Jefferies Reaffirms Buy Rating on AppLovin (APP)

AppLovin Corporation (NASDAQ:APP) is one of the 15 Best American Tech Stocks to Buy Right Now. On September 23, Jefferies reaffirmed its Buy rating on AppLovin Corporation (NASDAQ:APP) with a price target of $760.

The research firm cited insights from a call with Alex Brown, the CEO of Tierra Agency. Jefferies pointed out that Tierra Agency expects its clients to spend between $3 million and $5 million monthly on AppLovin Corporation (NASDAQ:APP). This suggests strong advertiser adoption.

Jefferies noted that AppLovin Corporation’s (NASDAQ:APP) referral program is seeing significant demand. This program brings in leads from brands that spend about $200 million annually on paid media.

According to the firm’s analysis, the opportunity for lead generation advertisements could be about three times bigger than e-commerce for AppLovin Corporation (NASDAQ:APP). This suggests there is a lot of potential for growth in this segment.

Jefferies also pointed out that Tierra’s clients have not yet started advertising to international audiences through AppLovin Corporation (NASDAQ:APP). However, they plan to expand into international markets within the next 30 days. This could create additional revenue streams for the company.

AppLovin Corporation (NASDAQ:APP) is an American technology company that offers end-to-end software and AI solutions for businesses of all sizes to reach, monetize, and grow their audiences.

While we acknowledge the potential of APP as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you’re looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock.

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Disclosure: None. This article is originally published at Insider Monkey.