Investors often turn to recommendations made by Wall Street analysts before making a Buy, Sell, or Hold decision about a stock. While media reports about rating changes by these brokerage-firm employed (or sell-side) analysts often affect a stock's price, do they really matter?
It is absolutely no secret that the technology sector has been crushed recently. As of the Mar. 12 close, the Technology Select Sector SPDR Fund NYSEARCA: XLK is down nearly 13% from its Feb. 19 close.
AppLovin Corp (NASDAQ:APP) has earned a repeat Buy rating from analysts at Bank of America who believe investors will “soon connect the dots” on the mobile technology company's long-term growth story. The bullish recommendation comes after a meeting between the analysts at AppLovin's CEO in New York City.
Tech stock AppLovin (APP 8.27%) hit a 52-week high of $525.15 on Feb. 13. It's staggering just how quickly things have unraveled for this once red-hot growth stock.
Recently, Zacks.com users have been paying close attention to AppLovin (APP). This makes it worthwhile to examine what the stock has in store.
I'm upgrading AppLovin stock to "Buy" today thanks to reasonable valuation and strong expansion prospects despite its heavy dip. Q4 results showed significant growth: $1.37B sales (+44% YoY), $848M adjusted EBITDA (+78% YoY), and $2.1B FCF. Strategic pivot to the advertising platform and potential gaming unit sale to Tripledot Studios could drive higher margins and growth.
“The Next NVIDIA” Could Change Your Life NVIDIA has returned 250-fold in the past 10 years as artificial intelligence took off.
Short-seller firm Fuzzy Panda Research sent a letter to the S&P 500 Index Committee this week, urging the group to keep the stock out of the benchmark index. Fuzzy Panda has accused AppLovin of using fraudulent tactics to bolster its online ad business.
The changes will take effect after the close on March 21.
It was an unusual up-and-down ride for shareholders of app monetization company AppLovin (APP -8.30%) last month. Midway through February, AppLovin stock was up by as much as 38%.
Artificial intelligence-powered ad-tech company AppLovin (APP -1.93%) had a dream year in 2024. Its stock exploded roughly 713%, which was exceptional performance even for a stock in the popular AI trade.
AppLovin Corporation is transitioning to a pure-play advertising platform, divesting its lower-margin Apps business for $900 million to focus on higher-growth opportunities. The company plans to expand beyond gaming, targeting the broader e-commerce market, which presents significant growth potential with over 10 million businesses advertising online. APP's advertising segment has shown impressive growth, with revenues increasing from $207 million in FY20 to $3,224 million in FY24, validating its strategic shift.