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      AppLovin Seen With E-Commerce As Key Swing Factor, Gaming Drives Near-Term Growth, BofA Says

      BofA Securities analyst Omar Dessouky reiterated a Buy rating and a $705 price forecast for AppLovin Corp (NYSE:APP) in a note released on Monday. The firm identifies e-commerce as the primary “swing factor” for the company.

      AppLovin is scheduled to report first-quarter earnings on May 6.

      • AppLovin stock is trading in a tight range. What’s ahead for APP stock?

      Gaming Drives Immediate Sequential Growth

      Management continues to highlight mobile gaming as the main engine for first-quarter sequential growth. BofA expects gaming strength to carry the majority of the quarter’s expansion.

      Investor first-quarter e-commerce expectations edged lower, with a ramp expected in referral cohort spending; gaming is likely to drive most quarter-over-quarter growth, the note said.

      E-commerce Scaling In The Spotlight

      Analysts are looking ...

      Full story available on Benzinga.com


      Source: Benzinga
      .

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