NEW YORK, Jan 17, 2026, 05:05 ET — Market closed.
- AppLovin shares dropped 6.3% on Friday, closing at $568.76.
- Evercore ISI kicked off coverage, assigning an Outperform rating and setting the price target at $835.
- AppLovin will release its Q4 and full-year 2025 earnings on Feb. 11.
AppLovin Corporation (NASDAQ:APP) shares dropped 6.3% Friday, closing at $568.76. The stock swung between a high of $615.98 and a low of $560.05 during the session. Roughly 8.6 million shares traded hands.
The dip is significant ahead of the holiday-shortened week for U.S. markets, as traders weigh risk appetite amid an active earnings season. “To finish the week around flat… most investors will take that as a win,” said Ameriprise Financial’s Anthony Saglimbene in a Reuters interview. 1
AppLovin’s recent pullback comes alongside fresh bullish coverage from the sell side. Evercore ISI’s Robert Coolbrith kicked off coverage with an Outperform rating and set a $835 price target. He described AppLovin as the “dominant” ad-tech platform in mobile gaming, highlighting its growing e-commerce performance channel. Coolbrith forecasts revenue and EBITDA growth above 30% annually through 2028; EBITDA excludes interest, taxes, and depreciation. 2
In reality, the stock’s been acting like a momentum play once more — shooting up swiftly, then dropping just as fast. Investors have shown little patience, often selling off even on positive news when overall market sentiment sours.
Next week won’t be quiet. Investors are pinning hopes on corporate earnings to steer markets amid a turbulent policy landscape, Reuters reported. Key reports are coming from Netflix, Johnson & Johnson, and Intel, while attention also turns to the Fed’s independence and developments in Washington. “Because of the amount of noise… it is literally an imperative that earnings actually carry the news cycle,” said Art Hogan of B Riley Wealth. 3
On the corporate front, a Form 4 submitted to the U.S. Securities and Exchange Commission revealed that director Maynard G. Webb Jr. was granted 28 restricted stock units on Jan. 15, which vested immediately. 4
AppLovin still faces a cloud hanging over it in investor talks. Reuters reported in October that the U.S. SEC is investigating the company’s data-collection practices following short-seller claims about targeted ad delivery and potential breaches of platform-partner rules. AppLovin has declined to comment on possible regulatory issues. 5
The selloff earlier this week hit more than just AppLovin. Enterprise software stocks dropped Wednesday, with AppLovin and Unity each down roughly 9% by midday. It’s a clear sign traders are still shuffling out of high-beta software names. 6
When trading resumes Tuesday, attention will be on whether the stock holds firm after the long weekend or if profit-taking accelerates ahead of earnings. Analyst notes could influence moves, but the bigger picture on the tape will be crucial—particularly if volatility ramps up during the early 2026 earnings season.
The next major event arrives on Feb. 11, when AppLovin will release its Q4 and full-year 2025 earnings after U.S. markets close. CEO Adam Foroughi and CFO Matthew Stumpf will then host a webcast at 5:00 p.m. ET. 7
