Citi Maintains Buy on AppLovin (APP), Highlighting Expanding Ad and E-Commerce Ecosystem

AppLovin Corp. (NASDAQ:APP) is at the top of our list of the best stocks for day trading. The stock currently trades near the top of its 52-week range of $87.10-$574.00, having delivered 69% returns this year and over 530% returns in the last year.

Citi Maintains Buy on AppLovin (APP), Highlighting Expanding Ad and E-Commerce Ecosystem

Photo by Marvin Meyer on Unsplash

On September 5, Citi’s Jason Bazinet reiterated a Buy rating on AppLovin Corp. (NASDAQ:APP) with a $600 price target. He pointed out that the company’s actual market presence is stronger than reported figures suggest, as traditional metrics don’t fully account for third-party spending or the global reach of its ad platform.

Bazinet also noted AppLovin’s ability to generate quick e-commerce conversions, with many purchases occurring shortly after ad exposure, a feature that sets it apart in digital advertising. The company is extending its reach beyond gaming into broader e-commerce categories, opening new avenues for growth.

Management emphasized that mobile ad revenue can grow alongside in-app purchases, rather than replacing them, giving the business a bigger runway where multiple revenue streams can advance together.

AppLovin Corporation (NASDAQ:APP) is a technology company that provides software and tools for mobile app developers to grow and monetize their businesses.

While we acknowledge the potential of APP to grow, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an AI stock that is more promising than APP and that has 100x upside potential, check out our report about this cheapest AI stock.

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