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I'm AppLovin It: Initiate with Outperform, $70 Price Target

  • Oppenheimer & Co. Inc.
  • May 20, 2021
A Leader in Mobile Gaming and Mobile Advertising Market

Oppenheimer analysts believe AppLovin is a proven success story, run by a highly effective management team, and is uniquely positioned to take share within the large mobile gaming ($110B) and app marketing/monetization markets ($35B).

mobile phones

AppLovin is one of the largest operators in both mobile gaming and mobile advertising. AppLovin’s value proposition is its vertically integrated business model at massive scale: the model combines first-party games with an advertising platform. With the changes Apple is making to reduce tracking of user data across devices and apps, Oppenheimer analysts believe AppLovin is in a better relative position to its peers because it has first-party data from its own games, which it can leverage for its ad network.

AppLovin’s growing scale and broadening customer relationships continue to improve its core product performance, which will accelerate its market penetration and growth. Our analysts are initiating coverage on AppLovin with an Outperform rating and $70 price target.

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