From Nasdaq: 2024-04-11 04:00:00

AppLovin Corporation (APP) has seen a massive 375% increase in the last year, outperforming tech giants like Nvidia and Meta. The company’s AI-enhanced features are driving ROI for clients, leading to strong sales growth. AppLovin’s revenue is projected to grow by 23% in 2024, with earnings expected to soar by 153% in the same year. The stock is currently trading 33% below its all-time highs, presenting a potential opportunity for investors.

AppLovin’s new AI engine, AXON 2.0, is delivering impressive results for clients in the mobile gaming industry. Revenue growth for the company reached 17% in 2023, with significant EPS performance exceeding expectations. The company is expected to continue its growth trajectory with a 23% increase in sales in 2024 and a 153% rise in adjusted earnings compared to the previous year.

Despite facing a slowdown in digital ad spending, AppLovin’s stock has surged 375% over the past year, surpassing competitors like Nvidia and Meta. The current valuation presents a buying opportunity, with the stock trading at a discount relative to its earnings and sector median. AppLovin’s focus on helping clients succeed in the competitive app market is driving its growth and market performance.



Read more at Nasdaq: Bull of the Day: AppLovin Corporation (APP)