Applovin upgraded to strong buy, as shares hit 52-week low

Phillip Securities upgraded Applovin Corp (APP) to strong-buy from moderate buy on August 12, 2026. The stock hit a new 52-week low of $318.12 during intraday trading. Shares declined after second-quarter results missed Wall Street revenue and earnings expectations.

BTIG Research reduced its price target for the company to $408.00 from $574.00. BTIG maintained its buy rating on the stock despite the revision. Management linked the performance miss to the timing of model improvements in the core advertising segment.

Analysts highlighted strong year-over-year revenue growth and high margins as reasons for optimism. Some investors view the recent price plunge as a potential buying opportunity.