5 Best S&P 500 Stocks to Buy Now According to Analysts

3. AppLovin Corporation (NASDAQ:APP)

Upside Potential as of June 14: 33.86%

AppLovin Corporation (NASDAQ:APP) enables businesses to advertise profitably with marketing technologies that attract customers, increase revenue, and track ad performance. The company provides end-to-end software and AI solutions for businesses to reach, monetize, and grow their global audiences.

On June 5, Edgewater Research upgraded AppLovin Corporation (NASDAQ:APP) from ‘Neutral’ to ‘Outperform’. The analyst, however, did not assign the stock a price target.

Similarly, earlier on June 2, Citi also added an “upside 90-day catalyst watch” on AppLovin Corporation (NASDAQ:APP). The analyst firm maintained its ‘Buy’ rating on the stock and assigned it a $710 price target, indicating an upside of 43% from the current levels.

Citi believes that AppLovin’s estimates could see upward revisions as its e-commerce platform shifts to general availability by June 30. The analyst is of the view that a broader rollout may accelerate store growth and boost e-commerce revenue.

Citi also noted that the company seems to have ramped up its marketing efforts for Axon ahead of the general launch, as Axon.ai recently secured sponsorships for both the All-In podcast and Founders podcasts. The analyst firm expects AppLovin to further increase its marketing efforts ahead of the general launch later this month.