Mobile tech producer AppLovin (APP) has just reached an all-time high price after receiving a massive target upgrade from Wall Street. Bank of America Securities analyst Omar Dessouky has increased his price target on APP stock from $120 to $210, almost it doubling it. News of this bullish sentiment has generated considerable positive momentum for APP stock, pushing it to new heights.
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Why Is AppLovin Stock Up Today?
Following news of the BofA Securities price target upgrade, APP stock is rising steadily. As of this writing, it is up 8% for the day, and its current trajectory is that this growth will continue. After a week of mostly trending downward, APP stock has snapped its losing streak and reached an all time high price point of $156. AppLovin has displayed strong growth over the past six months, rising almost 130%.
Now, Dessouky’s bullish take on the company suggests that APP stock is likely to continue making progress. The analyst, whose new price target implies an upside of nearly 35%, maintains a Buy rating on APP stock. BofA Securities sees AppLovin’s new AI-powered engine, Axon 2.0, as a likely growth-driving catalyst for the growth stock.
As The Fly reports, “The firm raised its calendar year 2025 and 2026 Software topline growth estimates by 600 and 300 basis points, respectively, based on increased confidence in the core business of mobile game ads and raised the valuation multiple the firm applies to its calendar year 2026 EBITDA estimate”
Is APP Stock a Strong Buy?
Not all experts are so bullish on APP stock. Analysts have a Moderate Buy consensus rating on APP stock based on 10 Buys, three Holds, and one Sell assigned in the past three months, as indicated by the graphic below. Despite a 300% rally in its share price over the past year, the average APP price target of $128 represents a 17% decline from current levels.
