10 AI News Taking Wall Street by Storm

5. AppLovin Corporation (NASDAQ:APP)

Number of Hedge Fund Holders: 51

AppLovin Corporation (NASDAQ:APP) is a leading marketing platform powered by artificial intelligence technology. On December 5, Stifel raised the firm’s price target on AppLovin to $435 from $250 and kept a “Buy” rating on the shares. The analyst told investors in a research note that the company’s software platform business is benefiting from AXON 2.0, an updated version of Applovin’s AI-powered ad tech software. AXON 2.0 offers a competitive edge by using data from the company’s market-leading mediation platform to improve the accuracy of its predictive algorithms utilized by AppDiscovery. The firm also expressed increased confidence in AppLovin’s expansion into the e-commerce advertising market. As it does so, the company will also focus on controlling costs which is expected to boost its profit margins and increase cash flow.