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.
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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 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.
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