Citigroup is bullish on AppLovin: It may face pressure from Unity competition, but long-term growth potential remains "off the charts."
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Citigroup research points out that AppLovin may face competitive pressure from Unity Software in the coming quarters, but its long-term growth prospects remain strong. Citigroup reiterated its "Buy" rating on AppLovin and raised the target price from $460 to $600. Analysis shows that AppLovin's revenue could grow 2 to 14 times from current levels, and if the conversion rate of purchased impressions improves, revenue could increase 14 times
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