10 Buzzing AI Stocks Making Headlines

5. AppLovin Corporation (NASDAQ:APP)

Number of Hedge Fund Holders: 51

AppLovin Corporation (NASDAQ:APP) operates a leading marketing platform that’s powered by AI technology. On December 6, Citi raised the firm’s price target on AppLovin (APP) to $460 from $335 and kept a “Buy” rating on the shares. The firm is bullish on the company’s growth prospects, particularly in mobile gaming and eCommerce. As a result, it has slightly raised its forecast and recalibrated its target multiple to accurately reflect the company’s peer group and growth prospects. The management has also pointed out the company’s model enhancements, which is supported by AppLovin’s AI-driven tools like Axon 2.0, the company’s advertising platform that optimizes ad targeting and performance. In addition, early traction from the firm’s push into eCommerce, also heavily reliant on AI, and the potential scope to improve conversion rates, were also highlighted.