"Alec Brondolo of Wells Fargo upped his fair value assessment on AppLovin stock to $560 per share from $543, maintaining his bullish overweight recommendation. This adjustment followed checks on the online ad ecosystem, revealing improving sentiment and strong spending in the in-app advertising segment."
"Analysts tracking AppLovin are convinced the company will continue to grow at notable rates, with a consensus for first-quarter revenue growth of 19% year-over-year, reaching almost $1.8 billion, and per-share earnings projected to more than double by 2025."
"AppLovin feels like the right kind of company at the right time in advertising history, as most people spend significant time on devices, making them unavoidable choices for advertising platforms."
Wells Fargo raised its price target on AppLovin stock to $560 per share, maintaining a buy recommendation. This adjustment was based on improving sentiment in the online ad ecosystem and a projected 3% increase in first-quarter revenue estimates. Analysts expect AppLovin to achieve 19% year-over-year revenue growth, reaching nearly $1.8 billion, with per-share earnings projected to more than double by 2025. The company is well-positioned in the advertising market, benefiting from increased device usage.
Read at The Motley Fool
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