Analyst Clark Lampen from BTIG maintained a Buy rating on AppLovin (APP – Research Report) and keeping the price target at $480.00.
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Clark Lampen has given his Buy rating due to a combination of factors that highlight AppLovin’s promising growth trajectory. The company’s management team, including key executives, has demonstrated a strong commitment to launching a self-serve dashboard aimed at non-gaming customers, which is expected to be a significant growth driver. This initiative is anticipated to enhance AppLovin’s market position by expanding its reach beyond gaming, with a targeted launch in 2025.
Additionally, AppLovin’s core gaming business continues to show robust performance, with management reiterating long-term growth targets. The company’s leadership in the gaming sector, combined with the potential of its non-gaming ventures, presents substantial opportunities for future growth. These elements, along with the current market valuation, support the positive outlook and Buy rating for AppLovin’s stock.
In another report released yesterday, Bank of America Securities also reiterated a Buy rating on the stock with a $580.00 price target.
Based on the recent corporate insider activity of 106 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of APP in relation to earlier this year.