AppLovin hit an all-time-high stock price on Wednesday, reaching $130.60 per share at the end of the trading day. The company rose $69.71 in the past 52 weeks based on its success.

Macquarie raised the firm’s price target from $115 to $150, keeping an Outperform rating on the shares.

The firm thinks the rally is justified, saying AppLovin has created a “virtuous circle” in its software platform mobile advertising technology that enables it to outpace the market through its “superior access” to gaming data and its “leading” artificial intelligence, according to one media report.

Global mobile commerce is expected to reach $3.4 billion by 2027 — up from $2.5 billion this year, according to Statista Market Insights, July 2023.

Companies like Meta, Google, and Arm want to bring more AI to mobile phones. On Wednesday at the Meta Connect Conference, product managers at Meta and Arm, which partnered to work on compact AI, unveiled small models built to run on phones, competing against Gemini AI on the Google Pixel 9 Pro, and Apple Intelligence set to launch on the new iPhone 16 series

On the same day that AppLovin’s stock hit its financial high, the company released a report suggesting customers acquired through in-app ads are more engaged and loyal than those from social media.

For instance, in the fintech sector, in-app ad customers open their apps nine times per month on average, compared with 5.8 times for social media-acquired customers. The report provides a framework for starting and scaling in-app advertising and details key insights.

Nearly 50% of online transactions will occur on mobile devices this year and are expected to reach 62% by the end of 2025. AppLovin’s Consumer Mobile Trends 2024 report provides a framework for scaling in-app advertising.

• By 2025, mobile payments will account for 79% of all digital transactions, with the market projected to reach $607.9 billion by 2030. Banking app users are expected to exceed 3.6 billion this year.
• Global mcommerce sales are projected to hit $2.5 trillion in 2024, representing 60% of total e-commerce sales, with 100 billion hours spent in shopping apps worldwide in 2023.
• Health and fitness apps generated $4.45 billion in 2023, with 75% of that revenue driven from subscriptions and fitness technology market.

Shifts in consumer behavior have impacted mobile spending through a reliance on mobile devices.

Brands can reach more than 5 billion global smartphone users every day with mobile in-app advertising. Safety is built in. Mobile apps are subject to app store reviews and guidelines.

AppLovin hit an all-time-high stock price on Wednesday, reaching $ 130.60 per share. The company has risen $ 69.71 in the past 52 weeks, based on its success.