Raymond James initiated coverage on AppLovin with a Strong Buy rating and a $640 price objective, citing the company's expansion into e-commerce advertising as a significant long-term growth opportunity. The firm highlighted ongoing reinforcement learning and enhancements to the Axon model as drivers for the advertising business, viewing AppLovin as a critical mobile in-app advertising platform in a historically under-monetized market. Separately, Bank of America Securities analyst Omar Dessouky reiterated a Buy rating with a $705 price objective, pointing to steady expansion of the Axon eCommerce footprint and a healthy long-term growth outlook.
Applovin CorpRaymond James initiated with Strong Buy and $640 target, and BofA reiterated Buy with $705 target, both citing growth opportunities.
Axon Enterprise Inc.