Jul. 20 at 2:02 PM
$APP got a PT boost from Wells Fargo to
$575 with an Overweight rating, but the analyst tone was surprisingly cautious.
Wells Fargo highlighted:
Rising cost per install
Possible ROAS pressure
$APP market share staying around 45%
Web ad wallet share estimated at 5-10%
The interesting part? Recent industry data tells a different story.
Jefferies’ eCommerce survey showed APP gaining the most share among ad platforms in 2026, reaching 11% total market share. Meanwhile,
$META and
$GOOGL reportedly lost wallet share.
Since the last survey:
$APP users grew +7%
Average brand spending increased 15%
73% of brands using APP generated new customer revenue
Two very different narratives are forming. The market will be watching Q2 results closely to see which side is right.