Citi Reiterates Buy Rating on AppLovin Corp (APP)

Citi analyst Jason Bazinet reiterated a Buy rating and $600.00 price target on AppLovin Corp (NASDAQ: APP)

The analyst comments "AppLovin has always used its Ads platform for its own game studios. However, the firm never recognized this internal expense as revenue for the Ads business. When the game studios are sold (due 2H25), we suspect the new owners will continue to use AppLovin’s Ads platform. This could provide a small revenue and Adj EBITDA tailwind in 2H25 and beyond. In our scenario analysis we estimate it could result in ~$75 million of incremental revenue per year (just below our estimate of the 4Q24 eCommerce revenue)."

For an analyst ratings summary and ratings history on AppLovin Corp click here. For more ratings news on AppLovin Corp click here.

Shares of AppLovin Corp closed at $297.03 yesterday.

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