The firm upgraded AppLovin to buy from hold and hiked its price target to $50 per share from $20.
Jefferies' price target implies roughly 28% upside from Monday's $39.01 close. The company helps developers market their applications and provides analytic software. Analyst Andrew Uerkwitz said he's growing confident that AppLovin can continue gaining market share from competitors and thinks the company's software segment will continue to grow.
's +27%," Uerkwitz said. The analyst added that some headwinds in the broader mobile gaming sector remain worrisome, but AppLovin should be able to navigate a tougher environment successfully. "The key question facing AppLovin and the entire mobile games market is: have Apple and macro fundamentally broken mobile gaming?" Uerkwitz said. "We don't believe so, but do anticipate a tough 2023 as the industry reorients itself for long-term growth.
South Africa Latest News, South Africa Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Jefferies upgrades this golf stock with more than 50% upsideThis golf company can add to its dominant position in the industry as the population ages and rounds played grows, according to Jefferies.
Read more »
Houston car wash manager sentenced to 30 years for killing ex-employeeA Houston car wash manager was sentenced to 30 years in prison this week for fatally shooting a former employee in 2018, Harris County District Attorney Kim Ogg announced Saturday.
Read more »
The 1975's 30 Greatest Songs, RankedWith their debut album turning 10 this year, we've ranked The 1975's greatest songs, from 'Robbers' to 'People' to 'Sex.'
Read more »
Hard sail test hits the high seas, aiming to reduce cargo ship emissions by 30 percentA cargo ship equipped with rigid sails, each the height of a 10-story building, has departed on its inaugural journey.
Read more »
30 Beach Essentials That'll Make Your Summer At Least, Like, 20 Times BetterAND it's reef safe.
Read more »
Reviewers Are Obsessed With These 30 Products And We Refuse To Gatekeep ThemThe hype is well deserved for these must-have products. Don't believe me...check the reviews.
Read more »