AppLovin defies expectations as stocks produce eye-popping results

seekingalpha11-07

andresr/E+ via Getty Images AppLovin (NASDAQ:APP) continues to enjoy a rip-roaring 2024 as its Software segment has now grown 60%-plus year over year for five consecutive quarters following its third ...

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On the ecommerce side, while there are more unanswered questions about the differentiation and scalability of APP's product, we continue to view the TAM expansion as potentially highly compelling.\" Other ad tech companies saw modest to no gains on Thursday, with The Trade Desk  up 2% and Magnite  down 0.5%.","collect":0,"end_time":0,"defaultTopTitle":"seekingalpha.com","property":[],"viewcount":null,"language":"en","relate_stocks":{"BK4127":"投资银行业与经纪业","LU0320765646.SGD":"FTIF - Franklin Income A MDIS SGD-H1","LU0106831901.USD":"贝莱德世界金融基金A2","MGNI":"Magnite, Inc.","IE00BZ1G4Q59.USD":"LEGG MASON CLEARBRIDGE US EQUITY SUSTAINABILITY LEADER \"A\"(USD) INC (A)","QLD":"纳指两倍做多ETF","BK4528":"SaaS概念","LU1363072403.SGD":"Fidelity Global Financial Services A-ACC-SGD","BK4023":"应用软件","LU0006306889.USD":"SCHRODER ISF US LARGE CAP \"A\" (USD) INC AV","BK4539":"次新股","BK4516":"特朗普概念","TQQQ":"纳指三倍做多ETF","LU0106261372.USD":"SCHRODER ISF US LARGE CAP \"A\" ACC","LU0225283273.USD":"SCHRODER ISF GLOBAL EQUITY ALPHA \"A\" (USD) ACC","LU1720051017.SGD":"Allianz Global Artificial Intelligence AT Acc H2-SGD","PSQ":"纳指反向ETF","BK4585":"ETF&股票定投概念","LU1548497426.USD":"安联环球人工智能AT Acc","BK4534":"瑞士信贷持仓","LU0971096721.USD":"富达环球金融服务 A","LU1074936037.SGD":"JPMorgan Funds - US Value A (acc) SGD","IE00BKVL7J92.USD":"Legg Mason ClearBridge - US Equity Sustainability Leaders A Acc USD","LU1668664300.SGD":"Blackrock World Financials A2 SGD-H","BK4009":"广告","LU0348723411.USD":"ALLIANZ GLOBAL HI-TECH GROWTH \"A\" (USD) INC",".IXIC":"NASDAQ Composite","LU1720051108.HKD":"ALLIANZ GLOBAL ARTIFICIAL INTELLIGENCE \"AT\" (HKD) ACC","BK4588":"碎股","LU2357305700.SGD":"Allianz Global Artificial Intelligence ET H2-SGD","TTD":"Trade Desk Inc.","QID":"纳指两倍做空ETF","APP":"AppLovin Corporation","LU0098860793.USD":"FRANKLIN INCOME \"A\" INC","LU1989772840.SGD":"CPR Invest - Climate Action A2 Acc SGD-H","LU1162221912.USD":"FRANKLIN INCOME \"A\" (USD) ACC","LU1989772923.USD":"CPR Invest - Climate Action A2 Acc USD-H","BK4581":"高盛持仓","BK4504":"桥水持仓","LU0267386448.USD":"FIDELITY FIRST ALL COUNTRY WORLD \"A\" (USD) INC","SQQQ":"纳指三倍做空ETF","LU0314104364.USD":"MANULIFE GF AMERICAN GROWTH \"AA\" (USD) INC","BK4548":"巴美列捷福持仓"},"translate_title":"AppLovin出乎预期，股票业绩令人瞠目结舌","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"APP":1,"TTD":0.9,"MGNI":0.9,".IXIC":0.7,"PSQ":0.6,"QID":0.6,"QLD":0.6,"SQQQ":0.6,"TQQQ":0.6,"MNQmain":0.6,"NQmain":0.6},"content_text":"andresr/E+ via Getty Images AppLovin (NASDAQ:APP) continues to enjoy a rip-roaring 2024 as its Software segment has now grown 60%-plus year over year for five consecutive quarters following its third quarter financial results. AppLovin shares spiked 45% during Thursday morning market action. Shares ascended an eye-popping 325% over the last year. AppLovin is also an Alpha Picks stock that has surged since entering the portfolio on Nov. 15, 2023, at $42.44. It has a Hold rating from Seeking Alpha's Quant system. Not content, the company is already pursing another large total addressable market as its e-commerce pilot platform continues to show improvement. \"Early data has exceeded our expectations, with the advertisers in the pilot seeing substantial returns, often surpassing those from other media channels, and in many cases, experiencing nearly a 100% incrementality from our traffic,\" said AppLovin CEO Adam Foroughi, during last night's earnings call. \"We're increasingly confident this vertical will scale significantly in 2025 and become a strong contributor for us over the next year and beyond.\" The company has streamlined resources and reallocated talent from other initiatives to its e-commerce go-to-market team. \"In the next few quarters, we'll launch a self-service platform, opening global opportunities for advertisers of all sizes,\" he added. \"In '24E, e-commerce is still too small to be material for results, but APP believes there will be meaningful impact in 2025 and strong growth for the long-term,\" said Needham analyst Bernie Mcternan, in a Thursday investor note. \"APP continues to execute well and has established itself as the clear leader in mobile gaming user acquisition and monetization, but meaningfully scaling beyond gaming remains early and APP’s ~22.5x EBITDA multiple is a notable premium to most ad tech peers,\" said J.P. Morgan analysts, led by Cory Carpenter, in an investor note. J.P. Morgan bumped up its price target on the stock to $200 from $160 but maintained its Neutral rating.  Meanwhile, Morgan Stanley nearly doubled its price target to $200 from $110, but maintained its Equal-weight rating. \"We continue to believe that for APP to sustain its growth targets, it would need to drive the majority of industry growth in the more than $100B global mobile gaming market,\" said Morgan Stanley analysts, led by Matthew Cost, in an investor note. \"We view sustainability there as challenging to underwrite as a base case… even in light of APP's very strong results in '24. On the ecommerce side, while there are more unanswered questions about the differentiation and scalability of APP's product, we continue to view the TAM expansion as potentially highly compelling.\" Other ad tech companies saw modest to no gains on Thursday, with The Trade Desk (NASDAQ:TTD) up 2% and Magnite (NASDAQ:MGNI) down 0.5%.","kind":null,"is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"2","news_tag":"","news_rank":0,"symbols":[],"gpt_button":0},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.29.1","shortVersion":"4.29.1","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2481180826"}