AppLovin Corporation (NASDAQ:APP) is one of the high-growth large-cap stocks to invest in now. On June 10, Benchmark reiterated a Buy rating on AppLovin Corporation (NASDAQ:APP)and a $775 price target. The research firm remains bullish on the stock, impressed by the company’s prospects in its consumer advertising business.
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A recent investor presentation affirmed management’s confidence in the consumer advertising business, which appears to be in the early stages of growth. Management is projecting a general availability milestone by the end of the second quarter that will expand functionality and advertiser accessibility. In addition, management has embarked on a discipline rollout strategy as it also pursues share expansion opportunities.
The company is also well-positioned across multiple long-term growth vectors on both the demand and supply sides of the business. Consequently, management remains optimistic about the company’s long-term growth prospects. In May, Piper Sandler reiterated an Overweight rating on the stock and raised the price target to $665 from $650. The price target hike is in response to the largest revenue beat in four quarters, affirming strong financial performance.
AppLovin Corporation is a global technology company that provides AI-powered software and advertising solutions to help businesses connect with their target audiences, monetize apps, and grow their reach.
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