We recently published a list of 10 AI Stocks Gaining Wall Street’s Attention. In this article, we are going to take a look at where AppLovin Corporation (NASDAQ:APP) stands against other AI stocks that are gaining Wall Street’s attention.
On May 30, Clark Lampen from BTIG maintained a Buy rating on AppLovin Corporation (NASDAQ:APP) with a price target of $480.00.AppLovin Corporation provides a leading marketing platform powered by AI technology.
The firm’s buy rating stems from AppLovin’s improved financial outlook and the strategic moves that it has been making. One of them is the upcoming sale of AppLovin’s first-party mobile games business to Tripledot Studios, anticipated to be finalized within the current quarter.
A close-up of a mobile device, showing an advertiser reaching out to a consumer via a software-based platform.
Through this move, AppLovin will be able to recognize revenue from previously internal campaigns, potentially adding around $100 million to its core advertising business revenue from the deconsolidation.
Lampen has also revised its cost estimates, taking into consideration major expenses such as app store commissions and user acquisition costs, across other operating areas. Even though projected revenue for 2025 decreased, the EBITDA estimate has been revised upward due to a correction in the previous model.
Overall, the firm’s valuation reflects strong confidence in AppLovin’s strategy and financial execution.
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This article is originally published at Insider Monkey.
