13 Best Aggressive Growth Stocks to Buy Now

4. AppLovin Corporation (NASDAQ:APP)

Year-Over-Year Revenue Growth: 43.44%

Number of Hedge Fund Holders: 95

AppLovin Corporation (NASDAQ:APP) is an American mobile technology company that ranks among the best aggressive growth stocks to buy now. The company offers end-to-end software and AI solutions for businesses of all sizes to reach, monetize, and grow their global audiences. AppLovin Corporation (NASDAQ:APP) is making moves to enhance its advertising AI models, which are still in the early stages.

On April 11, UBS analyst Chris Kuntarich lowered the firm’s price target on AppLovin Corporation (NASDAQ:APP) from $630 to $450 but kept a “Buy” rating. The analyst addressed concerns stemming from a short report that made e-commerce advertisers more cautious. Kuntarich noted that investor concerns are easing while market confidence is still delicate. Despite challenges, channel check feedback on AppLovin Corporation’s (NASDAQ:APP) performance remains positive. Kuntarich does not expect any major algorithm adjustments in the first quarter. UBS forecasts AppLovin Corporation’s (NASDAQ:APP) e-commerce revenue for the first quarter at $90 million compared to the buy-side expectation of approximately $125 million. Kuntarich is confident in AppLovin Corporation’s (NASDAQ:APP) growth prospects, especially in the advertising sector as he believes the company can achieve a compound annual growth rate of over 40% in advertising revenue over the next 3 years. This growth is expected to be driven by an increase in gaming user acquisition, which should deliver improved Return on Ad Spend (ROAS) for gaming customers, and the growth of the company’s e-commerce strategy. This strategy is forecasted to grow from 2% of total ad revenue in fiscal year 2024 to 24% in fiscal year 2027.