Jefferies analyst James Heaney CFA has maintained their bullish stance on APP stock, giving a Buy rating yesterday.
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James Heaney CFA has given his Buy rating due to a combination of factors, primarily highlighting the potential for AppLovin to outperform market expectations in the coming quarters. The insights from a recent survey on mobile gaming advertising suggest that AppLovin remains a leading network among major advertisers, and the encouraging shift in advertiser spending plans indicates a promising growth trajectory.
Furthermore, the analysis of e-commerce advertising data shows substantial ad expenditure through AppLovin, suggesting a significant revenue boost in the near term. These positive indicators, along with the upward revision of the price target to $460, reflect confidence in AppLovin’s ability to achieve robust financial performance, particularly with anticipated higher-than-average growth in ad revenue and total revenue for the upcoming periods.
In another report released yesterday, Wedbush also maintained a Buy rating on the stock with a $545.00 price target.
Based on the recent corporate insider activity of 117 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of APP in relation to earlier this year.