On September 28, AppLovin Corporation rose 3.64% in regular trading, trading at $319.39 per share, with turnover of $133 million. The stock had been under pressure following warnings from Edgewater Research that the core advertising platform was approaching a \"functional ceiling,\" but the latest rebound appears tied to positive e-commerce business momentum.
On the news front, Citi analyst Jason Bazinet cited Store Leads data showing that as of September 18, AppLovin's global e-commerce client count reached 13,105, up 5.1% week-over-week — the fastest pace of growth in five months. Growth was driven by the addition of approximately 165 stores in the U.S. (+2.9%), 285 in Hong Kong (+17.3%), and 100 in mainland China (+72.5%). Citi maintained a Buy rating with a $600 price target. Meanwhile, Edgewater projected Q4 sequential revenue growth of only 8% to 9%, highlighting a widening bull-bear divide on the stock's outlook.
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