Piper Sandler Downplays Meta Platforms Advertising Risk on AppLovin Corporation (APP)

AppLovin Corp (NASDAQ:APP) is one of the most promising growth stocks to buy now. On June 9, Piper Sandler reiterated an Overweight rating on AppLovin Corp (NASDAQ:APP) and a $665 price target. The research firm remains optimistic despite growing concerns about Meta Platforms, which has the scale and first-party data to bypass ad tech platforms.

The company has come under pressure amid growing concerns that Meta Platforms’ more aggressive bidding for off-platform mobile gaming inventory could compress margins and volume share. Piper Sandler insists the competitive pressure has always existed, but has never stopped AppLovin from growing at above-market rates.

Separately, Applovin delivered impressive first-quarter results, driven by mobile gaming advertising and e-commerce growth. Revenue in the quarter was up 59% and exceeded guidance by 5%. It represented the company’s largest revenue beat in four quarters. The company has already confirmed its Axon advertising platform will open to all advertisers, a shift that will end the closed-ended system.

AppLovin Corporation (NASDAQ:APP) is a leading AI-driven mobile technology platform that helps businesses and developers acquire users, monetize their applications, and analyze advertising performance. Its sophisticated machine-learning engine processes billions of in-app signals to optimize digital advertising in real-time.

While we acknowledge the risk and potential of APP as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and doing so within a shorter time frame. If you are looking for an AI stock that is more promising than APP and that has 10,000% upside potential, check out our report about this cheapest AI stock.

READ NEXT: Billionaire Lee Ainslie’s 10 Stocks with Huge Upside Potential and 10 Deep Value Stocks to Invest In Now.

Disclosure: None. Follow Insider Monkey on Google News.

1281292 - 11759070 - 1