become one of the most expensive within their coverage group. This surge is driven by heightened expectations for the company&#8217;s ability to further monetize its advertising platform through new verticals, he noted.
Price Action:&nbsp;APP stock is trading higher by 1.29% to $385.83 at last check Wednesday.
Read Next:
<ul class="wp-block-list">
<li><a href="https://www.benzinga.com//node/45380609" target="_blank" rel="noreferrer noopener">AppLovin Stock Surges On Strong Q1 Earnings And Tariff Truce Tailwinds</a></li>
</ul>
Photo by Piotr Swat via Shutterstock

Analyst Color

News

Reiteration

Analyst Ratings

Movers

Tech

Trading Ideas

AppLovin's Valuation Reflects High Expectations For Monetization Expansion: Analyst

15 analysts have shared their evaluations of AppLovin (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/APP#NASDAQ">APP</a>) during the recent three months, expressing a mix of bullish and bearish perspectives.
The following table summarizes their recent ratings, shedding light on the changing sentiments within the past 30 days and comparing them to the preceding months.
<table>
<thead>
<tr>
<th></th>
<th align="right">Bullish</th>
<th align="right">Somewhat Bullish</th>
<th align="right">Indifferent</th>
<th align="right">Somewhat Bearish</th>
<th align="right">Bearish</th>
</tr>
</thead>
<tbody>
<tr>
<td>Total Ratings</td>
<td align="right">4</td>
<td align="right">7</td>
<td align="right">4</td>
<td align="right">0</td>
<td align="right">0</td>
</tr>
<tr>
<td>Last 30D</td>
<td align="right">0</td>
<td align="right">0</td>
<td align="right">0</td>
<td align="right">0</td>
<td align="right">0</td>
</tr>
<tr>
<td>1M Ago</td>
<td align="right">3</td>
<td align="right">4</td>
<td align="right">2</td>
<td align="right">0</td>
<td align="right">0</td>
</tr>
<tr>
<td>2M Ago</td>
<td align="right">1</td>
<td align="right">3</td>
<td align="right">2</td>
<td align="right">0</td>
<td align="right">0</td>
</tr>
<tr>
<td>3M Ago</td>
<td align="right">0</td>
<td align="right">0</td>
<td align="right">0</td>
<td align="right">0</td>
<td align="right">0</td>
</tr>
</tbody>
</table>
In the assessment of 12-month price targets, analysts unveil insights for AppLovin, presenting an average target of $421.07, a high estimate of $530.00, and a low estimate of $270.00. A decline of 9.11% from the prior average price target is evident in the current average. 
<img src="https://www.benzinga.com/files/images/story/2025/1748437239_0.png" alt="price target chart" />
<h2>Breaking Down Analyst Ratings: A Detailed Examination</h2>
A clear picture of AppLovin's perception among financial experts is painted with a thorough analysis of recent analyst actions. The summary below outlines key analysts, their recent evaluations, and adjustments to ratings and price targets.
<table>
<thead>
<tr>
<th>Analyst</th>
<th>Analyst Firm</th>
<th>Action Taken</th>
<th>Rating</th>
<th>Current Price Target</th>
<th>Prior Price Target</th>
</tr>
</thead>
<tbody>
<tr>
<td>Eric Sheridan</td>
<td>Goldman Sachs</td>
<td>Raises</td>
<td>Neutral</td>
<td>$435.00</td>
<td>$335.00</td>
</tr>
<tr>
<td>John Hodulik</td>
<td>UBS</td>
<td>Raises</td>
<td>Buy</td>
<td>$475.00</td>
<td>$450.00</td>
</tr>
<tr>
<td>James Callahan</td>
<td>Piper Sandler</td>
<td>Raises</td>
<td>Overweight</td>
<td>$455.00</td>
<td>$425.00</td>
</tr>
<tr>
<td>Cory Carpenter</td>
<td>JP Morgan</td>
<td>Raises</td>
<td>Neutral</td>
<td>$355.00</td>
<td>$270.00</td>
</tr>
<tr>
<td>James Heaney</td>
<td>Jefferies</td>
<td>Raises</td>
<td>Buy</td>
<td>$530.00</td>
<td>$460.00</td>
</tr>
<tr>
<td>Matthew Cost</td>
<td>Morgan Stanley</td>
<td>Raises</td>
<td>Overweight</td>
<td>$420.00</td>
<td>$350.00</td>
</tr>
<tr>
<td>Martin Yang</td>
<td>Oppenheimer</td>
<td>Lowers</td>
<td>Outperform</td>
<td>$500.00</td>
<td>$560.00</td>
</tr>
<tr>
<td>Alec Brondolo</td>
<td>Wells Fargo</td>
<td>Raises</td>
<td>Overweight</td>
<td>$405.00</td>
<td>$386.00</td>
</tr>
<tr>
<td>Mike Hickey</td>
<td>Benchmark</td>
<td>Maintains</td>
<td>Buy</td>
<td>$525.00</td>
<td>$525.00</td>
</tr>
<tr>
<td>Cory Carpenter</td>
<td>JP Morgan</td>
<td>Lowers</td>
<td>Neutral</td>
<td>$270.00</td>
<td>$475.00</td>
</tr>
<tr>
<td>Eric Sheridan</td>
<td>Goldman Sachs</td>
<td>Lowers</td>
<td>Neutral</td>
<td>$335.00</td>
<td>$500.00</td>
</tr>
<tr>
<td>John Hodulik</td>
<td>UBS</td>
<td>Lowers</td>
<td>Buy</td>
<td>$450.00</td>
<td>$630.00</td>
</tr>
<tr>
<td>James Callahan</td>
<td>Piper Sandler</td>
<td>Lowers</td>
<td>Overweight</td>
<td>$425.00</td>
<td>$575.00</td>
</tr>
<tr>
<td>Matthew Cost</td>
<td>Morgan Stanley</td>
<td>Lowers</td>
<td>Overweight</td>
<td>$350.00</td>
<td>$470.00</td>
</tr>
<tr>
<td>Alec Brondolo</td>
<td>Wells Fargo</td>
<td>Lowers</td>
<td>Overweight</td>
<td>$386.00</td>
<td>$538.00</td>
</tr>
</tbody>
</table>
<h3>Key Insights:</h3>
<ul>
<li>Action Taken: In response to dynamic market conditions and company performance, analysts update their recommendations. Whether they 'Maintain', 'Raise', or 'Lower' their stance, it signifies their reaction to recent developments related to AppLovin. This insight gives a snapshot of analysts' perspectives on the current state of the company.</li>
<li>Rating: Analysts unravel qualitative evaluations for stocks, ranging from 'Outperform' to 'Underperform'. These ratings offer insights into expectations for the relative performance of AppLovin compared to the broader market.</li>
<li>Price Targets: Gaining insights, analysts provide estimates for the future value of AppLovin's stock. This comparison reveals trends in analysts' expectations over time.</li>
</ul>
Considering these analyst evaluations in conjunction with other financial indicators can offer a comprehensive understanding of AppLovin's market position. Stay informed and make well-informed decisions with our Ratings Table.
<a href="https://www.benzinga.com/quote/APP/analyst-ratings?adType=benzinga-insights&amp;ad=analyst-ratings&amp;campaign=wallstreetadvantage">Stay up to date on AppLovin analyst ratings.</a>
<h2>All You Need to Know About AppLovin</h2>
AppLovin is a vertically integrated advertising technology company that acts as a demand-side platform for advertisers, a supply-side platform for publishers, and an exchange facilitating transactions between the two. About 80% of AppLovin's revenue comes from the DSP, AppDiscovery, while the remainder comes from the SSP, Max, and gaming studios, which develop mobile games. AppLovin announced in February 2025 its plans to divest from the lower-margin gaming studios to focus exclusively on the ad tech platform. AppLovin's primary tool for future growth is Axon 2, which is an ad optimizer operating within the DSP that allows advertisers to place ads according to specified return thresholds.
<h3>AppLovin's Economic Impact: An Analysis</h3>
Market Capitalization Analysis: Above industry benchmarks, the company's market capitalization emphasizes a noteworthy size, indicative of a strong market presence.
Revenue Growth: AppLovin's revenue growth over a period of 3M has been noteworthy. As of 31 March, 2025, the company achieved a revenue growth rate of approximately 40.25%. This indicates a substantial increase in the company's top-line earnings. In comparison to its industry peers, the company stands out with a growth rate higher than the average among peers in the Information Technology sector.
Net Margin: The company's net margin is a standout performer, exceeding industry averages. With an impressive net margin of 38.83%, the company showcases strong profitability and effective cost control.
Return on Equity (ROE): AppLovin's financial strength is reflected in its exceptional ROE, which exceeds industry averages. With a remarkable ROE of 69.21%, the company showcases efficient use of equity capital and strong financial health.
Return on Assets (ROA): AppLovin's ROA surpasses industry standards, highlighting the company's exceptional financial performance. With an impressive 9.96% ROA, the company effectively utilizes its assets for optimal returns.
Debt Management: AppLovin's debt-to-equity ratio surpasses industry norms, standing at 6.45. This suggests the company carries a substantial amount of debt, posing potential financial challenges.
<h2>The Basics of Analyst Ratings</h2>
Analyst ratings serve as essential indicators of stock performance, provided by experts in banking and financial systems. These specialists diligently analyze company financial statements, participate in conference calls, and engage with insiders to generate quarterly ratings for individual stocks.
In addition to their assessments, some analysts extend their insights by offering predictions for key metrics such as earnings, revenue, and growth estimates. This supplementary information provides further guidance for traders. It is crucial to recognize that, despite their specialization, analysts are human and can only provide forecasts based on their beliefs.
Breaking: Wall Street's Next Big Mover
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This article was generated by Benzinga's automated content engine and reviewed by an editor.

