12 Best AI and Technology Stocks to Buy Now

9. AppLovin Corporation (NASDAQ:APP)

Number of Hedge Fund Holders: 91

AppLovin Corporation (NASDAQ:APP) is one of the Best AI and Technology Stocks to Buy Now. On June 29, Raymond James initiated coverage on the company’s stock with a “Strong Buy” rating, setting a price objective of $640.00. As per the firm, AppLovin Corporation (NASDAQ:APP)’s expansion into the e-commerce advertising market can act as a significant long-term growth opportunity. This can result in positive estimate revisions.

Furthermore, the analyst noted ongoing reinforcement learning as well as periodic enhancements to the Axon model, which can help fuel growth in the advertising business. The firm sees AppLovin Corporation (NASDAQ:APP) as a critical mobile in-app advertising platform in the market that is historically under-monetized.

In a different update, analyst Omar Dessouky from Bank of America Securities reiterated a “Buy” rating on AppLovin Corporation (NASDAQ:APP)’s stock and maintained the price objective of $705.00. The analyst’s rating is backed by several factors, which include steady expansion of the company’s Axon eCommerce footprint and a healthy long-term growth outlook.

AppLovin Corporation (NASDAQ:APP) offers end-to-end AI-powered advertising solutions for businesses.