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APP 
Applovin Corp (APP)
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Upturn Advisory Summary
12/01/2025: APP (5-star) is currently NOT-A-BUY. Pass it for now.
Upturn Star Rating
Outstanding Performance
These Stocks/ETFs, based on Upturn Advisory, have historically outperformed the market, making them a top-tier choice for investors.
Number of Analysts
26 Analysts rated it
Well-followed company, solid analyst reports, reliable data for confident investing.
1 Year Target Price $719.74
1 Year Target Price $719.74
| 16 | Strong Buy |
| 4 | Buy |
| 4 | Hold |
| 1 | Sell |
| 1 | Strong Sell |
Analysis of Past Performance
Type Stock | Historic Profit 1576.39% | Avg. Invested days 40 | Today’s Advisory PASS |
Upturn Star Rating | Upturn Advisory Performance  4.0 | Stock Returns Performance  5.0 |
| Profits based on simulation | Last Close 12/01/2025 |
Key Highlights
Company Size Large-Cap Stock | Market Capitalization 202.77B USD | Price to earnings Ratio 70.94 | 1Y Target Price 719.74 |
Price to earnings Ratio 70.94 | 1Y Target Price 719.74 | ||
Volume (30-day avg) 26 | Beta 2.5 | 52 Weeks Range 200.50 - 745.61 | Updated Date 12/1/2025 |
52 Weeks Range 200.50 - 745.61 | Updated Date 12/1/2025 | ||
Dividends yield (FY) - | Basic EPS (TTM) 8.45 |
Analyzing Revenue: Products, Geography and Growth
Revenue by Products
Product revenue - Year on Year
Revenue by Geography
Geography revenue - Year on Year
Earnings Date
Report Date 2025-11-05 | When After Market | Estimate 2.39 | Actual 2.45 |
Profitability
Profit Margin 44.88% | Operating Margin (TTM) 76.8% |
Management Effectiveness
Return on Assets (TTM) 36.79% | Return on Equity (TTM) 241.89% |
Valuation
Trailing PE 70.94 | Forward PE 41.67 | Enterprise Value 204442329400 | Price to Sales(TTM) 32.15 |
Enterprise Value 204442329400 | Price to Sales(TTM) 32.15 | ||
Enterprise Value to Revenue 32.41 | Enterprise Value to EBITDA 54.68 | Shares Outstanding 307597000 | Shares Floating 242878120 |
Shares Outstanding 307597000 | Shares Floating 242878120 | ||
Percent Insiders 18.73 | Percent Institutions 83.34 |
Upturn AI SWOT
Applovin Corp
Company Overview
History and Background
AppLovin Corporation was founded in 2012. Initially focused on helping mobile game developers market their apps, it has evolved into a comprehensive platform for app developers. It went public in April 2021.
Core Business Areas
- Software Platform: Provides tools and services for app developers to grow and monetize their apps, including marketing automation, analytics, and monetization technologies like MAX and AppDiscovery.
- Apps: Develops and publishes a portfolio of mobile games and apps. This segment generates revenue through in-app purchases and advertising.
Leadership and Structure
Adam Foroughi is the co-founder and CEO. The company operates with a functional organizational structure, with teams dedicated to software platform development, app publishing, sales, and marketing.
Top Products and Market Share
Key Offerings
- MAX (Mediation):: A mediation platform allowing app developers to connect to multiple ad networks to maximize ad revenue. Competitors include IronSource (now Unity), Google AdMob, and MoPub (acquired by AppLovin). Market share is substantial, making them a leader in mediation platforms for mobile apps, although specific figures fluctuate, estimates have it as one of the largest.
- Revenue: Reporting 1.047B in 2023
- AppDiscovery: A platform connecting app developers with users to drive app installs. Competitors include Facebook Ads, Google Ads, and Unity Ads. AppLovin has a competitive advantage through its own portfolio of apps, providing a direct source of users.
- Revenue: Reporting 2.272B in 2023
- Revenue: Reporting 2.404B in 2023
- Software Platform Overall: Encompasses all software tools to help developers. This business encompasses the majority of AppLovin's revenue.
Market Dynamics
Industry Overview
The mobile advertising and app development industry is highly competitive and rapidly evolving. Growth is driven by increasing smartphone penetration and rising consumer engagement with mobile apps.
Positioning
AppLovin is positioned as a leading provider of tools and services for app developers, with a strong focus on monetization and user acquisition. Its competitive advantage lies in its integrated platform and extensive data analytics capabilities.
