15 Important AI News and Ratings on Investors’ Radar

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6. AppLovin Corporation (NASDAQ:APP)

Number of Hedge Fund Holders: 51

AppLovin Corporation (NASDAQ:APP) provides a leading marketing platform powered by AI technology. On January 10, Benchmark analyst Mark Zgutowicz initiated coverage of AppLovin with a “Buy” rating and a $375 price target. The analyst noted that Applovin offers an AI-powered advertisement platform for optimizing user acquisition, engagement, and monetization, alongside handling a diverse portfolio of mobile apps.

As such, the firm views continued advancements in its AXON AI technology as a core catalyst that can help the company sustain long-term revenue growth. The analyst also told investors that the company’s expansion into new verticals such as e-commerce and connected TV, as well as “substantial growth” within its core advertising business in mobile gaming, offer potential revenue growth and opportunities for profitability expansion.

“Key catalysts include continued advancements in its AXON AI technology, which not only enable the company to expand into new verticals such as e-commerce and connected TV, but also drive substantial growth within its core advertising business in mobile gaming”.

-Analyst Mike Hickey wrote in a note to clients.

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