10 Unstoppable Growth Stocks To Buy

3. AppLovin Corporation (NASDAQ:APP)

Year-to-date Share Price Return as of May 17: 112.71%

Number of Hedge Fund Holders: 38

AppLovin Corporation (NASDAQ:APP) offers an advertisement platform to advertisers for the improvement of their marketing and monetization strategies. The company’s main platform offerings include AppDiscovery, SafeDK, and MAX. AppLovin Corporation (NASDAQ:APP) was held by 38 hedge funds in the fourth quarter of 2023 and the stakes amounted to $1.91 billion. GQG Partners is the most dominant shareholder of the company and has a position worth $1.02 billion as of Q4 of 2023.

As of May 17, the stock is 112.71% higher on a year-to-date basis. The company is among the most unstoppable growth stocks to buy on our list.

On May 8, AppLovin Corporation (NASDAQ:APP) announced Q1 earnings. The GAAP EPS was $0.67, which beat the market consensus by $0.12. The revenue topped the estimates by $85.3 million at $1.06 billion and grew 48.2% year-over-year.

SaltLight Capital stated the following regarding AppLovin Corporation (NASDAQ:APP) in its fourth quarter 2023 investor letter:

“AppLovin Corporation (NASDAQ:APP) operates at the intersection of game advertisers, publishers, and over one billion game players, functioning as a pivotal monetisation enabler in the free-to-play gaming ecosystem.

One of AppLovin’s strengths lies in its primary use of contextual data for ad matching. While this type of data may not offer the high precision of first-party data like Meta’s, it remains invaluable, especially in environments where traditional data signals are weaker. Contextual targeting becomes increasingly relevant in areas like connected TV (CTV), where direct user tracking is more challenging.

Connected TV, which includes devices (smart TVs, consoles, or sticks) that stream TV content, represents a flourishing opportunity set for performance-based digital advertising. As more households move away from traditional satellite or terrestrial TV in favour of internet-connected devices, the potential for monetising this viewership grows. However, advertising on CTV is still operating in the same seventy-year-old way as linear TV – with brand advertising as the dominant part of the funnel…” (Click here to read the full text)