AppLovin initiated with a Buy at Benchmark

Benchmark analyst Mark Zgutowicz initiated coverage of AppLovin (APP) with a Buy rating and $375 price target AppLovin provides an AI-powered advertisement platform for optimizing user acquisition, engagement, and monetization, alongside managing a diverse portfolio of mobile apps, notes the analyst, who sees continued advancements in its AXON AI technology as a key catalyst. Expanding into new verticals such as e-commerce and connected TV, as well as “substantial growth” within its core advertising business in mobile gaming, present significant revenue growth and profitability expansion opportunities, the analyst tells investors.