Where AppLovin Stands With Analysts

Needham analyst Bernie McTernan reiterates AppLovin (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/APP#NASDAQ">APP</a>) from Hold to Hold.

Needham Reiterates Hold on AppLovinto Hold

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Shares of companies within the broader tech sector are trading higher, possibly amid overall market strength after President Trump delayed 50% EU tariffs to July. Additionally, the sector may be up in anticipation of NVIDIA's upcoming Q1 report.

AppLovin's (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/APP#NYSE">APP</a>) short percent of float has fallen 5.75% since its last report. The company recently reported that it has 10.11 million shares sold short, which is 3.44% of all regular shares that are available for trading. Based on its trading volume, it would take traders 1.57 days to cover their short positions on average.
<h3>Why Short Interest Matters</h3>
Short interest is the number of shares that have been sold short but have not yet been covered or closed out. <a href="https://www.benzinga.com/money/how-to-short-a-stock?adType=benzinga-insights&amp;ad=short-interest&amp;campaign=wallstreetadvantage">Short selling</a> is when a trader sells shares of a company they do not own, with the hope that the price will fall. Traders make money from short selling if the price of the stock falls and they lose if it rises.
Short interest is important to track because it can act as an indicator of market sentiment towards a particular stock. An increase in short interest can signal that investors have become more bearish, while a decrease in short interest can signal they have become more bullish.
See Also: <a href="https://www.benzinga.com/short-interest?adType=benzinga-insights&amp;ad=short-interest&amp;campaign=wallstreetadvantage">List of the most shorted stocks</a>
<h3>AppLovin Short Interest Graph (3 Months)</h3>
<img src="https://www.benzinga.com/files/images/story/2025/1748350826_0.png" alt="short_fig" />
As you can see from the chart above the percentage of shares that are sold short for AppLovin has declined since its last report. This does not mean that the stock is going to rise in the near-term but traders should be aware that less shares are being shorted.
<h3>Comparing AppLovin's Short Interest Against Its Peers</h3>
Peer comparison is a popular technique amongst analysts and investors for gauging how well a company is performing. A company's peer is another company that has similar characteristics to it, such as industry, size, age, and financial structure. You can find a company's peer group by reading its 10-K, proxy filing, or by doing your own similarity analysis.
According to <a href="https://www.benzinga.com/pro/">Benzinga Pro</a>, AppLovin's peer group average for short interest as a percentage of float is 3.00%, which means the company has more short interest than most of its peers.
Did you know that increasing short interest can actually be bullish for a stock? <a href="https://www.benzinga.com/money/how-to-make-money-on-a-short-squeeze?adType=benzinga-insights&amp;ad=short-interest&amp;campaign=wallstreetadvantage">This post by Benzinga Money explains how you can profit from it.</a>
This article was generated by Benzinga's automated content engine and was reviewed by an editor.

Short Sellers

Short Ideas

Looking Into AppLovin's Recent Short Interest

Whales with a lot of money to spend have taken a noticeably bullish stance on AppLovin.
Looking at options history for AppLovin (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/APP#NASDAQ">APP</a>) we detected 33 trades.
If we consider the specifics of each trade, it is accurate to state that 42% of the investors opened trades with bullish expectations and 30% with bearish.
From the overall spotted trades, 10 are puts, for a total amount of $591,340 and 23, calls, for a total amount of $1,784,731.
<h3>Expected Price Movements</h3>
Analyzing the Volume and Open Interest in these contracts, it seems that the big players have been eyeing a price window from $120.0 to $500.0 for AppLovin during the past quarter. 
<h3>Volume &amp; Open Interest Development</h3>
Examining the volume and open interest provides crucial insights into stock research. This information is key in gauging liquidity and interest levels for AppLovin's options at certain strike prices. Below, we present a snapshot of the trends in volume and open interest for calls and puts across AppLovin's significant trades, within a strike price range of $120.0 to $500.0, over the past month.
<h3>AppLovin Option Activity Analysis: Last 30 Days</h3>
<img src="https://www.benzinga.com/files/images/story/2025/1747843497_0.png" alt="Options Call Chart" />
<h3>Noteworthy Options Activity:</h3>

<table>
<thead>
<tr>
<th>Symbol</th>
<th>PUT/CALL</th>
<th>Trade Type</th>
<th>Sentiment</th>
<th>Exp. Date</th>
<th>Ask</th>
<th>Bid</th>
<th>Price</th>
<th>Strike Price</th>
<th>Total Trade Price</th>
<th align="right">Open Interest</th>
<th align="right">Volume</th>
</tr>
</thead>
<tbody>
<tr>
<td>APP</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>07/18/25</td>
<td>$30.6</td>
<td>$29.7</td>
<td>$30.6</td>
<td>$400.00</td>
<td>$257.0K</td>
<td align="right">799</td>
<td align="right">322</td>
</tr>
<tr>
<td>APP</td>
<td>CALL</td>
<td>TRADE</td>
<td>BULLISH</td>
<td>06/06/25</td>
<td>$37.7</td>
<td>$34.2</td>
<td>$36.75</td>
<td>$350.00</td>
<td>$220.5K</td>
<td align="right">29</td>
<td align="right">60</td>
</tr>
<tr>
<td>APP</td>
<td>CALL</td>
<td>SWEEP</td>
<td>NEUTRAL</td>
<td>05/30/25</td>
<td>$7.5</td>
<td>$6.1</td>
<td>$6.75</td>
<td>$380.00</td>
<td>$172.3K</td>
<td align="right">852</td>
<td align="right">281</td>
</tr>
<tr>
<td>APP</td>
<td>PUT</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>05/23/25</td>
<td>$5.7</td>
<td>$5.0</td>
<td>$5.7</td>
<td>$365.00</td>
<td>$171.0K</td>
<td align="right">644</td>
<td align="right">38</td>
</tr>
<tr>
<td>APP</td>
<td>CALL</td>
<td>TRADE</td>
<td>NEUTRAL</td>
<td>06/27/25</td>
<td>$34.2</td>
<td>$31.9</td>
<td>$33.0</td>
<td>$375.00</td>
<td>$165.0K</td>
<td align="right">19</td>
<td align="right">50</td>
</tr>
</tbody>
</table>

<h3>About AppLovin</h3>
AppLovin is a vertically integrated advertising technology company that acts as a demand-side platform for advertisers, a supply-side platform for publishers, and an exchange facilitating transactions between the two. About 80% of AppLovin's revenue comes from the DSP, AppDiscovery, while the remainder comes from the SSP, Max, and gaming studios, which develop mobile games. AppLovin announced in February 2025 its plans to divest from the lower-margin gaming studios to focus exclusively on the ad tech platform. AppLovin's primary tool for future growth is Axon 2, which is an ad optimizer operating within the DSP that allows advertisers to place ads according to specified return thresholds.
<h3>Current Position of AppLovin</h3>
<ul>
<li>With a volume of 2,516,117, the price of APP is up 2.07% at $370.58. </li>
<li>RSI indicators hint that the underlying stock may be overbought.</li>
<li>Next earnings are expected to be released in 77 days.</li>
</ul>
<h3>What Analysts Are Saying About AppLovin</h3>
In the last month, 5 experts released ratings on this stock with an average target price of $450.0.
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&#x2A; Consistent in their evaluation, an analyst from JP Morgan keeps a Neutral rating on AppLovin with a target price of $355. 
&#x2A; Consistent in their evaluation, an analyst from Jefferies keeps a Buy rating on AppLovin with a target price of $530. 
&#x2A; An analyst from Piper Sandler persists with their Overweight rating on AppLovin, maintaining a target price of $455. 
&#x2A; An analyst from Goldman Sachs persists with their Neutral rating on AppLovin, maintaining a target price of $435. 
&#x2A; An analyst from UBS has decided to maintain their Buy rating on AppLovin, which currently sits at a price target of $475. 
Options are a riskier asset compared to just trading the stock, but they have higher profit potential. Serious options traders manage this risk by educating themselves daily, scaling in and out of trades, following more than one indicator, and following the markets closely.
If you want to stay updated on the latest options trades for AppLovin, <a href="https://www.benzinga.com/pro/">Benzinga Pro</a> gives you real-time options trades alerts.

