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Applovin Corp

NASDAQ: APP · COMMUNICATION SERVICES · ADVERTISING AGENCIES

$446.35
+0.66% today

Updated 2026-04-30

Market cap
$150.74B
P/E ratio
44.65
P/S ratio
27.50x
EPS (TTM)
$10.04
Dividend yield
—
52W range
$246 – $746
Volume
4.7M
OverviewPrice TargetsFinancialsValuationInsidersEarnings

Applovin Corp (APP) Financial Forecast & Price Target 2030

Research-backed projections from analyst consensus, management guidance, and sector analysis.

Price target summary

Current
$446.35
Consensus
$694.44
+55.58%
2030 Target
$981.92
+119.99%
DCF
$211.13
-80.55% MoS
18 analysts:
8 Buy2 Hold0 Sell

Management guidance

No specific multi-year revenue targets disclosed by CEO Adam Foroughi in available research. Company guided to strong Q1 2026 results and teased e-commerce launch by H1 2026 as a multi-year growth driver. Management has emphasized AI-driven AXON platform and gaming advertising as core growth engines but has not provided explicit 2026-2030 revenue targets.

Sources: Management guidance, analyst consensus, sector analysishigh confidence

Revenue & price projection

Actual revenue Projected revenue Base case Bull to bear range
Bull case (2030)
$1,521.98
$21.4B Rev × 23.5x P/S
Base case (2030)
$981.92
$21.4B Rev × 14.7x P/S
Bear case (2030)
$589.15
$21.4B Rev × 8.8x P/S

Financial forecast — research-backed

Metric2023202420252026 (E)2027 (E)2028 (E)2029 (E)2030 (E)
Revenue$3.3B$4.7B$5.5B$8.1B$10.5B$13.2B$16.9B$21.4B
Revenue growth—43.4%16.4%47.9%29.1%26.0%27.8%27.1%
EPS$1.00$4.54$9.85$15.74$20.49$26.50$34.25$43.75
P/S ratio———14.7x14.7x14.7x14.7x14.7x
Implied price———$343.67$490.96$589.15$736.44$981.92

Catalysts & risks

Growth catalysts
+ E-commerce platform launch (H1 2026) as multi-year growth driver per Morgan Stanley conference
+ AI-driven AXON advertising engine expansion and market share gains in mobile gaming ads
+ Mobile gaming recovery and increased app session retention as mainstream consumer channel
+ Potential Google regulatory pressure relief or algorithmic changes favoring independent DSPs
Key risks
- Regulatory scrutiny: SEC investigation into internal communications, App Store Accountability Acts limiting ad targeting
- Google competitive threat: Genie 3 algorithm update and potential further product changes could reduce AppLovin's DSP moat
- Insider selling pressure: CEO, CTO, and director Eduardo Vivas executed significant share disposals in March 2026 (totaling $30M+)
- Premium valuation: P/E of 47.6x leaves limited margin for error; growth deceleration from 47.9% (2026E) could trigger sharp multiple compression
- Macroeconomic sensitivity: High growth tech stocks vulnerable to rate hikes; geopolitical uncertainty impacting ad budgets

Methodology

Applovin Corp's forward estimates are derived from AI-powered research synthesis combining analyst consensus from 18 Wall Street analysts, management guidance from the latest earnings call, and sector growth forecasts from industry research. Revenue and EPS projections use analyst consensus where available and conservative extrapolation with growth deceleration for outer years. Price targets are calculated using a tiered Price-to-Sales (P/S) methodology, where the P/S multiple is determined by the projected revenue growth rate.

WallStSmart proprietary research model · Not financial advice · Past performance is not indicative of future results · Last researched: April 21, 2026.