Here’s Why AppLovin (APP) Is One of the Best Long-Term Stocks to Buy Now for High Returns

AppLovin Corporation (NASDAQ:APP) is one of the Best Long-Term Stocks to Buy Now for High Returns. On May 12, Needham analyst Bernie McTernan maintained a “Buy” rating on the company’s stock, setting the price objective of $700.00. The analyst’s rating comes off the back of factors associated with AppLovin Corporation (NASDAQ:APP)’s product roadmap and growth opportunities.

Here's Why AppLovin (APP) Is One of the Best Long-Term Stocks to Buy Now for High Returns

The analyst noted the upcoming general availability launch for the Consumer offering. This includes new generative AI video-creation capabilities that can aid advertisers in improving return on ad spend and deepen the engagement on the platform.

Furthermore, the analyst hinted towards the expansion of AppLovin Corporation (NASDAQ:APP)’s addressable market as a key driver.  McTernan noted the ability for advertisers to purchase on a cost-per-lead basis as well as the effort to integrate Axon tightly with advertisers’ own AI systems.

Overall, AppLovin Corporation (NASDAQ:APP)’s robust supply positioning, along with incremental upside due to the hybrid monetization in in-app purchase games and long-term opportunity in connected TV, supports the rating.

AppLovin Corporation (NASDAQ:APP) is engaged in providing end-to-end AI-powered advertising solutions.

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