"After hitting an all-time high of $525.15 last February, AppLovin Corp.'s ( NASDAQ: APP) share price tumbled more than 35% due to a pending class action lawsuit and to short seller reports. However, the software company's better-than-expected quarterly reports this year have given the stock a boost. The stock hit a new high of $745.61 in September. AppLovin stock is again trading near that high and is 112.8% higher than a year ago, outperforming the S&P 500 and the Nasdaq in that time."
"It is worth remembering that AppLovin experienced a drawdown of more than 90% from its post-pandemic high in 2021. So, is this stock headed for further declines, or is its momentum sustainable? Let's dive into some catalysts and price predictions around where this stock could go for the rest of 2025 through to the end of this decade. As mentioned, AppLovin investors have to contend with plenty of news."
AppLovin's share price hit an all-time high of $525.15 in February, then tumbled over 35% amid a pending class action lawsuit and short-seller reports. Better-than-expected quarterly results drove a rebound to a $745.61 high in September, leaving the stock about 112.8% higher year-over-year and 1,154.1% higher since its 2021 IPO. The company provides software that enhances marketing and monetization for online advertisers and benefits from strong secular growth trends that attract retail investors. AppLovin experienced a greater-than-90% drawdown from its 2021 post-pandemic high. Analysts remain mixed, though Benchmark and Jefferies kept Buy ratings.
Read at 24/7 Wall St.
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