Benchmark Raises PT on AppLovin (APP) Stock

AppLovin Corporation (NASDAQ:APP) is one of the Top AI and Technology Stocks to Buy According to Hedge Funds. On December 11, Benchmark analyst Mike Hickey lifted the price target on the company’s stock to $775 from $700, while keeping a “Buy” rating. The firm believes that the company’s prospects have strengthened, thanks to the accelerating e-commerce traction and a clear roadmap to scale AXON Ads self-serve. Also, expansion of Gen AI creative capabilities and sustained margin durability are some of the additional factors.

In a separate release, on December 11, Jefferies analyst James Heaney also lifted the price objective on AppLovin Corporation (NASDAQ:APP)’s stock to $860 from $800, while keeping a “Buy” rating. The firm suggests being selective throughout Internet stocks. This is because elevated levels of investments might limit margin expansion, while the concerns around AI disintermediation can restrict the multiple appreciation.

In a different update, on December 3, Bank of America Securities analyst Omar Dessouky reiterated a “Buy” rating on AppLovin Corporation (NASDAQ:APP)’s stock, setting a price objective of $860.00. The analyst’s rating is backed by a combination of factors demonstrating healthy future performance for AppLovin Corporation (NASDAQ:APP). One critical reason revolves around the significant expansion of Axon’s pixel footprint among e-commerce advertisers.

AppLovin Corporation (NASDAQ:APP) is engaged in building a software-based platform for advertisers to enhance the marketing and monetization of their content.

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Disclosure: None. This article is originally published at Insider Monkey.