Oppenheimer Keeps Outperform Rating on AppLovin (APP) After Reports of SEC Probe

Core Insights - AppLovin Corporation (NASDAQ:APP) is recognized as one of the top 10 American AI stocks to buy according to analysts, with Oppenheimer reaffirming an Outperform rating and a price target of $740 [1][2] Investigation Details - The SEC is investigating AppLovin for potential violations related to service agreements on targeted advertising, following a whistleblower complaint and reports from short-sellers [2][3] - Oppenheimer noted that the SEC's investigation is based on a whistleblower complaint filed this year, and there are additional open requests related to AppLovin in SEC FOIA logs [3] Market Outlook - Despite the SEC probe potentially causing short-term volatility, Oppenheimer maintains a long-term bullish outlook for AppLovin, asserting that the company's fundamentals remain intact [4] - AppLovin is described as a technology company providing end-to-end software and AI solutions for businesses to engage and grow their audiences [4]