BofA Securities analyst Omar Dessouky reiterated a Buy rating and a $705 price forecast for AppLovin Corp (NYSE:APP) in a note released on Monday. The firm identifies e-commerce as the primary “swing factor” for the company.
AppLovin is scheduled to report first-quarter earnings on May 6.
• AppLovin stock is trading in a tight range. What’s ahead for APP stock?
Gaming Drives Immediate Sequential Growth
Management continues to highlight mobile gaming as the main engine for first-quarter sequential growth. BofA expects gaming strength to carry the majority of the quarter’s expansion.
Investor first-quarter e-commerce expectations edged lower, with a ramp expected in referral cohort spending; gaming is likely to drive most quarter-over-quarter growth, the note said.
E-commerce Scaling In The Spotlight
Analysts are looking …
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