10 Buzzing AI Stocks on Market Radar

8. AppLovin Corporation (NASDAQ:APP)

Number of Hedge Fund Holders: 110

AppLovin Corporation (NASDAQ:APP) is one of the 10 Buzzing AI Stocks on Market Radar. On February 2, Piper Sandler analyst James Callahan reiterated an Overweight rating on the stock with an $800.00 price target. The firm believes fears related to META bidding and Google’s Genie are overblown, noting valuation as compelling.

Citing positive gaming trends, the firm noted sellers.json total supply growth at the company remains consistent at an estimated 30% year-over-year. Moreover, app-ads.txt data appears to be consistent with AppLovin’s commentary that volume across MAX is growing at least low-double digits year-over-year.

Piper Sandler discussed Friday’s selloff, noting how it coincided with Google launching a beta of general-purpose world model known as Project Genie. There were also industry reports that Meta may be bidding more aggressively on off-platform mobile gaming inventory.

Project Genie is an AI-driven platform, currently a research prototype, which enables users to create gameplay worlds from text and images without relying on a traditional game engine.

According to the firm, Project Genie isn’t much of an issue but the META situation appears to be more controversial. It suggests that it’s likely too early to characterize these as more than tests.

AppLovin Corporation (NASDAQ:APP) provides a leading marketing platform powered by AI technology.