10 AI Stocks Making Waves on Wall Street

7. AppLovin Corporation (NASDAQ:APP)

Number of Hedge Fund Holders: 95

AppLovin Corporation (NASDAQ:APP) provides a leading marketing platform powered by AI technology. On February 27, BTIG analyst Clark Lampen reiterated a “Buy” rating on the stock with an associated price target of $600.00. The rating aims to address the reports issued by short sellers Fuzzy Panda and Culper Research against AppLovin about it misrepresenting the benefits of its AI advertising platform.

Lampen asserted that the issues, such as the alleged fraudulent download activity, don’t impact the company’s performance. He further stated how the majority of download activities are preloads. These do not affect performance as revenue is generated through user engagement and spending within apps. Claims regarding mediation practices are also unfounded, noted the firm, stating that these practices are standard in the industry.