What BofA and Macquarie Think About AppLovin’s (APP) Ecommerce Push

AppLovin Corporation (NASDAQ:APP) is one of the 8 Best Large Cap Stocks to Invest In Right Now. On April 13, BofA Securities reiterated its Buy rating with a price target of $705 on AppLovin Corporation (NASDAQ:APP). The research firm sees AppLovin Corporation (NASDAQ:APP) as a “show me story” as investors wait for signs of inflection in ecommerce.

Recent data from Northbeam has not shown meaningful Axon wallet-share gains since January, which appears to be holding back investor confidence.

What BofA and Macquarie Think About AppLovin’s (APP) Ecommerce Push

BofA Securities pointed to the May results as the next important catalyst for the stock if the results can show that advertisers from the October cohort are increasing their spending on a per-advertiser basis. This could strengthen confidence in AppLovin Corporation’s (NASDAQ:APP) e-commerce strategy ahead of the general rollout of its self-serve platform.

Earlier, on April 9, Macquarie initiated coverage of AppLovin Corporation (NASDAQ:APP), assigning the stock an Outperform rating and setting the price target at $710. Macquarie analyst Aaron Lee said that the company’s move into e-commerce is “an attractive, multi-year growth opportunity.” The firm sees the total addressable market at $120 billion, with the potential to reach $180 billion by 2030.

Macquarie also pointed out that channel checks suggest AppLovin Corporation (NASDAQ:APP) has built a solid and competitive advertising solution ahead of its full e-commerce launch in the first half of 2026.

AppLovin Corporation (NASDAQ:APP) is an American technology company that offers end-to-end software and AI solutions for businesses of all sizes to reach, monetize, and grow their audiences.

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: 10 Best Performing AI Stocks to Buy and 10 Unrivaled Stocks of the Next 5 Years.

Disclosure: None.  Follow Insider Monkey on Google News.