Loop Capital analyst Rob Sanderson maintains $Applovin (APP.US)$ with a buy rating, and adjusts the target price from $181 to $385.
According to TipRanks data, the analyst has a success rate of 62.0% and a total average return of 14.7% over the past year.
Furthermore, according to the comprehensive report, the opinions of $Applovin (APP.US)$'s main analysts recently are as follows:
Following AppLovin's third-quarter earnings surpassing expectations and its guidance exceeding consensus, there has been an adjustment in financial models based on a higher assumed EBITDA multiple. Despite this rapid revaluation, there is an expectation of potential consolidation in the stock's performance. It is noted that investor alignment with this revised valuation assessment may take some time, and any dip in the company's share price would be seen as an attractive buying opportunity.
AppLovin's robust performance in Q3, complemented by a Q4 guidance that surpassed expectations, has made a positive impression. The company's confident stance on its market position suggests there is further room for growth in its share value.
Note:
TipRanks, an independent third party, provides analysis data from financial analysts and calculates the Average Returns and Success Rates of the analysts' recommendations. The information presented is not an investment recommendation and is intended for informational purposes only.
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.
TipRanks provides a ranking of each analyst up to 5 stars, which is representative of all recommendations from the analyst. An analyst's past performance is evaluated on a scale of 1 to 5 stars, with more stars indicating better performance. The star level is determined by his/her total success rate and average return.
