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.
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.