AppLovin's High Valuation and Expansion Beyond Gaming Prompt Analyst Caution

Quick Summary:

JP Morgan analyst Cory Carpenter maintained AppLovin with a Neutral and raised the price target from $160 to $200.

Benchmark analyst Mark Zgutowicz maintained AppLovin with a Sell and a $66 price target.JP Morgan: Cory A.

Carpenter highlights the Software Platform’s impressive 17% sequential growth, driven by technology upgrades to the Axon algorithm, which significantly outpaced the typical 4%- 5% growth target.

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Author / Journalist: Anusuya Lahiri

Category: Technology

Markets: United States

Topics: Movers Analyst Ratings Price Target Analyst Color Tech TTD Expert Ideas Benzinga Reiteration News US0238501003 Top Stories Trading Ideas Stories That Matter APP Briefs

Source Website Secure: Yes (HTTPS)

News Sentiment: Negative

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-11-07 @ 19:22:23 (11 hours ago)

News Timezone: GMT +8:00

News Source URL: benzinga.com

Language: English

Article Length: 638 words

Reading Time: 4 minutes read

Sentences: 33 lines

Sentence Length: 20 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © Benzinga

News ID: 23464782

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