BofA Securities analyst Omar Dessouky maintains $Applovin (APP.US)$ with a buy rating, and maintains the target price at $210.
According to TipRanks data, the analyst has a success rate of 52.8% and a total average return of 13.8% over the past year.
Furthermore, according to the comprehensive report, the opinions of $Applovin (APP.US)$'s main analysts recently are as follows:
The anticipation of a strong Q3 report on November 7 is fueling positive sentiment, with expectations set for another record quarter for Software Platform revenue. The revised estimates now suggest Software Platform revenue growth for FY25 that aligns closely with management's objectives of expanding segment revenue by 20% to 30% annually.
The firm has increased its conviction in AppLovin's potential to sustain an annual growth rate exceeding 20% in its Software Platform business, primarily driven by mobile game customers. Moreover, an additional $200 million is anticipated to bolster Software Platform revenue by 2025, attributed to contributions from e-commerce customers. The firm's growing optimism towards the 2025 forecast is spurred by management's advancements in e-commerce, a sustained growth trajectory from mobile gaming, and operational leverage.
Note:
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Success rate is the number of the analyst's successful ratings, divided by his/her total number of ratings over the past year. A successful rating is one based on if TipRanks' virtual portfolio earned a positive return from the stock. Total average return is the average rate of return that the TipRanks' virtual portfolio has earned over the past year. These portfolios are established based on the analyst's preliminary rating and are adjusted according to the changes in the rating.
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