Applovin Corp (NASDAQ:APP) is soaring Thursday after the company beat analyst estimates with first-quarter financial results Wednesday. Here's what analysts are saying about the results and the company's guidance.
The Applovin Analysts
- Bank of America Securities analyst Omar Dessouky reiterated a Buy rating on Applovin with a price target of $705.
- JPMorgan analyst Cory Carpenter maintained a Neutral rating and raised the price target from $500 to $515.
Bank of America on APP Stock
Dessouky said the first-quarter results were not the surprise wanted, but enough to keep a Buy rating.
"Gaming strength raises floor on stock, but lack of eCommerce surprise keeps new money on sidelines 2Q26," Dessouky said.
The analyst said the guidance was weaker than expected, but it might be conservative.
"Valuation remains cheap, growth adjusted."
Dessouky said the results are encouraging that March ad spend was 25% higher than January, but commentary suggests a "more drawn-out ramp for new advertisers."
April advertising spend hit new all-time highs, and Bank of America tracking showed 1,600 advertisers in the month.
JPMorgan on APP Stock
Applovin guidance was mostly in line with expectations, Carpenter said in a new investor note.
The analyst said the gaming segment helped with the first-quarter beat, while the consumer segment is ramping into April.
"We believe gaming accounted for the vast majority – or perhaps all -of the sequential growth, though management noted consumer grew 25% from January to March," Carpenter said.
The analyst said second-quarter guidance seems conservative given the commentary on the strength in April.
"We are positive on APP's positioning as the clear leader in mobile gaming ad monetization, but we have less conviction around the scaling of consumer over time."
APP Stock Price Action
Applovin stock is up 6% to $496.85 on Thursday versus a 52-week trading range of $320.00 to $745.61. Applovin stock is down 26.3% year-to-date in 2026.
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