Citi raises price target for Applovin Corp to $460, bullish on eCommerce expansion potential

From Investing.com: 2024-12-06 01:47:34

Citi raises price target for Applovin Corp to $460, citing eCommerce growth potential. The marketing software firm aims to boost ad conversion rates from 1% to 5%, approaching social media benchmarks. Analysts are bullish on AppLovin’s expansion into eCommerce advertising, expecting strong revenue growth despite industry risks. The company’s move beyond mobile gaming could attract new advertisers and drive significant growth in the future.



Read more at Investing.com: Citi hikes PT by 37% on ad growth potential, eCommerce expansion By Investing.com