Options

Markets

Behind the Scenes of AppLovin's Latest Options Trends

Applovin Corp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/APP#NASDAQ">APP</a>) has garnered considerable attention from both investors and traders in recent sessions. This heightened interest is largely attributed to the company&#8217;s first-quarter results, released on May 7, which exceeded market expectations.
What To Know: AppLovin <a href="https://www.benzinga.com/news/25/05/45448228/applovin-app-stock-pulls-back-following-recent-50-surge-whats-going-on">announced</a> first-quarter revenue of $1.48 billion, surpassing consensus estimates of $1.38 billion and representing 40% year-over-year growth. Adjusted EPS of $1.67 also exceeded forecasts.
The <a href="https://www.benzinga.com/pressreleases/25/05/b45266259/applovin-announces-first-quarter-2025-financial-results">advertising segment</a> was a key driver, exhibiting 71% revenue growth and record 81% EBITDA margins. Furthermore, the company provided robust second-quarter guidance, projecting ad revenue between $1.195 billion and $1.215 billion and adjusted EBITDA from $970 million to $990 million, both well above Street expectations.
Analysts responded favorably, with BofA reiterating a &#8220;Buy&#8221; rating and a $580 price target. Goldman Sachs and JPMorgan also raised their targets to $435 and $355, respectively, reflecting strong confidence in AppLovin&#8217;s continued performance and strategic focus on its high-margin advertising business.
Read Also: <a href="https://www.benzinga.com/news/earnings/25/05/45540766/tjx-boosts-q1-sales-with-more-shoppers-says-tariffs-wont-hurt-2026-outlook">TJX Boosts Q1 Sales With More Shoppers, Says Tariffs Won&#8217;t Hurt 2026 Outlook</a>
Price Action: AppLovin shares climbed 1.24% to $367.71 on Wednesday, extending a remarkable 62% gain over the past month.
<h2 class="wp-block-heading">How To Buy APP Stock</h2>
By now you're likely curious about how to participate in the market for AppLovin &#8211; be it to purchase shares, or even attempt to bet against the company.
Buying shares is typically done through a brokerage account. You can find a list of <a href="https://www.benzinga.com/money/best-stock-trading-platforms">possible trading platforms here.</a> Many will allow you to buy &#8220;fractional shares,&#8221; which allows you to own portions of stock without buying an entire share.
In the case of AppLovin, which is trading at $362.35 as of publishing time, $100 would buy you 0.28 shares of stock.
If you're looking to bet against a company, the process is more complex. You'll need access to an options trading platform, or a broker who will allow you to &#8220;go short&#8221; a share of stock by lending you the shares to sell. The process of shorting a <a href="https://www.benzinga.com/money/how-to-short-a-stock">stock can be found at this resource.</a> Otherwise, if your broker allows you to trade options, you can either buy a put option, or sell a call option at a strike price above where shares are currently trading &#8211; either way it allows you to profit off of the share price decline.
According to data from&nbsp;<a href="https://benzinga.grsm.io/register174">Benzinga Pro</a>, APP has a 52-week high of $525.15 and a 52-week low of $60.67.
Photo: Shutterstock

AppLovin (APP) Surges 62% Over Past Month On Stellar Q1 Earnings, Strong Outlook

I got into the investment business on a steady diet of Graham and Whitman. But that was the 1980s and early 1990s – the golden age of dealmakers and junk bonds, leveraged buyouts and greenmail. 
Long before the players became gentlemanly private equity titans and activist investors, they were raiders, vultures, and even, in one famous book about the RJR deal, barbarians.
Legendary fortunes were made, reputations created and shattered.
All of these high-return, high-flying strategies shared a common thread. Leveraged buyouts, distressed investing and risk arb were all just variations on the value investing theme.
The private equity giants of today are still doing this. Thanks to their quarterly filings, you can copy their investment approach—a strategy that has beaten the markets 4-to-1 since 2001.
Even the creation of the junk bond market was based on Michael Milken&#8217;s studies on the returns from buying undervalued lower-rated bonds, a strategy founded on basic value investing principles.
The big winners in all these strategies took value investing and added debt.
It was like adding nitro to the tank of a stock car. If you could control the vehicle at high speed through the corners, there was no race you couldn&#8217;t win.
Although the golden age of risk arb and the smaller investors&#8217; ability to compete in distressed debt are all behind us, we can still use the combination of debt and value investing to beat the index by a wide margin.
When the 13F filings come out every quarter, most of the short-attention-spans in the market today head for the same filings at the same time.
Warren, Cathie, Stanley, Tepper and Seth still get all the attention.
I may get around to those at some point, but one of the first places I turn is to the leading private equity firms.
Firms like Apollo Global Management (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/APO#NYSE">APO</a>), Blackstone (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BX#NYSE">BX</a>) and KKR (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KKR#NYSE">KKR</a>) still use basic principles of value investing along with a healthy dose of debt to drive massive returns for themselves and their investors.
What most people do not realize is that these firms also have large public securities portfolios, and stealing their ideas has created some massive market-beating opportunities.
If you had bought shares of Mr. Cooper (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/COOP#NASDAQ">COOP</a>) when it first appeared in KKR&#8217;s public portfolio in 2018, you could have made almost ten times your money.
Buying shares of AppLovin (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/APP#NASDAQ">APP</a>) when KKR first revealed its position would have resulted in gains of almost seven times your initial cost.
DoorDash (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/DASH#NASDAQ">DASH</a>) would have delivered gains of 3x in just a few years.
Owning the firm&#8217;s top ten holdings since 2001 would have beaten the market by a 4-to-1 margin.
I do not care what the media darling investors bought last quarter. Tell me what the profit pirates at KKR own, and I can create an opportunity to score massive gains.
The current top ten holdings for KKR are:
BrightSpring Health Services (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BTSG#NASDAQ">BTSG</a>) provides home and community-based health services to complex patients, positioning itself in a niche with long-term demographic tailwinds. The company is newly public and pursuing scale through both organic growth and targeted acquisitions in behavioral and specialty pharmacy segments.
Henry Schein (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/HSIC#NASDAQ">HSIC</a>) is a global distributor of dental and medical supplies primarily serving small- and mid-sized practices. The company generates stable cash flow and has a long history of disciplined capital deployment, though growth is modest and sensitive to procedure volume trends.
BrightView (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BV#NYSE">BV</a>) is the largest commercial landscaping services provider in the U.S., with recurring maintenance revenue making up the majority of its business. Under new leadership, the firm is undergoing a restructuring push to improve margins and reduce debt after years of underperformance.
KKR Real Estate Finance Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KREF#NYSE">KREF</a>) is a commercial mortgage REIT focused on senior loans backed by institutional-grade real estate, primarily in urban markets. It offers a high dividend yield but remains exposed to office market weakness and refinancing risk in a higher-rate environment.
Madison Square Garden Sports (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MSGS#NYSE">MSGS</a>) owns marquee sports franchises, including the New York Knicks and Rangers, offering investors a rare asset-backed play on professional sports. Valuation is driven more by franchise appreciation than earnings power, making it a long-duration, event-driven asset.
Norwegian Cruise Line (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NCLH#NYSE">NCLH</a>) is a leading cruise operator with a strong focus on premium and upscale offerings across its brand portfolio. The company is rebounding from pandemic-era disruptions, though it still carries significant leverage and remains sensitive to fuel and labor costs.
Bausch Health (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BHC#NYSE">BHC</a>) is a diversified specialty pharmaceutical company with exposure to eye health, dermatology, and branded generics. However, the company is still burdened by high legacy debt. While it&#8217;s pursuing a turnaround strategy and asset divestitures, legal overhangs and weak cash flow remain headwinds.
FS KKR (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FSK#NYSE">FSK</a>) is one of the largest business development companies, focused on senior secured lending to middle-market companies with an emphasis on downside protection. It offers a double-digit yield and strong sponsor backing, though credit quality and NAV stability require close monitoring.
Crescent Energy (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CSGY#NYSE">CSGY</a>) is a cash-generating E&amp;P company with a private equity-backed structure and a focus on acquiring and optimizing mature, low-decline assets. The firm maintains a disciplined capital return framework and hedging strategy, making it a defensive upstream play with yield upside.
BridgeBio Pharma (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BBIO#NASDAQ">BBIO</a>) is a commercial-stage biopharmaceutical company developing treatments for genetic diseases and cancers with clear genetic drivers. Its lead drug, Attruby (acoramidis), approved in late 2024 for transthyretin amyloid cardiomyopathy, significantly outperformed sales expectations in its first full quarter, positioning the company as a strong competitor in the cardiomyopathy treatment market.
<h2 class="wp-block-heading">Turn Market Mayhem Into Profit Signals This Memorial Day</h2>
Get real-time portfolio alerts, daily stock ideas, and a suite of pro-grade tools — all in one elite membership. For a limited time, you can access Benzinga Edge at 60% off. Secure Your 60% Memorial Day Discount <a href="https://www.benzinga.com/premium/ideas/benzinga-edge-memorial-day-special/?utm_campaign=mdw-sale&amp;utm_adType=sponsorad&amp;utm_ad=RD052025/?el=ResearchDaily&amp;he={{email}}&amp;adt_ei={{email}}&amp;utm_medium=newsletter">HERE</a>.
Editorial content from our expert contributors is intended to be information for the general public and not individualized investment advice. Editors/contributors are presenting their individual opinions and strategies, which are neither expressly nor impliedly approved or endorsed by Benzinga.
Photo: Shutterstock

