Deutsche Bank analyst Benjamin Black initiated coverage of AppLovin (APP) with a Buy rating and $705 price target The firm says the company has built “best-in-class” advertising technology and is expanding into e-commerce advertising, which is multiple times the size of mobile game in-app advertising. AppLovin is positioned to beat 2027 consensus estimates for sales even with “modest” 5%-10% penetration of the incremental ad spend by e-commerce companies, the analyst tells investors in a research note. Deutsche believes AppLovin’s Axon model is vertical agnostic and performs well across the open web.
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