Wells Fargo analyst Alec Brondolo maintains $Applovin (APP.US)$ with a buy rating, and adjusts the target price from $250 to $360.
According to TipRanks data, the analyst has a success rate of 60.0% and a total average return of 4.8% over the past year.
Furthermore, according to the comprehensive report, the opinions of $Applovin (APP.US)$'s main analysts recently are as follows:
After AppLovin delivered robust Q3 results, showing acceleration when compared on a two-year basis, the expectations for its future performance have improved. The analyst now predicts an increase in free cash flow and an adjusted higher revenue projection, primarily driven by anticipated gains in advertisement revenues.
AppLovin has been observed to experience strong e-commerce adoption and positive advertiser sentiment. Recent discussions with several advertisers involved in their e-commerce pilot program have indicated returns on ad spend that are competitive with leading digital channels, which is contributing to rapid budget increases.
Note:
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Success rate is the number of the analyst's successful ratings, divided by his/her total number of ratings over the past year. A successful rating is one based on if TipRanks' virtual portfolio earned a positive return from the stock. Total average return is the average rate of return that the TipRanks' virtual portfolio has earned over the past year. These portfolios are established based on the analyst's preliminary rating and are adjusted according to the changes in the rating.
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