Dec. 11 at 1:37 PM
$APP Benchmark analyst Mike Hickey raises PT on Applovin to
$775.00 (from
$700.00)—maintains Buy rating.
Commenting "We reiterate our Buy rating on AppLovin and raise our price target to
$775 following a detailed review of Q3 results and incremental commentary from the UBS and Nasdaq conferences. Post earnings messaging strengthened our conviction in accelerating e commerce traction, the improving effectiveness of prospecting campaigns, the expanding role of Gen AI creative, and the scalability of AXON Ads self serve. Management's comments reinforced sustained margin durability, disciplined AI infrastructure spending, and a long runway for advertiser density, international expansion, and multi year direct payment tailwinds. We continue to view AppLovin as a Best Idea with a powerful blend of growth, profitability, and expanding TAM."
This updating arriving today, Dec 11th.