Opinion

BBIO

BTSG

COOP

CSGY

DASH

HSIC

KREF

MSGS

NCLH

The Smart Money Is Buying These 10 Stocks

Hedge Funds

General

13F Shows Tiger Global Took New Stake Of 1.67 Million Shares In AppLovin Corp, New Stake Of 1.88 Million Shares In Block Inc, New Stake Of 1.06 Million Shares In GE Vernova Inc, New Stake Of 902,643 Shares In Zillow Group Inc

AppLovin Corp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/APP#NASDAQ">APP</a>) shares are down 2.8% to $366.06 on Thursday but remain up nearly 50% over the past month, as investors might be taking profits following a sharp post-earnings rally.
What To Know: The pullback comes after the stock <a href="https://www.benzinga.com/news/25/05/45380609/applovin-stock-surges-on-strong-q1-earnings-and-tariff-truce-tailwinds">surged</a> over the past week, fueled by better-than-expected first-quarter results and a broader tech rally sparked by <a href="https://www.benzinga.com/government/regulations/25/05/45347089/wall-street-rips-higher-as-tariff-truce-halts-us-china-economic-escalation">easing</a> U.S.-China trade tensions.
Last Wednesday, AppLovin <a href="https://www.benzinga.com/analyst-ratings/analyst-color/25/05/45323056/applovins-rapid-ad-growth-ai-gains-drive-hike-in-analyst-price-forecast">reported</a> first-quarter revenue of $1.48 billion, beating consensus estimates of $1.38 billion and growing 40% year-over-year. Adjusted EPS of $1.67 also topped forecasts.
Read Also: <a href="https://www.benzinga.com/news/25/05/45445582/plug-power-stock-hits-a-new-52-week-low-whats-going-on">Plug Power Stock Hits A New 52-Week Low: What&#8217;s Going On?</a>
The advertising segment led performance with 71% revenue growth and record 81% EBITDA margins. The company guided second-quarter ad revenue to $1.195–$1.215 billion and adjusted EBITDA to $970M–$990M, well above Street expectations.
Analysts <a href="https://www.benzinga.com/analyst-ratings/analyst-color/25/05/45323056/applovins-rapid-ad-growth-ai-gains-drive-hike-in-analyst-price-forecast">responded</a> favorably. BofA reiterated a Buy with a $580 target, while Goldman Sachs and JPMorgan raised targets to $435 and $355, respectively.
Macro conditions have added some support this week, with Monday's news of a 90-day U.S.-China tariff rollback easing recession and inflation fears. April CPI data released Tuesday showed inflation cooling slightly, reinforcing market optimism.
Read Also: <a href="https://www.benzinga.com/economics/macro-economic-events/25/05/45435725/tariffs-slow-retail-spending-as-producer-prices-post-sharpest-drop-since-2020">Tariffs Slow Retail Spending As Producer Prices Post Sharpest Drop Since 2020</a>
<h2 class="wp-block-heading">How To Buy APP Stock</h2>
By now you're likely curious about how to participate in the market for AppLovin &#8211; be it to purchase shares, or even attempt to bet against the company.
Buying shares is typically done through a brokerage account. You can find a list of <a href="https://www.benzinga.com/money/best-stock-trading-platforms">possible trading platforms here.</a> Many will allow you to buy &#8220;fractional shares,&#8221; which allows you to own portions of stock without buying an entire share.
In the case of AppLovin, which is trading at $366.06 as of publishing time, $100 would buy you 0.27 shares of stock.
If you're looking to bet against a company, the process is more complex. You'll need access to an options trading platform, or a broker who will allow you to &#8220;go short&#8221; a share of stock by lending you the shares to sell. The process of shorting a <a href="https://www.benzinga.com/money/how-to-short-a-stock">stock can be found at this resource.</a> Otherwise, if your broker allows you to trade options, you can either buy a put option, or sell a call option at a strike price above where shares are currently trading &#8211; either way it allows you to profit off of the share price decline.
According to data from&nbsp;<a href="https://benzinga.grsm.io/register174">Benzinga Pro</a>, APP has a 52-week high of $525.04 and a 52-week low of $60.67.

AppLovin (APP) Stock Pulls Back Following Recent 50% Surge: What's Going On?

This whale alert can help traders discover the next big trading opportunities.
Whales are entities with large sums of money and we track their transactions here at Benzinga on our options activity scanner.
Traders will search for circumstances when the market estimation of an option diverges heavily from its normal worth. High amounts of trading activity could push option prices to exaggerated or underestimated levels. 
Below are some instances of options activity happening in the Information Technology sector: 
<table>
<thead>
<tr>
<th>Symbol</th>
<th>PUT/CALL</th>
<th>Trade Type</th>
<th>Sentiment</th>
<th>Exp. Date</th>
<th>Strike Price</th>
<th>Total Trade Price</th>
<th>Open Interest</th>
<th>Volume</th>
</tr>
</thead>
<tbody>
<tr>
<td>NVDA</td>
<td>CALL</td>
<td>TRADE</td>
<td>BEARISH</td>
<td>05/16/25</td>
<td>$135.00</td>
<td>$35.8K</td>
<td>65.1K</td>
<td>119.0K</td>
</tr>
<tr>
<td>SMCI</td>
<td>CALL</td>
<td>SWEEP</td>
<td>NEUTRAL</td>
<td>05/16/25</td>
<td>$45.00</td>
<td>$40.3K</td>
<td>17.2K</td>
<td>29.7K</td>
</tr>
<tr>
<td>MSTR</td>
<td>CALL</td>
<td>TRADE</td>
<td>BEARISH</td>
<td>05/16/25</td>
<td>$410.00</td>
<td>$54.5K</td>
<td>2.7K</td>
<td>12.1K</td>
</tr>
<tr>
<td>QBTS</td>
<td>CALL</td>
<td>TRADE</td>
<td>BULLISH</td>
<td>06/20/25</td>
<td>$12.00</td>
<td>$37.5K</td>
<td>15.1K</td>
<td>8.6K</td>
</tr>
<tr>
<td>CRWV</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>05/30/25</td>
<td>$40.00</td>
<td>$32.0K</td>
<td>55</td>
<td>7.1K</td>
</tr>
<tr>
<td>AAPL</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>06/20/25</td>
<td>$210.00</td>
<td>$28.8K</td>
<td>38.4K</td>
<td>2.0K</td>
</tr>
<tr>
<td>MSFT</td>
<td>CALL</td>
<td>TRADE</td>
<td>NEUTRAL</td>
<td>12/19/25</td>
<td>$470.00</td>
<td>$75.0K</td>
<td>1.8K</td>
<td>1.2K</td>
</tr>
<tr>
<td>PLTR</td>
<td>PUT</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>05/16/25</td>
<td>$131.00</td>
<td>$30.0K</td>
<td>629</td>
<td>1.0K</td>
</tr>
<tr>
<td>APP</td>
<td>PUT</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>05/16/25</td>
<td>$365.00</td>
<td>$50.0K</td>
<td>1.7K</td>
<td>377</td>
</tr>
<tr>
<td>AAOI</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>01/16/26</td>
<td>$30.00</td>
<td>$27.9K</td>
<td>2.2K</td>
<td>188</td>
</tr>
</tbody>
</table>

