William Blair analyst Ralph Schackart has maintained their bullish stance on APP stock, giving a Buy rating on June 13.
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Ralph Schackart has given his Buy rating due to a combination of factors that highlight AppLovin’s strategic advancements and market potential. The company has successfully expanded its advertising reach beyond mobile gaming into the broader e-commerce sector, which represents a significantly larger market opportunity. This expansion is supported by AppLovin’s advanced AI technology, particularly the AXON engine, which optimizes app marketing and monetization efforts.
Furthermore, AppLovin’s stock performance has been impressive, with a substantial increase following the release of AXON 2.0, which contributed to a 750% rise in stock price in 2024. Despite facing challenges from short reports alleging data misuse and a fraudulent business model, the company has managed to recover its stock value through effective rebuttals and strong financial performance. These elements collectively underpin Schackart’s confidence in AppLovin’s continued growth and justify the Buy rating.
In another report released on June 13, Oppenheimer also reiterated a Buy rating on the stock with a $500.00 price target.
Based on the recent corporate insider activity of 108 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.