E-comm/AI catalysts, Axon-2 growth, price volatility amid rally, mixed signals
Key Questions
What was AppLovin (APP) stock's recent closing price and daily change?
AppLovin (APP) closed at $410.44, down 0.54%. This followed a 52-week low of $396.41 and prior after-hours low around $398, with highs reaching $413 during a 7% rally.
What is the 52-week low for AppLovin stock?
AppLovin stock hit a 52-week low of $396.41. It was also noted as a prior low around $398 after hours.
Why did AppLovin stock jump 7% recently?
The stock jumped 7% to highs of $413, making it a Nasdaq100 gainer from $372 on April 1. This rally occurred despite overall price volatility amid analyst upgrades on AI growth and revenue estimates.
What is BTIG's rating and price target for AppLovin?
BTIG reiterated a Buy rating on AppLovin with a price target of $640. This follows their note on Q1 revenue bump to $1.82B.
How is AppLovin's AXON platform performing?
AppLovin's AXON platform is gaining traction among mid-market advertisers and agencies. This growth is highlighted despite the stock hitting a 52-week low.
What are some recent analyst price targets for AppLovin?
Analysts have issued high price targets including BTIG at $640, Oppenheimer at $660, Wells Fargo raising to around $560, and others like Needham and Simply Wall St up to $989. Wedbush, Evercore, Jefferies also show bullish views with targets around $750.
What is Jim Cramer's opinion on AppLovin?
Jim Cramer described AppLovin as a 'very fine business' with fantastic growth and impressive profitability. This positive view contrasts with the stock's 41% YTD drop.
What technical indicators suggest for AppLovin stock?
APP is down 41% YTD, 25% below its 200-day moving average, with RSI at 39 indicating oversold conditions and support at $360. Seeking Alpha sees 44% upside potential despite a P/E of 40.5x.
$410.44 close -0.54% (52-wk low $396.41, prior low $398/AH $415; +7% $413 highs/Nasdaq100 gainer from $372 Apr1) despite BTIG Q1 $1.82B bump/Wedbush AI/Evercore/Wells/Jefferies $750 PTs/Needham/Simply Wall St $989/OpenAI/social pivot vs Meta; AXON gaining traction with mid-market advertisers/agencies; 41% YTD drop/25% below 200DMA/RSI39 oversold/$360 supp; Seeking Alpha 44% upside vs P/E 40.5x/Hedgeye/SEC/vol/Cramer. Watch borrow/opt/PT/H1/vol/AI/Hedgeye/CloudX-Meta/Wells/Oppen/Simply Wall St/Needham/Jefferies/BTIG/Wedbush/market disconnect pre-May6.