Professional
Added to YB: 2024-09-06
Pitch date: 2024-08-27
APP [bullish]
AppLovin Corporation
+364.21%
current return
Author Info
Hayden Capital is an investment firm that follows a research-intensive, concentrated strategy. We travel the world, seeking to invest in growing businesses run by world-class founders. Sign up for the newsletter.
Company Info
AppLovin Corporation provides end-to-end artificial intelligence-powered advertising solutions for businesses in the United States and internationally.
Market Cap
$146.6B
Pitch Price
$88.90
Price Target
N/A
Dividend
N/A
EV/EBITDA
34.43
P/E
43.31
EV/Sales
26.97
Sector
Software
Category
growth
Hayden Capital Portfolio Holding: AppLovin Corporation
APP: Ad network for mobile apps, 3rd largest after Google/Meta. $4.4B rev, $2.5B EBITDA, $1.8B FCF (2024E). Axon AI algorithm key advantage. ATT, Unity missteps, AI improvements = tailwinds. Expanding to ecommerce. 20-30% y/y growth. Ads platform at ~15x EV/EBITDA, potential 40-50% growth with AI/ecomm success.
Read full article (9 min)