5 Best Booming Stocks to Buy Right Now

 2. Applovin Corp (NASDAQ:APP)

Number of Hedge Fund Investors: 38

Applovin Corp (NASDAQ:APP) shares have gained about 47% year to date through February 21.

The stock jumped after the company recently posted Q4 results, beating estimates for both EPS and revenue. Jefferies analyst Andrew Uerkwitz increased his price target on the stock to $70 from $60.

Oppenheimer has also increased its price target on the stock to $70.

ClearBridge Mid Cap Growth Strategy made the following comment about AppLovin Corporation (NASDAQ:APP) in its Q3 2023 investor letter:

“Stock selection in the IT sector was the main detractor during the quarter, as the prospect of a higher-for-longer rate environment weighed on longer-duration, higher growth stocks. Despite these challenges, there were also strong positive contributions from Splunk and AppLovin. Splunk’s price rallied on the news of its acquisition by Cisco, and investors applauded AppLovin Corporation’s (NASDAQ:APP) new, AI-enabled platform which is improving productivity in its mobile games ad network.”