APP - 1 Wall Street Analyst Thinks AppLovin Stock Is Going to $115. Is It a Buy?
2024-05-15 05:09:00 ET
There's no denying that recent advances in artificial intelligence (AI) have been a game changer for companies able to successfully harness the power of these next-generation algorithms. App discovery platform AppLovin (NASDAQ: APP) certainly falls into that category.
The company's AI-fueled platform, which targets digital advertising and helps app developers get their creations discovered, hit the ground running last year and never looked back. One analyst thinks there's much more to come.
Macquarie analyst Tim Nollen boosted his price target on AppLovin to a Street-high $115 while maintaining an outperform (buy) rating on the shares. For those keeping track at home, that represents potential gains for investors of 33%, compared to Monday's closing price. The analyst cited AppLovin's recent results as sparking his enthusiasm.
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1 Wall Street Analyst Thinks AppLovin Stock Is Going to $115. Is It a Buy?