Published: December 4, 2025 – informational market commentary, not investment advice.
Key Takeaways
- Share price: AppLovin (NASDAQ: APP) is trading in the high-$670s today, up roughly 3% intraday and extending a powerful multi-session rally from the low $600s earlier this week. [1]
- Fundamentals: Q3 2025 revenue jumped 68% year over year to about $1.41 billion, with net income from continuing operations of $836 million (59% margin) and adjusted EBITDA margin around 82%, among the highest in all of adtech and even software. [2]
- Growth drivers: AppLovin’s AXON 2.0 AI engine, exploding e‑commerce merchant adoption, and expansion into connected TV (CTV) via Wurl are central to the bull case. [3]
- Fresh December news: Bank of America reiterated a Buy with an $860 price target after data showed AXON’s e‑commerce pixel footprint up ~25% month over month in November, while Guggenheim Capital disclosed a higher position in APP as of today. [4]
- Street view: Consensus across major aggregators is “Strong Buy”, with average 12‑month price targets in the $708–$715 range and a median around $750, implying modest upside from current levels after a huge run in 2024–2025. [5]
- Risks: The stock faces a formal SEC investigation into data‑collection practices, ongoing short‑seller allegations, possible state‑level privacy probes, and heavy insider selling, alongside a valuation around 80x trailing earnings and ~45x forward earnings. [6]
Where AppLovin Stock Trades Today
As of early afternoon on December 4, 2025, AppLovin shares trade around $670–$685, with one real‑time feed showing about $675 per share and another at $682.22 (+3.0%) shortly after 10:25 a.m. ET. [7]
That rally continues a powerful multi‑day move:
- Dec 1: Closed at $623.59 (+4.0%)
- Dec 2: Closed at $653.00 (+4.7%)
- Dec 3: Closed at $662.21 (+1.4%) [8]
According to MarketBeat’s snapshot today, APP now carries: [9]
- 52‑week range: roughly $200.50–$745.61
- Market cap: ~$224 billion
- Trailing P/E: about…