In a report released today, Scott Devitt from Stifel Nicolaus initiated coverage with a Hold rating on AppLovin (APP) and a price target of $64.00. The company’s shares closed last Friday at $57.26, close to its 52-week low of $54.72.
According to TipRanks.com, Devitt is a top 100 analyst with an average return of 33.9% and a 69.5% success rate. Devitt covers the Technology sector, focusing on stocks such as Jumia Technologies AG, Uber Technologies, and Alphabet Class A.
Currently, the analyst consensus on AppLovin is a Strong Buy with an average price target of $75.44.
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Based on the recent corporate insider activity of 11 insiders, corporate insider sentiment is neutral on the stock.
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AppLovin Corp is a mobile app technology company. It focuses on growing the mobile app ecosystem by enabling the success of mobile app developers. The company’s software solutions provide advanced tools for mobile app developers to grow their businesses by automating and optimizing the marketing and monetization of their apps.
