"Based on third-party tracking, Dessouky estimates Axon's pixel footprint across ecommerce merchant sites rose about 25% month over month in November, lifting total installs to roughly 3,500 merchants by November 30 (up from ~800 on September 30). Shopify merchants drove close to 80% of new pixel installations. He also cites Triplewhale data showing 413 active shops advertising through November month-end, signaling strong onboarding since early October."
"Bank of America Securities analyst Omar Dessouky reiterates a Buy rating on AppLovin with a $860 price forecast (approximately 32% upside from $653), arguing that the shares still offer a strong blend of growth momentum and valuation support. He sees Axon's ecommerce push shifting from early experimentation to visible adoption, setting up a quarter where results can outrun recently softened expectations."
AppLovin’s Axon ad tech showed rapid merchant adoption, with installs rising from about 800 on September 30 to roughly 3,500 by November 30, a ~25% month-over-month increase in November. Shopify merchants accounted for nearly 80% of new pixel installations. Third-party data showed 413 active shops advertising through November month-end, indicating strong onboarding since early October. Bank of America analyst Omar Dessouky reaffirmed a Buy rating with an $860 price target, citing growth momentum and valuation. Dessouky maintained a $340 million ecommerce net revenue forecast and noted guidance may not yet reflect November–December advertiser spend, leaving potential for fourth-quarter upside.
Read at Benzinga
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