<p><strong>AppLovin</strong>(APP 7.79%) 的股价在周一上涨，截至东部时间上午 11:10，最高上涨了 7.8%。投资者对 <strong>摩根士丹利</strong> 最新的目标价上调做出了反应，并对下周非游戏广告商的 Axon Ads Manager 首发充满期待。这一举动引人注目，因为该公司将 10 月 1 日的发布视为一个关键催化剂，可能会解锁游戏以外的广告预算，这是 AppLovin 平台长期以来的看涨论点。</p>
<p><img src="https://imageproxy.pbkrs.com/https://g.foolcdn.com/image//query-b3A9cmVzaXplJnVybD1odHRwczovL2cuZm9vbGNkbi5jb20vZWRpdG9yaWFsL2ltYWdlcy84MzU0OTUvYXBwbG92aW4tc3RvY2stYXBwLmpwZyZ3PTcwMA?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg" alt="" original-src="https://imageproxy.pbkrs.com/https://g.foolcdn.com/image//query-b3A9cmVzaXplJnVybD1odHRwczovL2cuZm9vbGNkbi5jb20vZWRpdG9yaWFsL2ltYWdlcy84MzU0OTUvYXBwbG92aW4tc3RvY2stYXBwLmpwZyZ3PTcwMA"/></p>
<p>图片来源：Getty Images。</p>
<h2>分析师催化剂与产品里程碑相关</h2>
<p>在今天早上的报告中，摩根士丹利将目标价上调至 750 美元，并维持超配评级，指出 Axon Ads Manager 的推出是扩展 AppLovin 非游戏业务的最重要证明。这一消息紧随 <strong>派珀·桑德勒</strong>（目标价 740 美元）和 <strong>瑞银</strong>（目标价 810 美元）最近的乐观分析师升级之后。这些分析师的呼声共同增强了对 AppLovin 能够拓宽需求超出其游戏核心的信心。</p>
<h2>估值与长远展望</h2>
<p>热情高涨——标准也很高。根据几个简单的指标，股价的估值相当高，反映出市场对 Axon 在非游戏领域快速扩展的预期。</p>
<p>例如，该公司的前瞻市盈率约为 50，市销率约为 42。如果自助服务的推出能够推动持续的支出并赢得知名的非游戏品牌，那么这一溢价是可以辩护的。</p>
<p>不过，任何在采用上的失误或更广泛的广告支出放缓都可能对一只为完美执行定价的股票施加压力。对于长期投资者来说，业务势头无疑是吸引人的。但该股近期的上涨无疑已经反映了许多（如果不是全部）上行空间。</p>

<p>AppLovin 的股票在摩根士丹利将其目标价上调至 750 美元后上涨了 7.8%，该行指出即将推出的 Axon Ads Manager 是扩展非游戏广告的关键催化剂。Piper Sandler 和瑞银的分析师也提供了乐观的目标，增强了对 AppLovin 增长潜力的信心。然而，尽管业务势头强劲，股票的高估值在采用放缓或广告支出减弱的情况下仍然存在风险</p>

<p><strong>AppLovin</strong>(APP 7.79%) shares were climbing on Monday -- up as much as 7.8% as of 11:10 a.m. ET. Investors reacted to a fresh price target increase from <strong>Morgan Stanley</strong> and growing anticipation for next week's Axon Ads Manager debut for nongaming advertisers. The move stands out because the firm framed the Oct. 1 launch as a key catalyst that could unlock ad budgets outside gaming, a long-running bull case for AppLovin's platform.</p>
<div class="lb-trans"><p><strong>AppLovin</strong>(APP 7.79%) 的股价在周一上涨，截至东部时间上午 11:10，最高上涨了 7.8%。投资者对 <strong>摩根士丹利</strong> 最新的目标价上调做出了反应，并对下周非游戏广告商的 Axon Ads Manager 首发充满期待。这一举动引人注目，因为该公司将 10 月 1 日的发布视为一个关键催化剂，可能会解锁游戏以外的广告预算，这是 AppLovin 平台长期以来的看涨论点。</p>
</div><p><img src="https://imageproxy.pbkrs.com/https://g.foolcdn.com/image//query-b3A9cmVzaXplJnVybD1odHRwczovL2cuZm9vbGNkbi5jb20vZWRpdG9yaWFsL2ltYWdlcy84MzU0OTUvYXBwbG92aW4tc3RvY2stYXBwLmpwZyZ3PTcwMA" alt="" original-src="https://g.foolcdn.com/image/?url=https%3A%2F%2Fg.foolcdn.com%2Feditorial%2Fimages%2F835495%2Fapplovin-stock-app.jpg&amp;op=resize&amp;w=700"/></p>
<p>Image source: Getty Images.</p>
<div class="lb-trans"><p>图片来源：Getty Images。</p>
</div><h2>Analyst catalyst tied to a product milestone</h2>
<div class="lb-trans"><h2>分析师催化剂与产品里程碑相关</h2>
</div><p>In this morning's note, Morgan Stanley raised its target to $750 and kept an overweight rating, pointing to the Axon Ads Manager rollout as the most important proof point yet for scaling AppLovin's nongaming business. That follows recent upbeat analyst upgrades from <strong>Piper Sandler</strong> ($740 target) and <strong>UBS</strong> ($810 target). Together, these analyst calls reinforced confidence that AppLovin can broaden demand beyond its gaming core.</p>
<div class="lb-trans"><p>在今天早上的报告中，摩根士丹利将目标价上调至 750 美元，并维持超配评级，指出 Axon Ads Manager 的推出是扩展 AppLovin 非游戏业务的最重要证明。这一消息紧随 <strong>派珀·桑德勒</strong>（目标价 740 美元）和 <strong>瑞银</strong>（目标价 810 美元）最近的乐观分析师升级之后。这些分析师的呼声共同增强了对 AppLovin 能够拓宽需求超出其游戏核心的信心。</p>
</div><h2>Valuation and the long view</h2>
<div class="lb-trans"><h2>估值与长远展望</h2>
</div><p>Enthusiasm is high -- and so is the bar. By several simple gauges, shares are trading at a lofty valuation, reflecting expectations that Axon will scale quickly in nongaming.</p>
<div class="lb-trans"><p>热情高涨——标准也很高。根据几个简单的指标，股价的估值相当高，反映出市场对 Axon 在非游戏领域快速扩展的预期。</p>
</div><p>For instance, the company has a staggering forward price-to-earnings ratio of about 50 and a price-to-sales ratio of approximately 42, respectively. If the self-serve launch drives sustained spend and wins recognizable nongaming logos, that premium can be defended.</p>
<div class="lb-trans"><p>例如，该公司的前瞻市盈率约为 50，市销率约为 42。如果自助服务的推出能够推动持续的支出并赢得知名的非游戏品牌，那么这一溢价是可以辩护的。</p>
</div><p>That said, any stumble in adoption or a broader ad-spend slowdown could pressure a stock priced for flawless execution. For long-term investors, the business momentum is certainly attractive. But the stock's recent rise has arguably priced in a lot of the upside (if not all of it).</p>
<div class="lb-trans"><p>不过，任何在采用上的失误或更广泛的广告支出放缓都可能对一只为完美执行定价的股票施加压力。对于长期投资者来说，业务势头无疑是吸引人的。但该股近期的上涨无疑已经反映了许多（如果不是全部）上行空间。</p>
</div>

为什么 AppLovin 的股票今天上涨了