Total Addressable Market (TAM)
The global mobile advertising market is estimated to be worth hundreds of billions of dollars. AppLovin is well-positioned to capture a significant share of this market through its suite of products and services. Estimates suggest a TAM in the hundreds of billions.
Upturn SWOT Analysis
Strengths
- Strong technology platform
- Large user base
- Proprietary data analytics capabilities
- Experienced management team
- Diversified revenue streams
Weaknesses
- Reliance on the mobile advertising market
- Competition from larger players
- Integration risks from acquisitions
- Dependence on Apple's IDFA policies
Opportunities
- Expansion into new geographic markets
- Development of new products and services
- Acquisition of complementary businesses
- Increasing demand for mobile advertising
- Cross platform capabilities
Threats
- Changes in privacy regulations
- Increased competition
- Economic downturn
- Technological disruptions
- Shift in user behaviors
Competitors and Market Share
Key Competitors
- U
- CRTO
- PUBM
- MGNI
Competitive Landscape
AppLovin faces competition from larger and smaller players in the adtech space. It differentiates itself through its integrated platform, proprietary data, and strong relationships with app developers.
Major Acquisitions
MoPub (from Twitter)
- Year: 2022
- Acquisition Price (USD millions): 1.05
- Strategic Rationale: Expanded AppLovin's ad mediation platform and increased its reach to more app developers.
Growth Trajectory and Initiatives
Historical Growth: AppLovin has experienced strong revenue growth in recent years, driven by the increasing demand for mobile advertising and its successful product offerings.
Future Projections: Analysts expect AppLovin to continue to grow at a healthy pace in the coming years, driven by its strong market position and innovative technology.
Recent Initiatives: Recent initiatives include acquisitions of other adtech companies and the expansion of its product offerings, such as Axon.
Summary
AppLovin is a strong company within the mobile advertising ecosystem and it benefits from a strong platform, but needs to be concerned about privacy changes from Apple. Their ability to provide a comprehensive set of tools to app developers gives them a major competitive advantage. Its balance sheet and growth trajectory are strong, with recent strategic acquisitions. The company's long-term success depends on its ability to adapt to changes in the mobile advertising landscape and integrate its acquisitions effectively.
Similar Stocks
Sources and Disclaimers
Data Sources:
- Company SEC Filings (10-K, 10-Q)
- Analyst Reports
- Industry Publications
- Company Press Releases
- Earnings Calls
Disclaimers:
This analysis is for informational purposes only and should not be considered financial advice. Market conditions and company performance can change rapidly. Consult with a financial advisor before making any investment decisions.
AI Summarization is directionally correct and might not be accurate.
Summarized information shown could be a few years old and not current.
Fundamental Rating based on AI could be based on old data.
AI-generated summaries may have inaccuracies (hallucinations). Please verify the information before taking action.
About Applovin Corp
Exchange NASDAQ | Headquaters Palo Alto, CA, United States | ||
IPO Launch date 2021-04-15 | Co-Founder, CEO & Chairperson Mr. Adam Arash Foroughi | ||
Sector Communication Services | Industry Advertising Agencies | Full time employees 1533 | Website https://www.applovin.com |
Full time employees 1533 | Website https://www.applovin.com | ||
AppLovin Corporation engages in building a software-based platform for advertisers to enhance the marketing and monetization of their content in the United States and internationally. It operates through two segments, Advertising and Apps. The company offers AppDiscovery, an advertising solution, which matches advertiser demand with publisher supply through auctions; MAX, an in-app bidding technology that optimizes the value of a publisher's advertising inventory by running a real-time competitive auction; Adjust, a measurement and analytics marketing platform that provides marketers with the visibility, insights, and data needed to scale their apps marketing; and Wurl, a connected TV platform, which distributes streaming video for content companies and provides advertising and publishing solutions through its AdPool, TVBits, BrandDiscovery, ContentDiscovery, and Global FAST Pass products. It also provides SparkLabs, which uses app store optimization to enhance ad visibility; AppLovin Exchange, which connects buyers to mobile and CTV devices through a single RTB exchange; and Array, an end-to-end app management suite for mobile operators and end users. In addition, the company operates various free-to-play mobile games through its own or partner studios. It serves individuals, small and independent businesses, enterprises, advertisers and advertising networks, mobile app publishers, and indie studio developers. AppLovin Corporation was incorporated in 2011 and is headquartered in Palo Alto, California.
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