On August 5, AppLovin Corporation rose 3.37% overnight, trading at $433.55/share, with turnover of $54,600.

On the news front, multiple institutions raised their price targets ahead of the company's Q2 earnings report scheduled for after-hours on August 5. UBS lifted its target price from $750 to $798 while maintaining a Buy rating. Wedbush projects Q2 revenue of approximately $1.97 billion and adjusted EBITDA of about $1.66 billion, both expected to exceed company guidance, with Q3 sequential revenue growth forecast at 4%-6%. Market consensus expects Q2 EPS of $3.72, representing approximately 64.6% year-over-year growth. The current Wall Street average target price of approximately $668 implies significant upside from current levels, reflecting broadly bullish institutional sentiment toward the AI-driven advertising platform.

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