<h2>Explanation</h2>
These itemized elaborations have been created using the accompanying table. 
• Regarding NVDA (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>), we observe a call option trade with bearish sentiment. It expires in 1 day(s) on May 16, 2025. Parties traded 170 contract(s) at a $135.00 strike. The total cost received by the writing party (or parties) was $35.8K, with a price of $211.0 per contract. There were 65199 open contracts at this strike prior to today, and today 119046 contract(s) were bought and sold. 
• Regarding SMCI (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SMCI#NASDAQ">SMCI</a>), we observe a call option sweep with neutral sentiment. It expires in 1 day(s) on May 16, 2025. Parties traded 328 contract(s) at a $45.00 strike. This particular call needed to be split into 19 different trades to become filled. The total cost received by the writing party (or parties) was $40.3K, with a price of $124.0 per contract. There were 17264 open contracts at this strike prior to today, and today 29724 contract(s) were bought and sold. 
• For MSTR (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSTR#NASDAQ">MSTR</a>), we notice a call option trade that happens to be bearish, expiring in 1 day(s) on May 16, 2025. This event was a transfer of 101 contract(s) at a $410.00 strike. The total cost received by the writing party (or parties) was $54.5K, with a price of $540.0 per contract. There were 2796 open contracts at this strike prior to today, and today 12133 contract(s) were bought and sold. 
• Regarding QBTS (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/QBTS#NYSE">QBTS</a>), we observe a call option trade with bullish sentiment. It expires in 36 day(s) on June 20, 2025. Parties traded 300 contract(s) at a $12.00 strike. The total cost received by the writing party (or parties) was $37.5K, with a price of $125.0 per contract. There were 15138 open contracts at this strike prior to today, and today 8615 contract(s) were bought and sold. 
• For CRWV (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CRWV#NASDAQ">CRWV</a>), we notice a call option sweep that happens to be bearish, expiring in 15 day(s) on May 30, 2025. This event was a transfer of 11 contract(s) at a $40.00 strike. This particular call needed to be split into 6 different trades to become filled. The total cost received by the writing party (or parties) was $32.0K, with a price of $2910.0 per contract. There were 55 open contracts at this strike prior to today, and today 7109 contract(s) were bought and sold. 
• Regarding AAPL (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>), we observe a call option sweep with bullish sentiment. It expires in 36 day(s) on June 20, 2025. Parties traded 33 contract(s) at a $210.00 strike. This particular call needed to be split into 8 different trades to become filled. The total cost received by the writing party (or parties) was $28.8K, with a price of $876.0 per contract. There were 38432 open contracts at this strike prior to today, and today 2029 contract(s) were bought and sold. 
• Regarding MSFT (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSFT#NASDAQ">MSFT</a>), we observe a call option trade with neutral sentiment. It expires in 218 day(s) on December 19, 2025. Parties traded 24 contract(s) at a $470.00 strike. The total cost received by the writing party (or parties) was $75.0K, with a price of $3125.0 per contract. There were 1860 open contracts at this strike prior to today, and today 1287 contract(s) were bought and sold. 
• Regarding PLTR (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PLTR#NASDAQ">PLTR</a>), we observe a put option sweep with bullish sentiment. It expires in 1 day(s) on May 16, 2025. Parties traded 100 contract(s) at a $131.00 strike. This particular put needed to be split into 6 different trades to become filled. The total cost received by the writing party (or parties) was $30.0K, with a price of $300.0 per contract. There were 629 open contracts at this strike prior to today, and today 1016 contract(s) were bought and sold. 
• Regarding APP (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/APP#NASDAQ">APP</a>), we observe a put option sweep with bullish sentiment. It expires in 1 day(s) on May 16, 2025. Parties traded 100 contract(s) at a $365.00 strike. This particular put needed to be split into 11 different trades to become filled. The total cost received by the writing party (or parties) was $50.0K, with a price of $500.0 per contract. There were 1732 open contracts at this strike prior to today, and today 377 contract(s) were bought and sold. 
• For AAOI (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAOI#NASDAQ">AAOI</a>), we notice a call option sweep that happens to be bullish, expiring in 246 day(s) on January 16, 2026. This event was a transfer of 93 contract(s) at a $30.00 strike. This particular call needed to be split into 8 different trades to become filled. The total cost received by the writing party (or parties) was $27.9K, with a price of $300.0 per contract. There were 2222 open contracts at this strike prior to today, and today 188 contract(s) were bought and sold. 
Options Alert Terminology 
 - Call Contracts: The right to buy shares as indicated in the contract. 
 - Put Contracts: The right to sell shares as indicated in the contract. 
 - Expiration Date: When the contract expires. One must act on the contract by this date if one wants to use it. 
 - Premium/Option Price: The price of the contract. 
For more information, visit our <a href="https://pro.benzinga.com/blog/how-to-understand-option-alerts/">Guide to Understanding Options Alerts</a> or read <a href="https://www.benzinga.com/markets/options">more news on unusual options activity</a>. 
This article was generated by Benzinga's automated content engine and reviewed by an editor.

AAOI

CRWV

MSFT

MSTR

NVDA

PLTR

QBTS

10 Information Technology Stocks With Whale Alerts In Today's Session

Financial giants have made a conspicuous bullish move on AppLovin. Our analysis of options history for AppLovin (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/APP#NASDAQ">APP</a>) revealed 74 unusual trades.
Delving into the details, we found 32% of traders were bullish, while 28% showed bearish tendencies. Out of all the trades we spotted, 8 were puts, with a value of $405,127, and 66 were calls, valued at $15,221,592.
<h3>What's The Price Target?</h3>
After evaluating the trading volumes and Open Interest, it's evident that the major market movers are focusing on a price band between $220.0 and $530.0 for AppLovin, spanning the last three months.
<h3>Analyzing Volume &amp; Open Interest</h3>
In today's trading context, the average open interest for options of AppLovin stands at 666.1, with a total volume reaching 66,492.00. The accompanying chart delineates the progression of both call and put option volume and open interest for high-value trades in AppLovin, situated within the strike price corridor from $220.0 to $530.0, throughout the last 30 days.
<h3>AppLovin Option Volume And Open Interest Over Last 30 Days</h3>
<img src="https://www.benzinga.com/files/images/story/2025/1747238572_0.png" alt="Options Call Chart" />
<h3>Noteworthy Options Activity:</h3>

<table>
<thead>
<tr>
<th>Symbol</th>
<th>PUT/CALL</th>
<th>Trade Type</th>
<th>Sentiment</th>
<th>Exp. Date</th>
<th>Ask</th>
<th>Bid</th>
<th>Price</th>
<th>Strike Price</th>
<th>Total Trade Price</th>
<th>Open Interest</th>
<th>Volume</th>
</tr>
</thead>
<tbody>
<tr>
<td>APP</td>
<td>CALL</td>
<td>TRADE</td>
<td>NEUTRAL</td>
<td>01/16/26</td>
<td>$87.1</td>
<td>$85.0</td>
<td>$86.05</td>
<td>$390.00</td>
<td>$567.9K</td>
<td>70</td>
<td>66</td>
</tr>
<tr>
<td>APP</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>06/20/25</td>
<td>$24.0</td>
<td>$23.2</td>
<td>$23.99</td>
<td>$400.00</td>
<td>$374.4K</td>
<td>8.5K</td>
<td>4.8K</td>
</tr>
<tr>
<td>APP</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>07/18/25</td>
<td>$54.8</td>
<td>$53.0</td>
<td>$54.11</td>
<td>$350.00</td>
<td>$221.8K</td>
<td>3.1K</td>
<td>71</td>
</tr>
<tr>
<td>APP</td>
<td>CALL</td>
<td>TRADE</td>
<td>BULLISH</td>
<td>11/21/25</td>
<td>$82.1</td>
<td>$81.5</td>
<td>$82.1</td>
<td>$380.00</td>
<td>$205.2K</td>
<td>89</td>
<td>26</td>
</tr>
<tr>
<td>APP</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>07/18/25</td>
<td>$40.3</td>
<td>$39.0</td>
<td>$39.48</td>
<td>$380.00</td>
<td>$161.8K</td>
<td>263</td>
<td>65</td>
</tr>
</tbody>
</table>

<h3>About AppLovin</h3>
AppLovin is a vertically integrated advertising technology company that acts as a demand-side platform for advertisers, a supply-side platform for publishers, and an exchange facilitating transactions between the two. About 80% of AppLovin's revenue comes from the DSP, AppDiscovery, while the remainder comes from the SSP, Max, and gaming studios, which develop mobile games. AppLovin announced in February 2025 its plans to divest from the lower-margin gaming studios to focus exclusively on the ad tech platform. AppLovin's primary tool for future growth is Axon 2, which is an ad optimizer operating within the DSP that allows advertisers to place ads according to specified return thresholds.
Having examined the options trading patterns of AppLovin, our attention now turns directly to the company. This shift allows us to delve into its present market position and performance
<h3>AppLovin's Current Market Status</h3>
<ul>
<li>Trading volume stands at 2,885,645, with APP's price up by 0.58%, positioned at $372.24.</li>
<li>RSI indicators show the stock to be may be overbought.</li>
<li>Earnings announcement expected in 84 days.</li>
</ul>
<h3>Expert Opinions on AppLovin</h3>
5 market experts have recently issued ratings for this stock, with a consensus target price of $448.0.
Unusual Options Activity Detected: Smart Money on the Move
Benzinga Edge's Unusual Options board spots potential market movers before they happen. See what positions big money is taking on your favorite stocks. <a href="https://www.benzinga.com/premium/ideas/benzinga-edge-checkout/?t=Be8be9arja3be22bz20&amp;adType=benzinga-insights&amp;ad=options-activity&amp;campaign=wallstreetadvantage">Click here for access</a>. 
&#x2A; An analyst from JP Morgan persists with their Neutral rating on AppLovin, maintaining a target price of $355. 
&#x2A; An analyst from Jefferies persists with their Buy rating on AppLovin, maintaining a target price of $530. 
&#x2A; An analyst from Morgan Stanley has decided to maintain their Overweight rating on AppLovin, which currently sits at a price target of $420. 
&#x2A; An analyst from Goldman Sachs persists with their Neutral rating on AppLovin, maintaining a target price of $435. 
&#x2A; An analyst from Oppenheimer downgraded its action to Outperform with a price target of $500. 
Options trading presents higher risks and potential rewards. Astute traders manage these risks by continually educating themselves, adapting their strategies, monitoring multiple indicators, and keeping a close eye on market movements. Stay informed about the latest AppLovin options trades with real-time alerts from <a href="https://www.benzinga.com/pro/">Benzinga Pro</a>.

