Wedbush recently maintained an “Outperform” rating on AppLovin (APP) stock, keeping its price target of $640. Led by Alicia Reese, Wedbush analysts recently had a call with the company’s management team to dig into its e-commerce push and tech road map.
What the analysts heard left them bullish on APP stock. Let’s take a closer look.
Wedbush Is Optimistic About AppLovin’s E-Commerce Push
Most people know AppLovin as a mobile gaming ad company. But that description is quickly becoming outdated as the company expands into an artificial intelligence (AI) marketing platform that goes well beyond gaming.
For one, AppLovin is rapidly scaling its e-commerce self-service platform. Paired with that is the upcoming rollout of new generative AI-powered advertising tools, including 30- to 60-second AI video ads and dynamic product catalogs.
Why Wedbush Analysts Love AppLovin Stock Right Now
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