""Despite APP's ad product being a year old, it already represents 3-5% of Avenue Z's total ad budget, which is ahead of TikTok (3%), Snapchat (1-2%) and Reddit/Pinterest (<1%)," Healy said in a client note after his talk with Snow. "Avenue Z's primary clients are (direct-to-consumer e-commerce) brands that spend the vast majority of their budgets on Meta (~70% of wallet) and Google (~20% of wallet).""
"Jefferies analyst James Heaney on Monday reiterated his buy rating on AppLovin stock and raised his price target to 760 from 615. On the stock market today, AppLovin stock hit a record high of 657 before pulling back. In recent trades, it was down about 1% to 643.66. Heaney said he is incrementally more positive about AppLovin's prospects after speaking with an ad agency expert."
Jefferies raised its price target on AppLovin to 760 from 615 and maintained a buy rating. AppLovin stock reached a record intraday high of 657 before pulling back to around 644. The company's advertising platform, only a year old, has captured 3–5% of Avenue Z's total ad budget, outpacing TikTok, Snapchat and Reddit/Pinterest. AppLovin provides software tools that automate and optimize mobile app marketing and monetization and is positioning itself as an emerging leader in the mobile advertising market. Agency feedback contributed to the improved analyst outlook, and the stock appears on four IBD lists.
Read at Investor's Business Daily
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