Oppenheimer on AppLovin Corp (APP): 'remains the top pick in our coverage for the next 12 months'

Oppenheimer analyst Martin Yang reiterated an Outperform rating and $480.00 price target on AppLovin Corp (NASDAQ: APP).

The analyst comments "APP reports 4Q24 results on Wednesday, February 12th after market. Near term, we take a cautious stance ahead of the print. While we expect another quarter of consensus-beating results, the real bar APP will be measured against is higher. We believe the buy-side expectation for e-commerce contribution is $30–50M in 4Q24, making total Software Platform revenue 3–5% higher than consensus. We continue to hear overwhelmingly positive customer comments on e-commerce pilot, further driving up expectations. While near-term trading dynamic can be choppy for APP, it remains the top pick in our coverage for the next 12 months."

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 $384.40 yesterday.

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