Analysts Bullish On AppLovin Corporation (APP) Outlook Following Impressive Results
AppLovin Corporation (NASDAQ:APP) is among the best money-making stocks to buy right now. On February 12, Michael Pachter, an analyst at Wedbush, lifted the price target on AppLovin Corporation (NASDAQ:APP) to $640 from $465 and maintained an Outperform rating. In its analysis, the firm highlighted the company’s strong Q4 results and the impressive opportunity it has had.
What’s noteworthy is that AppLovin Corporation (NASDAQ:APP) is significantly benefiting from the current gaming momentum, the analyst highlighted. Although risks like competition and industry pressures exist, Wedbush believes that the company addressed investors’ worries through its results and conference call commentary.
On the same day, Benchmark reiterated its Buy rating and $775 price target on AppLovin Corporation (NASDAQ:APP), citing Q4 performance. The company reported a revenue of $1,658 million, which signals 66% YoY growth and 18% sequential growth. Impressively, it outperformed street forecasts by nearly 3%. Looking ahead, the firm projects a revenue of $1,760 million at the midpoint of the guidance range and adjusted EBITDA of about $1,480 million.
AppLovin Corporation (NASDAQ:APP) is a California-based company that provides software platforms for developers to enhance the marketing and monetization of their content. Founded in 2011, the company operates through two segments: Advertising and Apps.
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