Yes, your campaign is likely still in the learning (or ramp-up) phase, especially since you're using Target CPA bidding with limited data. That kind of volatility—like a $5 CPA one day and $50 the next—is common early on.
Here's what's happening:
Target CPA bidding needs volume
Google’s algorithm needs consistent conversion data to optimize properly. If your campaign has low daily conversions (usually <15/day), it struggles to learn and may swing performance wildly.
Learning phase can last 7–14 days
This depends on budget, audience size, and how many conversions you’re driving. If you’re not hitting enough conversion volume, the algorithm just keeps testing.
Daily CPA swings are normal at first
Especially with low budgets or narrow targeting. Google’s machine learning is trying to find “cheap” conversions and may test different audiences or placements each day.
What you can do:
Be patient for at least 7–10 days, ideally letting the campaign hit 50+ conversions before evaluating CPA trends.
If conversions are rare, consider switching to Maximize Conversions first, then move to Target CPA once Google has data.
Review your audience size—too narrow = inconsistent delivery.
Increase budget slightly if possible to give the algorithm more room to learn faster.
Tips: Yes, you're still in the learning phase. Give it a few more days and monitor for overall trend, not day-to-day swings. If things stay unstable beyond 2 weeks with enough conversions, it may be time to adjust.