Analyst Mike Hickey from Benchmark Co. maintained a Buy rating on AppLovin (APP – Research Report) and keeping the price target at $525.00.
Mike Hickey has given his Buy rating due to a combination of factors that highlight AppLovin’s strong market position and growth potential. The CEO of AppLovin, Adam Foroughi, has defended the company’s advertising practices and emphasized the rapid expansion of its e-commerce business, which has achieved a billion-dollar run rate in a short period. This growth is supported by a robust AI-driven ad platform that is poised to disrupt the larger digital advertising market beyond mobile gaming.
Furthermore, Foroughi addressed concerns about AppLovin’s pixel functionality, comparing it to industry standards set by major companies like Meta and Google. He clarified that AppLovin’s data collection methods are consistent with industry practices, countering claims of invasiveness. The company’s technological execution and competitive advantage are underscored by its leadership in mobile gaming marketing and e-commerce, demonstrating deep technological strength. Foroughi’s final remarks encouraged investors to focus on the company’s fundamentals and long-term value creation, reinforcing confidence in AppLovin’s future trajectory.
In another report released today, Loop Capital Markets also maintained a Buy rating on the stock with a $650.00 price target.