Meet the Newest AI Stock in the Nasdaq-100. It Soared 2,140% in 2 Years and Is Still a Buy, According to a Wall Street Analyst.

The Nasdaq-100 tracks the 100 largest non-financial companies on the Nasdaq Stock Market. On Nov. 18, mobile advertising company AppLovin (NASDAQ: APP) joined the index, replacing discount store Dollar Tree.AppLovin has been one of the fastest-growing stocks on the market. Its share price surged 2,140% during the last two years, more than doubling Nvidia's return during that period. Yet among the 29 analysts that follow the company, 79% still rate the stock a buy.Moreover, James Callahan at Piper Sandler recently initiated coverage on the company with a target price of $400 per share. That forecast implies 25% upside from its current share price of $321. Read on to learn more about this supercharged artificial intelligence (AI) stock.Continue readingWeiter zum vollständigen Artikel bei MotleyFool Weiter zum vollständigen Artikel bei MotleyFool