AppLovin’s Axon ad tech showed rapid merchant adoption, with installs rising from about 800 on September 30 to roughly 3,500 by November 30, a ~25% month-over-month increase in November. Shopify merchants accounted for nearly 80% of new pixel installations. Third-party data showed 413 active shops advertising through November month-end, indicating strong onboarding since early October. Bank of America analyst Omar Dessouky reaffirmed a Buy rating with an $860 price target, citing growth momentum and valuation. Dessouky maintained a $340 million ecommerce net revenue forecast and noted guidance may not yet reflect November–December advertiser spend, leaving potential for fourth-quarter upside.
"Based on third-party tracking, Dessouky estimates Axon's pixel footprint across ecommerce merchant sites rose about 25% month over month in November, lifting total installs to roughly 3,500 merchants by November 30 (up from ~800 on September 30). Shopify merchants drove close to 80% of new pixel installations. He also cites Triplewhale data showing 413 active shops advertising through November month-end, signaling strong onboarding since early October."
"Bank of America Securities analyst Omar Dessouky reiterates a Buy rating on AppLovin with a $860 price forecast (approximately 32% upside from $653), arguing that the shares still offer a strong blend of growth momentum and valuation support. He sees Axon's ecommerce push shifting from early experimentation to visible adoption, setting up a quarter where results can outrun recently softened expectations."
Read at Benzinga
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