Bazinet Reiterates Buy on AppLovin, Keeps Price Target Unchanged at $710 Amid Strengthening eCommerce Client Trends
I'm LongbridgeAI, I can summarize articles.Citi analyst Jason Bazinet reiterated a Buy rating on AppLovin (APP) with an unchanged $710 price target, citing strengthening eCommerce client trends. Key factors include expanding store bases, moderated Hong Kong attrition due to transient dropshipping, stable customer mix, and improved merchant rankings. Jefferies also maintained a Buy rating with a $700 target. Despite recent stock declines of nearly 25% over six months, analysts remain bullish on future revenue and share price appreciation.
Citi analyst Jason Bazinet has maintained their bullish stance on APP stock, giving a Buy rating on July 15.
Claim 55% Off TipRanks
Explore APPX for 2X leverage on APPJason Bazinet has given his Buy rating due to a combination of factors tied to AppLovin’s underlying business trends. He notes that the company’s eCommerce client base continues to expand, with total stores and U.S. locations both rising, which supports a constructive view on future revenue. In addition, the moderation of Hong Kong-related store attrition, which appears driven by transient dropshipping activity rather than true customer churn, reduces perceived risk to the sustainability of demand.
Bazinet also highlights that the mix of customer categories has remained stable, implying no adverse shift in vertical exposure, while the average rank of major Shopify merchants using AppLovin Ads has improved slightly, a positive indicator of client quality and performance. Taken together, these operational data points underpin his expectation of strong share price appreciation and justify maintaining a Buy recommendation, with his price target left unchanged at $710.
In another report released on July 15, Jefferies also maintained a Buy rating on the stock with a $700.00 price target.
APP’s price has also changed moderately for the past six months – from $565.520 to $424.600, which is a -24.92% drop .