AppLovin Is Suddenly Surging. Is It Sustainable?
AppLovin (NASDAQ: APP) has been one of the biggest winners of the last few years as the adtech stock has put up monster growth and huge profit margins.
The earlier launch of its artificial intelligence (AI)-based ad platform, Axon, transformed the company from a mobile game developer to one that facilitates and manages ads on mobile games, and increasingly, other categories like e-commerce. The growth of the ad business was so strong that earlier this year, the company sold its mobile app business, becoming a pure-play adtech company.
Over the last three years, the stock has jumped more than 3,000%, and, since Aug. 20, the stock has jumped over 50% even though there's been no major announcement since then. The company hasn't reported earnings or announced an acquisition.
Source Fool.com
Axon Enterprise INC Stock
Our community is currently high on Axon Enterprise INC with 3 Buy predictions and 0 Sell predictions.
As a result the target price of 700 € shows a positive potential of 42.28% compared to the current price of 492.0 € for Axon Enterprise INC.
