AppLovin Corporation Receives Analyst Upgrades Amidst E-Commerce Growth Predictions
AppLovin Corporation (NASDAQ: APP) has emerged as a prominent choice among the top 10 growth stocks on NASDAQ for the next decade.
On January 30, Evercore ISI analyst Robert Coolbrith reiterated a Buy rating and established a price target of $835 for AppLovin Corporation.
This projection indicates a potential upside of 53.96%, aligning with the median forecast of 63.6% as assessed by 32 analysts monitoring the stock. FuboTV (FUBO) Experiences Decline Following Termination of NBCUniversal Agreement
Furthermore, on January 26, investment firm Needham elevated AppLovin Corporation’s rating from Hold to Buy. Analyst Bernie McTernan set a price target of $700 for the shares, hinting at a 29% upside from its present valuation.
This upgrade was predicated upon the analyst’s recent findings exhibiting stronger-than-anticipated growth in the company’s e-commerce revenue.
In a detailed report to investors, McTernan elaborated on the rationale behind the upgrade, citing enhanced confidence in the company’s growth trajectory within the e-commerce sphere, particularly through 2026.
The firm now anticipates e-commerce revenue to reach $1.45 billion for that year, a substantial increase from the previous estimate of $1.05 billion.
McTernan articulated:
“We are amending our e-commerce projections for 2026 to $1.45 billion, up from our prior estimate of $1.05 billion. This includes a positive sequential growth forecast for the first quarter, as we now anticipate that the influx of advertisers from the self-service platform will more than counterbalance the usual seasonal downturn.
Despite these optimistic revisions, we believe there remains potential for even greater upside in our bullish scenarios, which posit that AppLovin’s revenue trajectory could parallel that of TikTok.”
AppLovin Corporation (NASDAQ: APP) specializes in a software-based platform designed to optimize monetization and marketing strategies for advertisers. The company operates across the Applications and Advertising segments, providing services such as AppDiscovery, MAX, Adjust, and Wurl. Founded in 2011, it is headquartered in Palo Alto, California.
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Source link: Finance.yahoo.com.
