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AppLovin stock drops 58% in 2026 despite strong revenue growth and bullish analyst targets.

Analyst Insights
02 Oct 2026
24/7 Wall Street
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Neutral
AppLovin stock drops 58% in 2026 despite strong revenue growth and bullish analyst targets.

AppLovin's stock has fallen nearly 60% in 2026, hitting a 52-week low around $275, despite the company reporting explosive revenue growth of 52.8% in Q2 and billion-dollar profits. The stock price drop was driven by two sharp earnings day declines, missed revenue estimates attributed to timing issues, and short-seller allegations, which the company denies. Analysts remain mostly bullish, with 27 out of 33 rating it a Buy or Strong Buy and a consensus price target of $497, implying about 77% upside. The company’s AI-driven ad-tech platform shows strong margins and growth potential, especially with e-commerce expansion, but upcoming Q3 results will be critical to confirm the rebound. Valuation at about 15 times forward earnings suggests much of the risk is priced in, though some analysts have recently lowered earnings estimates.

AppLovin's stock trades at USD 266.00 on Pluang as of Oct 02, 2026 19:13 WIB, down 5.44% in one day. The market cap stands at $94.14 billion, with a high sell order activity of 75%. Typical holding time on Pluang is 19 days, reflecting active trading amid recent volatility.

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AppLovin remains a buy despite 58% YTD drop, with strong growth and margins expected ahead.

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