Clark Lampen, an analyst from BTIG, reiterated the Buy rating on AppLovin (APP – Research Report). The associated price target remains the same with $600.00.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Clark Lampen has given his Buy rating due to a combination of factors, primarily addressing concerns raised by recent short reports on AppLovin. He argues that the highlighted issues, such as alleged fraudulent download activity, do not significantly impact the company’s performance. Lampen emphasizes that the majority of download activities are pre-loads, which do not drive performance, as revenue is generated through user engagement and spending within apps.
Furthermore, he dismisses concerns about AppLovin’s mediation practices, suggesting that accusations of front-running are unfounded and that such practices are standard in the industry. He also notes that issues like fingerprinting and self-attribution are either well-covered or industry norms. Overall, Lampen believes that any questionable activities are not unique to AppLovin and are common across the digital advertising landscape, supporting his Buy rating with a price target of $600.
APP’s price has also changed dramatically for the past six months – from $89.890 to $331.000, which is a 268.23% increase.