Unpacking the Latest Options Trading Trends in AppLovin

Applovin shares are trading higher after the company last week reported better-than-expected Q1 financial results.

AppLovin Corp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/APP#NASDAQ">APP</a>) surged 20.9% to $370.02 over the past week, driven by upbeat first-quarter results and broader tech sector momentum following a major U.S.-China tariff rollback.
What To Know: On Wednesday, AppLovin <a href="https://www.benzinga.com/analyst-ratings/analyst-color/25/05/45323056/applovins-rapid-ad-growth-ai-gains-drive-hike-in-analyst-price-forecast">reported</a> first-quarter revenue of $1.48 billion (+40% YoY), beating estimates of $1.38 billion. Adjusted EPS came in at $1.67, above the $1.45 consensus. The advertising segment led growth, with 71% YoY revenue expansion and a record 81% margin.
The company guided second-quarter ad revenue to $1.195–$1.215 billion, above consensus, with adjusted EBITDA of $970M–$990M. Analysts <a href="https://www.benzinga.com/analyst-ratings/analyst-color/25/05/45323056/applovins-rapid-ad-growth-ai-gains-drive-hike-in-analyst-price-forecast">responded positively</a>: BofA reaffirmed a Buy with a $580 target, while Goldman Sachs and JPMorgan raised targets to $435 and $355, respectively.
Read Also: <a href="https://www.benzinga.com/economics/macro-economic-events/25/05/45376487/wall-street-edges-higher-as-inflation-cools-nasdaq-100-hits-10-week-highs">Wall Street Climbs As Inflation Cools, Nasdaq 100 Hits 10-Week Highs</a>
What Else: AppLovin's rally was further fueled by easing macro pressures. On Monday, markets rallied after the U.S. and China agreed to <a href="https://www.benzinga.com/government/regulations/25/05/45347089/wall-street-rips-higher-as-tariff-truce-halts-us-china-economic-escalation">slash tariffs</a> significantly for 90 days, reducing economic uncertainty and inflation risks. April's CPI data confirmed cooling inflation, reinforcing investor optimism.
Despite a cautious second-quarter outlook due to limited advertiser onboarding capacity, management expects reacceleration as a self-serve platform launches.
Read Also: <a href="https://www.benzinga.com/news/earnings/25/05/45363616/hertz-stock-hits-the-brakes-following-q1-earnings-results-key-details-from-the-report">Hertz Stock Hits The Brakes Following Q1 Earnings Results: Key Details From The Report</a>
<h2 class="wp-block-heading">How To Buy APP Stock</h2>
By now you're likely curious about how to participate in the market for AppLovin &#8211; be it to purchase shares, or even attempt to bet against the company.
Buying shares is typically done through a brokerage account. You can find a list of <a href="https://www.benzinga.com/money/best-stock-trading-platforms">possible trading platforms here.</a> Many will allow you to buy &#8220;fractional shares,&#8221; which allows you to own portions of stock without buying an entire share.
In the case of AppLovin, which is trading at $370.02 as of publishing time, $100 would buy you 0.27 shares of stock.
If you're looking to bet against a company, the process is more complex. You'll need access to an options trading platform, or a broker who will allow you to &#8220;go short&#8221; a share of stock by lending you the shares to sell. The process of shorting a <a href="https://www.benzinga.com/money/how-to-short-a-stock">stock can be found at this resource.</a> Otherwise, if your broker allows you to trade options, you can either buy a put option, or sell a call option at a strike price above where shares are currently trading &#8211; either way it allows you to profit off of the share price decline.
According to data from&nbsp;<a href="https://benzinga.grsm.io/register174">Benzinga Pro</a>, APP has a 52-week high of $525.15 and a 52-week low of $60.67.

AppLovin Stock Surges On Strong Q1 Earnings And Tariff Truce Tailwinds

AppLovin Corp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/APP#NASDAQ">APP</a>), Salesforce, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CRM#NYSE">CRM</a>), Datadog, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/DDOG#NASDAQ">DDOG</a>) and Atlassian Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TEAM#NASDAQ">TEAM</a>) stocks traded higher Monday after the U.S. and China agreed to a temporary reduction in most tariffs on <a href="https://www.benzinga.com/government/regulations/25/05/45347089/wall-street-rips-higher-as-tariff-truce-halts-us-china-economic-escalation">each other&#8217;s goods.</a>
What To Know: The trade deal will lower U.S. duties on Chinese goods from 145% to 30% and Chinese tariffs on U.S. imports from 125% to 10% for a three-month period, according to <a href="https://www.msn.com/en-us/money/markets/us-china-agree-to-lower-most-tariffs-for-90-days-amid-trade-talks/ar-AA1EAVhw?ocid=BingNewsSerp">The Washington Post</a>.
On the U.S. side, the talks were led by Trade Representative&nbsp;Jamieson Greer&nbsp;and Treasury Secretary&nbsp;Scott Bessent, while Vice Premier&nbsp;He Lifeng&nbsp;led the discussions for China.
Bessent said in a news conference, "The consensus from both delegations this weekend is that neither side wants a decoupling, and what had occurred with these very high tariffs was the equivalent of a trade embargo, and neither side wants that.&#8221; Bessent further added that both countries want more balanced trade.
The existing 30% U.S. tariff on Chinese goods consists of a 10% base rate plus a 20% additional tariff added by President Donald Trump in response to concerns over China's role in producing fentanyl-related chemicals.
The U.S. is also reportedly urging China to increase its purchases of American products.
Software stocks may be rising as the tariff reduction fuels optimism that improved U.S.-China relations could support global economic growth.
Price Action: Applovin stock closed 5.89% higher at $347.90, Salesforce shares closed 4.87% higher at $288.82, Datadog shares closed 5.14% higher at $113.42 and Atlassian stock closed 7.82% higher at $223.75.
See Also: 
 • <a href="https://www.benzinga.com/insights/earnings/25/05/45355288/a-look-ahead-acurx-pharmaceuticalss-earnings-forecast">A Look Ahead: Acurx Pharmaceuticals&#8217;s Earnings Forecast</a>
Image: This illustration was generated using artificial intelligence via Midjourney.

DDOG

TEAM

AppLovin, Salesforce, Other Software Stocks Rally On Tariff Relief

ADBE

ADSK

ALLT

ALRM

AMPL

ANSS

APPS

BILL

BRZE

CCRD

CFLT

CIFR

CRNC

DOCU

DTSS

ESTC

FIVN

FROG

FRSH

FTNT

GRRR

GTLB

KVYO

LDTC

MANH

MAWSON INFRSTRUCTURE GRP by Mawson Infrastructure Group Inc.

MIGI

NISN

NTRP

Next Technology Holding Inc. - Ordinary Shares

NXTT

OBLG

PANW

PCOR

PONY

SAIL

SNPS

SOUN

TENB

VEEA

WULF

ZETA

Shares of software stocks are trading higher amid overall market strength after the US and China agreed to a temporary reduction in most tariffs on each other's goods.

Goldman Sachs analyst Eric Sheridan maintains AppLovin (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/APP#NASDAQ">APP</a>) with a Neutral and raises the price target from $335 to $435.

