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Shares application It rose more than 30% on Thursday after the company reported fourth-quarter yields, which led many analysts to raise their price targets.
The ad tech company said on a revenue call Stripping The company aims to enter other verticals for its AI-powered axon adware such as Fintech, Insurance and Automotive, and therefore its application business.
Wolfe analysts praised the app segment for selling, saying the company’s financial situation “becomes cleaner when the growth outlook gets better” while increasing its target target from $490 to 550 Dollar.
“We believe that its game development/release sales will make it easier for investors to demonstrate multiple app valuations,” Oppenheimer analysts wrote.
Appleovin reported last-quarter revenue of $1.37 billion and earnings per share of $1.73, bettering expectations from LSEG’s analysts, which forecast revenue of $1.24 for $1.26 billion.
Net income for the quarter exceeded doubled to $599.2 million, or $1.73 per share, from $172.3 million a year ago or 51 cents a share, the company said in a statement. Revenue rose 43% from $953.3 million a year ago Axons model.
Applovin is The most successful technology inventory Last year, in the United States, more than 700% of people even surpassed the well-known figures in the field of artificial intelligence. According to LSEG, it expects first-quarter revenue to be between $1.36 billion and $1.39 billion, surpassing the average analyst estimate of $1.32 billion.
More than $1 billion of that will come from its advertising space, the company said, as the company is “still in its early stages” to further strengthen its AI model.
– Other reports by Michael Bloom of CNBC.
