Wall Street Sees 40% Upside in This Overlooked Tech Stock. Here's Why They're Right.
AppLovin's stock is down this year, but Wall Street analysts remain bullish.
Wall Street Sees 40% Upside in This Overlooked Tech Stock. Here's Why They're Right.
Overview
One stock that has been shuffled to the side this year and largely overlooked is AppLovin (NASDAQ: APP). The stock price is down more than 20% on the year. However, a few Wall Street analysts see significant upside potential in it.
Among the analysts bullish on AppLovin stock is Evercore's Robert Coolbrith, who has an "outperform" rating and a $750 price target. Coolbrith believes the stock's valuation is compelling and sees early momentum in its newer e-commerce vertical. Morgan Stanley analysts are also bullish, with a $720 target, saying late last month that higher conversion rates could drive meaningful revenue and profits.
Details
Citigroup, meanwhile, has a $710 price target on AppLovin and recently added the stock to its 90-day catalyst watch list, citing the growth potential in its increased marketing and in its platform becoming generally available later this month.
Source
Originally published at www.fool.com.
