AppLovin (APP) is making waves in the ad-tech industry with its AI-driven advertising and strong earnings momentum. The company’s AI-powered Axon 2 platform has boosted performance across its network, expanding into non-gaming mobile apps, connected TV, and more. Benchmark raised its price target on AppLovin due to rising e-commerce adoption and solid margin strength.

In its Q3 earnings report, AppLovin exceeded expectations with a 68% YoY revenue increase to $1.41 billion. Adjusted EBITDA rose 79% to $1.16 billion, with margins expanding to 82%. The company expects this momentum to continue into Q4 with revenue projections between $1.57 billion and $1.60 billion.

Analysts are bullish on AppLovin, with a consensus “Strong Buy” rating and a Street-high price target of $860, suggesting further potential gains.

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