14 Stocks That Will Double in the Next 5 Years

​7. AppLovin Corporation (NASDAQ:APP)

EPS Growth This Year: 60.57%

EPS Growth Next 5 Years: 39.04%

Number of Hedge Fund Holders: 108

​AppLovin Corporation (NASDAQ:APP) is among the Stocks That Will Double in the Next 5 Years.

​On April 13, Joseph Bonner from Argus Research initiated a Buy rating on AppLovin Corporation (NASDAQ:APP) with a price target of $520. The analyst noted that the stock has suffered from the “SaaSamageddon” effect, which was a wave of negative sentiment around SaaS stocks due to fears that AI models could disrupt or replace traditional software services. However, the firm noted that despite the negative sentiment, the fundamentals of AppLovin remain strong, indicating a double-digit revenue growth and expanding profit margins.

​Moreover, the analyst noted that the valuation of the stock had risen sharply before the correction. Therefore, the recent sell-off has created a compelling entry point for investors to buy the stock at a cheaper valuation.

​Overall, the Street remains bullish on AppLovin Corporation (NASDAQ:APP) with 85% of the 34 analysts covering the stock maintaining a Buy rating. The average 12-month price target on the stock suggests more than 37% upside from the current level.

​AppLovin Corporation (NASDAQ:APP) is a software-based advertising and app monetization company. It operates through two segments, Advertising and Apps. The company also develops and publishes free-to-play mobile games through its studios and partners.