On August 4, AppLovin Corporation rose 3.31% in after-hours trading, trading at $433.17 per share, with turnover of $47.91 million. The stock gained ahead of its scheduled Q2 earnings release on August 5 after market close, as multiple institutions raised price targets and signaled confidence in an earnings beat.

On the news front, UBS raised its price target on AppLovin Corporation from $750 to $798 while maintaining a buy rating. Wedbush Securities projected Q2 revenue of approximately $1.97 billion and adjusted EBITDA of approximately $1.66 billion, both expected to exceed company guidance. The brokerage further forecast 4% to 6% sequential revenue growth for Q3. Market consensus expects Q2 EPS of $3.72, representing approximately 64.6% year-over-year growth. The average Wall Street price target stands at approximately $668, implying significant upside from current levels. Raymond James also initiated coverage with a strong buy rating and a $640 target price, reflecting broadly bullish institutional sentiment heading into the earnings event.

(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)