"Goldman Sachs analyst Eric Sheridan raised the firm's price target on AppLovin () to $630 from $445 and keeps a Neutral rating on the shares as part of a broader research note previewing Q3 results in Digital Advertising names."
"The firm remains confident that AppLovin can drive sustained 20% or more in ad revenue growth from its core mobile gaming segment over the next 3 years, driven by a combination of steady industry growth, positive secular tailwinds, and modest market share gains, the analyst tells investors in a research note."
Goldman Sachs raised its price target for AppLovin to $630 from $445 while maintaining a Neutral rating. The firm projects sustained ad revenue growth of 20% or more from AppLovin's core mobile gaming segment over the next three years. Projected growth is expected to be driven by steady industry expansion, positive secular tailwinds, and modest market share gains. The outlook aligns with broader expectations for Q3 performance among digital advertising companies. The higher target reflects stronger revenue assumptions and confidence in AppLovin's advertising franchise.
Read at TipRanks Financial
Unable to calculate read time
Collection
[
|
...
]