Robust Revenue and Earnings Growth Assert AppLovin Corporation (APP) as a Top Tech Stock in Louis Navellier’s Portfolio

AppLovin Corporation (NASDAQ:APP) is one of the top tech stocks in Louis Navellier’s portfolio. On May 7, Wolfe Research reiterated an Outperform rating on AppLovin Corporation (NASDAQ:APP) and raised the price target to $580 from $575.

Robust Revenue and Earnings Growth Assert AppLovin Corporation (APP) as a Top Tech Stock in Louis Navellier's Portfolio

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The bullish stance and price target hike comes on the heels of AppLovin Corp delivering impressive first-quarter 2026 results driven by mobile advertising and e-commerce growth. Revenue in the quarter was up 59% year over year to $1.84 billion. Net income was up 109% to $1.2 billion as adjusted EBITDA totaled $1.56 billion, up 66% year over year.

Diluted earnings per share came in at $3.56 as the company also repurchased 2.2 million shares at a total cost of $1 billion. Mobile gaming advertising and e-commerce were the catalysts behind the robust first-quarter results, as April’s monthly revenue exceeded that of any previous fourth-quarter month, which is usually the strongest season.

The growth momentum is expected to continue in the second quarter, with management forecasting revenue of between $1.915 billion to $1.945 billion. Adjusted EBITDA is expected to be between $1.615 billion and $1.645 billion.

AppLovin Corporation (NASDAQ:APP) is a leading mobile technology company that provides AI-powered software solutions to help developers and businesses market, monetize, and publish their apps. Their platform connects advertisers with users, primarily driving growth for mobile apps through advanced analytics, in-app bidding, and AI-driven ad targeting.

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