15 AI Stocks to Watch: News and Analyst Ratings

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11. AppLovin Corporation (NASDAQ:APP)

Number of Hedge Fund Holders: 51

AppLovin Corporation (NASDAQ:APP), a prominent marketing software company, leverages its AI-powered platform to provide targeted and automated marketing solutions.

On November 21, Piper Sandler analyst James Callahan initiated coverage of AppLovin Corporation (NASDAQ:APP) with an Overweight rating and a $400 price target. According to the analysts, Applovin’s shares have been “appropriately re-rated” after its AI-driven growth, but there is still an upside. They further state that the company’s technology has driven advertising revenue growth well above the market, and there is room to drive monetization and engagement higher as well. Piper further asserts that Applovin shares justify a premium valuation despite trading slightly above the group average.

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