Citi analyst Jason Bazinet has maintained their bullish stance on APP stock, giving a Buy rating on February 5.
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Forget margin or options. Here's how the pros trade APPJason Bazinet has given his Buy rating due to a combination of factors pointing to robust traction for AppLovin’s Axon engine among eCommerce merchants. He highlights that the number of Axon customers continues to climb, with Store Leads data indicating a steady week‑over‑week increase in clients, signaling healthy demand momentum for the company’s ad‑tech solutions.
In addition, Bazinet notes that Axon is deepening its presence within the Shopify ecosystem, with a rising share of Shopify merchants adopting the product even though overall penetration remains low, leaving ample runway for growth. He also points to the improving store rankings among Axon users and a gradually more international customer mix, which together suggest both improving quality of clients and expanding geographic diversification, supporting his constructive view on APP shares.
In another report released on February 5, Wedbush also maintained a Buy rating on the stock with a $465.00 price target.