NEW YORK, Jan 9, 2026, 12:38 EST — Regular trading
- AppLovin shares are up about 4% by midday, running ahead of a firmer Nasdaq
- Wells Fargo bumps its price target up to $735 and keeps an Overweight rating
- Investors look to Feb. 11 results for direction and a clearer take on ad demand
AppLovin shares gained 4.4% on Friday after Wells Fargo raised its price target on the advertising software company, leaving the stock far out in front of a broader tech bounce. The stock added $26.91 to $643.44, after trading in a $612.65 to $649.51 range; the Invesco QQQ Trust was up about 0.9% and the SPDR S&P 500 ETF was up about 0.7%.
Wells Fargo analyst Alec Brondolo lifted his price target to $735 from $721 and reiterated an Overweight rating, a sign the bank sees the stock beating its peers. The new target is roughly 14% above Friday’s trading level. Heading into results, Wells bumped its fourth-quarter revenue estimate by 3% after strong mobile-game checks. Still, it said “web ads trends are mixed” and called the March-quarter consensus a “high bar” given the company’s record of conservative guidance. Wells also noted better “prospecting” activity — ads meant to bring in new customers — while spend from existing advertisers appeared roughly flat. TipRanks
AppLovin said it will report fourth-quarter and full-year 2025 results on Feb. 11 after the U.S. stock market closes. A webcast is set for 5 p.m. ET, hosted by Chief Executive Adam Foroughi and Chief Financial Officer Matthew Stumpf. The date gives traders a near-term marker as the stock tries to steady after a choppy start to the year.
The gains came as traders digested a softer U.S. jobs report and reworked expectations for rates ahead of the Federal Reserve’s Jan. 27-28 policy meeting. “All roads lead to the unemployment rate,” said Olu Sonola, head of U.S. economic research at Fitch Ratings, saying the weak job-growth story “can’t be brushed aside.” Reuters
Other ad-tech names edged up as well, with Unity Software up about 0.6% and The Trade Desk gaining roughly 0.2% by midday.
Even so, higher-growth stocks can take a beating when investors start fretting about valuations and rates, particularly after a strong multi-year run in U.S. equities, Reuters columnist Jamie McGeever wrote this week. For AppLovin, the bear case is simple: a cautious outlook, or any hint that ad budgets are tightening, could wipe out Friday’s gains in a hurry.
Next up is the Feb. 11 report, followed by the first-quarter forecast. Investors are also watching the Fed later this month for any shift that could reset risk appetite across growth stocks.
