BofA Securities analyst Omar Dessouky maintains $Applovin (APP.US)$ with a buy rating, and adjusts the target price from $210 to $375.
According to TipRanks data, the analyst has a success rate of 60.5% and a total average return of 31.1% over the past year.
Furthermore, according to the comprehensive report, the opinions of $Applovin (APP.US)$'s main analysts recently are as follows:
The enhanced valuation of AppLovin encompasses several favorable developments post their Q3 results announcement. These include a broadening base of investors, incorporation into the Nasdaq 100 index, the company's shift to an entirely unsecured debt framework, and an upgrade to investment grade by S&P.
Following discussions with experts who engaged in the company's e-commerce pilot, favorable preliminary impressions were shared, emphasizing comparable ROAS metrics with major competitors. Recent stock performance coupled with accelerating momentum in e-commerce is anticipated to yield multiple benefits for the company's stock and underlying business trajectory through 2025, positioning it as a prominent selection in its sector.
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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