AppLovin (APP) Price Target Raised by Piper Sandler to $665

AppLovin Corporation (NASDAQ:APP) is one of the 10 Best Aggressive Growth Stocks to Buy According to Wall Street Analysts. On May 7, Piper Sandler lifted its price target on AppLovin Corporation (NASDAQ:APP) from $650 to $665 and kept an Overweight rating on the stock.

The research firm pointed to the company’s biggest percentage revenue beat in around four quarters. Piper Sandler said AppLovin Corporation (NASDAQ:APP) continues to show strong fundamentals despite investor worries about competition.

AppLovin (APP) Price Target Raised by Piper Sandler to $665

Piper Sandler analyst James Callahan pointed out that checks point to continued strength in mediation and support the company’s MAX and ROAS bidding advantage. The analyst also noted that the company’s guidance appears cautious and that there are no clear signs of pressure from macroeconomic conditions.

According to Piper Sandler, AppLovin Corporation’s (NASDAQ:APP) financial position is solid and its valuation looks reasonable at about 22 times its estimated 2027 GAAP earnings per share.

AppLovin Corporation (NASDAQ:APP) is an American technology company that offers end-to-end software and AI solutions for businesses of all sizes to reach, monetize, and grow their audiences.

While we acknowledge the risk and potential of APP as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and doing so within a shorter time frame. If you are looking for an AI stock that is more promising than APP and that has 10,000% upside potential, check out our report about this cheapest AI stock.

READ NEXT: 10 Mid-Cap Stocks That Are On Fire Right Now and 10 Best US Stocks Under $5 to Buy.

Disclosure: None.  Follow Insider Monkey on Google News.