On August 5, AppLovin Corporation rose 3.05% in regular trading, trading at $435.06 per share, with turnover of $94.42 million.

On the news front, the company is scheduled to release its second-quarter earnings report after market close the same day, while multiple institutions have raised their price targets, boosting market sentiment. UBS raised its target price on AppLovin from $750 to $798, maintaining a Buy rating. Wedbush expects the company to report Q2 revenue of approximately $1.97 billion and adjusted EBITDA of approximately $1.66 billion, both exceeding the company's guidance range, and forecasts 4%-6% sequential revenue growth for Q3. Market consensus expects EPS of $3.72, representing approximately 64.6% year-over-year growth. The current Wall Street average target price stands at approximately $668, implying significant upside from the current stock price, reflecting strong institutional bullish sentiment overall.

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