AppLovin stock trims gains as revenue rises 52.8%
Published on 08/29/2026 at 11:58 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS
AppLovin Corp. (US03782L1017) moved on August 28, 2026, after shares closed at $317.76, up 1.6%, with intraday trading reaching $335.45 and market value at $106.34 billion. The same session also left the stock well below its 2026 opening level of $673.82, a drop that has kept valuation in sharp view.
Quarterly numbers still drive the debate
The most recent quarterly report showed revenue of $1.92 billion for Q2 2026, up 52.8% from the prior year, while adjusted EPS came in at $3.76 and matched estimates. Net margin was 64.58%, and the quarter delivered $1.27 billion of net income, which helped explain why the business still commands premium attention even after the year-to-date reset.
That mix matters because the company also guided Q3 2026 revenue to $2.055 billion-$2.085 billion, implying 46% to 48% growth from a year earlier. In other words, the top line still points higher even as the stock has moved through a much lower price band in late August.
Analysts stay active
Recent brokerage commentary has kept AppLovin in the analyst flow, with one published update lifting a target to $798 from $750 while maintaining a Buy rating. Another report cited a consensus target of $552.74 and a Moderate Buy stance, which sits far above the recent close and underscores how divided the valuation discussion has become.
Those figures do not resolve the near-term path, but they frame the market's question cleanly: whether operating momentum and guidance can offset the sharp 2026 rerating. For investors, the tension is between a 52.8% quarterly revenue surge and a share price that remains far below its opening level for the year.
Axon remains central
Axon, AppLovin's self-serve advertising platform, remains the key product lens for the business because it sits at the center of the company's automation and monetization push. The platform matters because it ties growth, margins, and ad demand into one operating story rather than a loose collection of product lines.
Price and setup
AppLovin stock last closed at $317.76 on August 28, 2026, after trading between $335.45 and $312.63 during the session. The market cap stood at $106.34 billion, with recent volatility keeping the shares in a wide trading range.
Fact box
Company: AppLovin Corp.
ISIN: US03782L1017
Ticker: APP
Exchange: NASDAQ
Price (as of August 28, 2026, 4:00 p.m. ET): $317.76 USD
Market cap: $106.34 billion (as of August 28, 2026)
Sector / Industry: Technology / Software - Application
Index membership: Nasdaq-100
