NEW YORK, Jan 15, 2026, 05:37 EST — Premarket
- APP edged higher ahead of the open, following a 7.6% decline in the previous session
- Evercore ISI kicked off coverage, assigning an Outperform rating and setting the target at $835
- Investors are focused on the Feb. 11 results and the regulatory environment surrounding data practices
AppLovin shares edged up $2.28, or 0.37%, to $620.04 in premarket trading Thursday, rebounding from a 7.61% drop that sent them down to $617.76 at Wednesday’s close. 1
This swing is significant since AppLovin has turned into a momentum-driven stock once more — it can surge sharply, then fall even faster when risk appetite cools. A one-day plunge like Wednesday’s usually attracts both bargain hunters and rapid-fire sellers, leading to lighter trading volume early on.
Analyst coverage and any negative headlines hit harder than normal. Traders are scrambling to tell apart routine profit-taking from deeper concerns—regulatory risks and the upcoming earnings report loom large.
The broader market weighed on sentiment. The tech-focused Nasdaq slipped roughly 1% on Wednesday, while the S&P 500 dropped 0.53%, as investors pulled back from tech and bank stocks for a second day running, according to a Reuters market wrap. 2
Evercore ISI’s Robert Coolbrith kicked off coverage with an Outperform rating and a price target of $835, labeling AppLovin as the “dominant” ad tech platform in mobile gaming. He also highlighted its growing foothold in e-commerce performance advertising. Coolbrith forecasts more than 30% compound annual growth in revenue and EBITDA — a cash-profit metric — from 2025 through 2028. 3
Evercore projects mobile gaming ad spending will grow roughly 23% annually through 2028, citing stronger game monetization and AI-enhanced ad conversion. The firm also highlighted AppLovin’s move into performance advertising for e-commerce as a key factor extending its growth potential beyond gaming. 4
AppLovin’s stock was all over the place Wednesday. It kicked off the day at $673, hit a peak of $675, then tumbled down to a low of $596.76, closing at $617.76, per the company’s investor page. 5
AppLovin joined the S&P 500 fairly recently, entering the index during the September 2025 rebalance. This move tends to broaden its shareholder base and can draw in more passive and systematic investment flows. 6
The risk, however, is clear. Bloomberg News reported in October that the U.S. Securities and Exchange Commission is probing AppLovin over its data-collection practices. At the time, Reuters noted the company declined to comment on any ongoing regulatory investigations. 7
AppLovin will release its fourth-quarter and full-year 2025 earnings on Feb. 11, right after the U.S. market closes. The company also plans a management webcast at 5:00 p.m. ET, it announced. 8
