Added to YB: 2025-09-15
Pitch date: 2025-09-12
APP [neutral]
AppLovin Corporation
+15.92%
current return
Author Info
Accrued Interest is an TMT Equity Research Specialist. They manage their family office and write about business and investing. Former tv/radio executive. During corporate years, achieved +3,400% TWR in PA from ’16-‘24. Sign up for the newsletter.
Company Info
AppLovin Corporation engages in building a software-based platform for advertisers to enhance the marketing and monetization of their content in the United States and internationally.
Market Cap
$220.7B
Pitch Price
$578.54
Price Target
N/A
Dividend
N/A
EV/EBITDA
56.55
P/E
79.29
EV/Sales
35.28
Sector
Software
Category
growth
Notes on AppLovin's Goldman Sachs Communacopia Talk ($APP)
APP (update): Bull thesis maintained despite $570 price vs $320 in Jan. $11B gross ad spend rivals Pinterest+Snap+Twitter combined revenue. 80-85% EBITDA margins, 50%+ FCF conversion from lean ops model. All excess cash to buybacks during growth phase. 3-5% budget share despite serving only 5% of surveyed customers suggests massive expansion potential. In-game ads could unlock $100B TAM. Performance marketing campaign starting to scale from low thousands to millions of customers.
Read full article (4 min)