Price Target

Goldman Sachs Maintains Neutral on AppLovin, Raises Price Target to $435

This whale alert can help traders discover the next big trading opportunities.
Whales are entities with large sums of money and we track their transactions here at Benzinga on our options activity scanner.
Traders will search for circumstances when the market estimation of an option diverges heavily from its normal worth. High amounts of trading activity could push option prices to exaggerated or underestimated levels. 
Here's the list of options activity happening in today's session: 
<table>
<thead>
<tr>
<th>Symbol</th>
<th>PUT/CALL</th>
<th>Trade Type</th>
<th>Sentiment</th>
<th>Exp. Date</th>
<th>Strike Price</th>
<th>Total Trade Price</th>
<th>Open Interest</th>
<th>Volume</th>
</tr>
</thead>
<tbody>
<tr>
<td>NVDA</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>05/16/25</td>
<td>$118.00</td>
<td>$35.0K</td>
<td>14.1K</td>
<td>31.0K</td>
</tr>
<tr>
<td>MSTR</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>05/16/25</td>
<td>$480.00</td>
<td>$43.5K</td>
<td>2.9K</td>
<td>23.1K</td>
</tr>
<tr>
<td>AAPL</td>
<td>CALL</td>
<td>TRADE</td>
<td>BEARISH</td>
<td>05/09/25</td>
<td>$197.50</td>
<td>$28.8K</td>
<td>4.6K</td>
<td>18.7K</td>
</tr>
<tr>
<td>MSFT</td>
<td>PUT</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>05/16/25</td>
<td>$435.00</td>
<td>$118.7K</td>
<td>1.4K</td>
<td>1.6K</td>
</tr>
<tr>
<td>ANET</td>
<td>PUT</td>
<td>TRADE</td>
<td>BEARISH</td>
<td>05/23/25</td>
<td>$85.00</td>
<td>$35.6K</td>
<td>118</td>
<td>650</td>
</tr>
<tr>
<td>APP</td>
<td>PUT</td>
<td>TRADE</td>
<td>BULLISH</td>
<td>05/16/25</td>
<td>$330.00</td>
<td>$46.0K</td>
<td>1.5K</td>
<td>436</td>
</tr>
<tr>
<td>FIVN</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>10/17/25</td>
<td>$30.00</td>
<td>$31.3K</td>
<td>421</td>
<td>262</td>
</tr>
<tr>
<td>AVGO</td>
<td>PUT</td>
<td>TRADE</td>
<td>BULLISH</td>
<td>05/23/25</td>
<td>$197.50</td>
<td>$31.0K</td>
<td>150</td>
<td>193</td>
</tr>
<tr>
<td>PRO</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>11/21/25</td>
<td>$17.50</td>
<td>$32.2K</td>
<td>5</td>
<td>150</td>
</tr>
<tr>
<td>CRM</td>
<td>PUT</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>06/20/25</td>
<td>$270.00</td>
<td>$35.6K</td>
<td>4.8K</td>
<td>83</td>
</tr>
</tbody>
</table>

<h2>Explanation</h2>
These bullet-by-bullet explanations have been constructed using the accompanying table. 
• Regarding NVDA (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>), we observe a call option sweep with bearish sentiment. It expires in 7 day(s) on May 16, 2025. Parties traded 175 contract(s) at a $118.00 strike. This particular call needed to be split into 13 different trades to become filled. The total cost received by the writing party (or parties) was $35.0K, with a price of $200.0 per contract. There were 14139 open contracts at this strike prior to today, and today 31099 contract(s) were bought and sold. 
• For MSTR (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSTR#NASDAQ">MSTR</a>), we notice a call option sweep that happens to be bearish, expiring in 7 day(s) on May 16, 2025. This event was a transfer of 281 contract(s) at a $480.00 strike. This particular call needed to be split into 15 different trades to become filled. The total cost received by the writing party (or parties) was $43.5K, with a price of $155.0 per contract. There were 2993 open contracts at this strike prior to today, and today 23163 contract(s) were bought and sold. 
• For AAPL (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>), we notice a call option trade that happens to be bearish, is expiring today. Parties traded 300 contract(s) at a $197.50 strike. The total cost received by the writing party (or parties) was $28.8K, with a price of $96.0 per contract. There were 4694 open contracts at this strike prior to today, and today 18758 contract(s) were bought and sold. 
• For MSFT (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSFT#NASDAQ">MSFT</a>), we notice a put option sweep that happens to be bearish, expiring in 7 day(s) on May 16, 2025. This event was a transfer of 261 contract(s) at a $435.00 strike. This particular put needed to be split into 28 different trades to become filled. The total cost received by the writing party (or parties) was $118.7K, with a price of $455.0 per contract. There were 1451 open contracts at this strike prior to today, and today 1643 contract(s) were bought and sold. 
• For ANET (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ANET#NYSE">ANET</a>), we notice a put option trade that happens to be bearish, expiring in 14 day(s) on May 23, 2025. This event was a transfer of 155 contract(s) at a $85.00 strike. The total cost received by the writing party (or parties) was $35.6K, with a price of $230.0 per contract. There were 118 open contracts at this strike prior to today, and today 650 contract(s) were bought and sold. 
• Regarding APP (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/APP#NASDAQ">APP</a>), we observe a put option trade with bullish sentiment. It expires in 7 day(s) on May 16, 2025. Parties traded 39 contract(s) at a $330.00 strike. The total cost received by the writing party (or parties) was $46.0K, with a price of $1180.0 per contract. There were 1594 open contracts at this strike prior to today, and today 436 contract(s) were bought and sold. 
• For FIVN (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FIVN#NASDAQ">FIVN</a>), we notice a call option sweep that happens to be bearish, expiring in 161 day(s) on October 17, 2025. This event was a transfer of 110 contract(s) at a $30.00 strike. This particular call needed to be split into 31 different trades to become filled. The total cost received by the writing party (or parties) was $31.3K, with a price of $285.0 per contract. There were 421 open contracts at this strike prior to today, and today 262 contract(s) were bought and sold. 
• Regarding AVGO (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AVGO#NASDAQ">AVGO</a>), we observe a put option trade with bullish sentiment. It expires in 14 day(s) on May 23, 2025. Parties traded 100 contract(s) at a $197.50 strike. The total cost received by the writing party (or parties) was $31.0K, with a price of $310.0 per contract. There were 150 open contracts at this strike prior to today, and today 193 contract(s) were bought and sold. 
• For PRO (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PRO#NYSE">PRO</a>), we notice a call option sweep that happens to be bullish, expiring in 196 day(s) on November 21, 2025. This event was a transfer of 150 contract(s) at a $17.50 strike. This particular call needed to be split into 4 different trades to become filled. The total cost received by the writing party (or parties) was $32.2K, with a price of $215.0 per contract. There were 5 open contracts at this strike prior to today, and today 150 contract(s) were bought and sold. 
• For CRM (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CRM#NYSE">CRM</a>), we notice a put option sweep that happens to be bullish, expiring in 42 day(s) on June 20, 2025. This event was a transfer of 30 contract(s) at a $270.00 strike. This particular put needed to be split into 4 different trades to become filled. The total cost received by the writing party (or parties) was $35.6K, with a price of $1190.0 per contract. There were 4870 open contracts at this strike prior to today, and today 83 contract(s) were bought and sold. 
Options Alert Terminology 
 - Call Contracts: The right to buy shares as indicated in the contract. 
 - Put Contracts: The right to sell shares as indicated in the contract. 
 - Expiration Date: When the contract expires. One must act on the contract by this date if one wants to use it. 
 - Premium/Option Price: The price of the contract. 
For more information, visit our <a href="https://pro.benzinga.com/blog/how-to-understand-option-alerts/">Guide to Understanding Options Alerts</a> or read <a href="https://www.benzinga.com/markets/options">more about unusual options activity</a>. 
This article was generated by Benzinga's automated content engine and reviewed by an editor.

ANET

AVGO

Financial giants have made a conspicuous bullish move on AppLovin. Our analysis of options history for AppLovin (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/APP#NASDAQ">APP</a>) revealed 75 unusual trades.
Delving into the details, we found 49% of traders were bullish, while 33% showed bearish tendencies. Out of all the trades we spotted, 26 were puts, with a value of $1,215,406, and 49 were calls, valued at $5,258,148.
<h3>Predicted Price Range</h3>
Based on the trading activity, it appears that the significant investors are aiming for a price territory stretching from $140.0 to $770.0 for AppLovin over the recent three months. 
<h3>Analyzing Volume &amp; Open Interest</h3>
Looking at the volume and open interest is a powerful move while trading options. This data can help you track the liquidity and interest for AppLovin's options for a given strike price. Below, we can observe the evolution of the volume and open interest of calls and puts, respectively, for all of AppLovin's whale trades within a strike price range from $140.0 to $770.0 in the last 30 days. 
<h3>AppLovin Call and Put Volume: 30-Day Overview</h3>
<img src="https://www.benzinga.com/files/images/story/2025/1746810191_0.png" alt="Options Call Chart" />
<h3>Biggest Options Spotted:</h3>

