Mobile technology company AppLovin Corporation (APP) has caught the attention of Needham analyst Bernie McTernan, who upgraded the stock from “Hold” to “Buy” with a price target of $700. The analyst cited the company’s additional work on its e-commerce operations to propel its e-commerce revenue growth this year. In addition, McTernan raised the 2026 e-commerce revenue estimate from $1.05 billion to $1.45 billion, assuming growth in advertisers from its self-service launch and increased expenditures.
Moreover, in the bull case, this e-commerce ramp is expected to propel AppLovin’s top line growth trajectory, similar to that of social media giant TikTok. Just for comparison, ByteDance, TikTok’s parent company, expects 20% increase in 2025 sales to a whopping $186 billion.