<table>
<thead>
<tr>
<th>Symbol</th>
<th>PUT/CALL</th>
<th>Trade Type</th>
<th>Sentiment</th>
<th>Exp. Date</th>
<th>Ask</th>
<th>Bid</th>
<th>Price</th>
<th>Strike Price</th>
<th>Total Trade Price</th>
<th>Open Interest</th>
<th>Volume</th>
</tr>
</thead>
<tbody>
<tr>
<td>APP</td>
<td>CALL</td>
<td>TRADE</td>
<td>BEARISH</td>
<td>09/19/25</td>
<td>$73.4</td>
<td>$69.0</td>
<td>$69.0</td>
<td>$320.00</td>
<td>$690.0K</td>
<td>207</td>
<td>100</td>
</tr>
<tr>
<td>APP</td>
<td>CALL</td>
<td>TRADE</td>
<td>NEUTRAL</td>
<td>06/17/27</td>
<td>$179.0</td>
<td>$172.0</td>
<td>$175.0</td>
<td>$260.00</td>
<td>$350.0K</td>
<td>34</td>
<td>20</td>
</tr>
<tr>
<td>APP</td>
<td>CALL</td>
<td>SWEEP</td>
<td>NEUTRAL</td>
<td>06/20/25</td>
<td>$154.2</td>
<td>$150.6</td>
<td>$150.6</td>
<td>$185.00</td>
<td>$301.0K</td>
<td>4</td>
<td>20</td>
</tr>
<tr>
<td>APP</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>06/20/25</td>
<td>$13.9</td>
<td>$13.0</td>
<td>$13.9</td>
<td>$390.00</td>
<td>$298.8K</td>
<td>190</td>
<td>260</td>
</tr>
<tr>
<td>APP</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>05/16/25</td>
<td>$11.7</td>
<td>$11.0</td>
<td>$11.0</td>
<td>$350.00</td>
<td>$253.0K</td>
<td>3.9K</td>
<td>1.0K</td>
</tr>
</tbody>
</table>

<h3>About AppLovin</h3>
AppLovin is a vertically integrated advertising technology company that acts as a demand-side platform for advertisers, a supply-side platform for publishers, and an exchange facilitating transactions between the two. About 80% of AppLovin's revenue comes from the DSP, AppDiscovery, while the remainder comes from the SSP, Max, and gaming studios, which develop mobile games. AppLovin announced in February 2025 its plans to divest from the lower-margin gaming studios to focus exclusively on the ad tech platform. AppLovin's primary tool for future growth is Axon 2, which is an ad optimizer operating within the DSP that allows advertisers to place ads according to specified return thresholds.
In light of the recent options history for AppLovin, it's now appropriate to focus on the company itself. We aim to explore its current performance.
<h3>AppLovin's Current Market Status</h3>
<ul>
<li>With a volume of 5,115,700, the price of APP is up 0.82% at $342.3. </li>
<li>RSI indicators hint that the underlying stock may be approaching overbought.</li>
<li>Next earnings are expected to be released in 89 days.</li>
</ul>
<h3>What Analysts Are Saying About AppLovin</h3>
A total of 5 professional analysts have given their take on this stock in the last 30 days, setting an average price target of $441.0.
Turn $1000 into $1270 in just 20 days?
20-year pro options trader reveals his one-line chart technique that shows when to buy and sell. Copy his trades, which have had averaged a 27% profit every 20 days. <a href="https://www.benzinga.com/premium/ideas/options-moneyline-2/?t=Moop1arja3be22op14&amp;adType=benzinga-insights&amp;ad=options-activity&amp;campaign=wallstreetadvantage">Click here for access</a>. 
&#x2A; In a cautious move, an analyst from Oppenheimer downgraded its rating to Outperform, setting a price target of $500. 
&#x2A; Consistent in their evaluation, an analyst from Morgan Stanley keeps a Overweight rating on AppLovin with a target price of $420. 
&#x2A; An analyst from Piper Sandler persists with their Overweight rating on AppLovin, maintaining a target price of $425. 
&#x2A; An analyst from Benchmark has revised its rating downward to Buy, adjusting the price target to $525. 
&#x2A; Consistent in their evaluation, an analyst from Goldman Sachs keeps a Neutral rating on AppLovin with a target price of $335. 
Options are a riskier asset compared to just trading the stock, but they have higher profit potential. Serious options traders manage this risk by educating themselves daily, scaling in and out of trades, following more than one indicator, and following the markets closely.
If you want to stay updated on the latest options trades for AppLovin, <a href="https://www.benzinga.com/pro/">Benzinga Pro</a> gives you real-time options trades alerts.

Market Whales and Their Recent Bets on APP Options

Applovin Corp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/APP#NASDAQ">APP</a>) stock closed higher by 12% on Thursday after the company reported better-than-expected <a target="_blank" href="https://www.benzinga.com/trading-ideas/movers/25/05/45289648/applovin-stock-is-rising-thursday-whats-going-on" rel="noreferrer noopener">first-quarter financial</a> results on Wednesday.
AppLovin reported&nbsp;quarterly sales of $1.48 billion, beating the consensus estimate of $1.38 billion and representing a 40% year-over-year increase.
The company reported adjusted earnings per share of $1.67, beating the consensus estimate of $1.45.&nbsp;
The company guided second-quarter advertising revenue of $1.19 billion-$1.21 billion.
Also Read: <a target="_blank" href="https://www.benzinga.com/25/05/45264550/muddy-waters-doubles-down-on-applovin-in-new-short-report-ahead-of-q1-earnings" rel="noreferrer noopener">Muddy Waters Doubles Down On AppLovin In New Short Report Ahead Of Q1 Earnings</a>
Wall Street analysts rerated the stock after the report:
<ul class="wp-block-list">
<li>JP Morgan analyst Cory Carpenter maintained AppLovin with a Neutral and raised the <a href="https://www.benzinga.com/quote/APPN/analyst-ratings" target="_blank" rel="noreferrer noopener">price target from $270 to $355</a>.</li>
<li>Goldman Sachs analyst Eric Sheridan reiterated a Neutral on AppLovin and raised the price target from $335 to $435.</li>
<li>BofA Securities analyst Omar Dessouky maintained AppLovin with a Buy and a price target of $580.</li>
</ul>
JP Morgan: The rerating reflects risk shares could underperform in a weaker macro environment given e-commerce exposure and less advertiser breadth than larger ad platforms.
Applovin revenue grew 40% year over year, and adjusted EBITDA grew 83% year over year, topping management guidance of 29% and 59%. The advertising segment once again drove the upside, with revenue growth of 71% year over year and adjusted EBITDA growth of 92% year over year to a record 81% margin.
Management called out model enhancements and a full quarter contribution of e-commerce ads, with gaming accounting for most of the sequential growth.
Applovin guided to advertising revenue of $1.195-1.215 billion (69% Y/Y) and advertising adjusted EBITDA of $970 million-990 million (88% Y/Y, 81% margin), both well above the consensus of $1.100 billion and $863 million. The outlook implies sequential revenue growth of 3%-5%, which reflects seasonality and resource constraints in onboarding new advertisers until the self-serve platform opens up.
Carpenter projected second-quarter revenue of $1.22 billion and EPS of $2.01.
Goldman Sachs: AppLovin management emphasized key themes in its first-quarter earnings report. Strong advertising revenue performance on the back of continued success with its Axon 2.0 platform and the early scaling of its push into the e-commerce opportunity.
A focus on executing against their advertising opportunity on the back of technological scaling. A focus on driving operational efficiencies with an aim toward the compounded effect of high incremental margins. In addition, AppLovin announced it has reached an agreement to sell its legacy Apps business to Tripledot Studios as it completes its multi-year strategic shift towards advertising.
Over the long term, Sheridan maintains that AppLovin has a collection of businesses that can produce above-average advertising/marketing industry growth and a strong margin profile in a normalized mobile ads/mobile gaming landscape in the coming years.
Sheridan projected second-quarter revenue of $1.51 billion and EPS of $2.12.
BofA Securities: First-quarter advertising segment revenue grew by 71% Y/Y, topping company and Dessouky estimates. Over half of the sequential growth came from gaming advertisers, from which he noted that e-commerce grew to $180 million (ahead of Dessouky&#8217;s estimate of $150 million), up from $100 million in the fourth quarter.
The pace of web merchant onboarding slowed compared to December because AppLovin&#8217;s e-commerce team remains small and must manage the advertisers who have already been onboarded while onboarding new advertisers.
Demand remains overwhelmingly strong, and the rollout of its self-service dashboard this quarter will re-accelerate onboarding, likely beyond 100 incremental monthly advertisers.
Management sounded somewhat cautious on second-quarter 2025 guidance (advertising segment +5% Q/Q), citing the temporary slowdown in web merchant onboarding; guidance does not assume a meaningful increase in e-commerce net revenue.
Nonetheless, he modeled 11% sequentially because AI model enhancements in the quarter could result in step change performance and results ahead of his model. Moreover, second-quarter e-commerce industry sales benefit from ~5% seasonality.
Dessouky projected second-quarter revenue of $1.60 billion and EPS of $2.34.
Price Action:&nbsp;APP stock is down 2.73% to $331.84 at the last check on Friday.
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