Goldman Sachs Analyst Raises Price Targets for AppLovin, Meta, and Alphabet
Goldman Sachs analyst Eric Sheridan has increased price targets for AppLovin (APP), Meta Platforms (META), and Alphabet (GOOGL) ahead of their Q3 earnings reports. The revisions reflect a more favorable digital advertising environment and improved growth visibility across the sector. Sheridan's analysis underscores confidence in these companies' long-term fundamentals.
AppLovin, a mobile app monetization platform, saw its target raised to $630 from $445, despite maintaining a Neutral rating. The analyst projects 20%+ annual ad revenue growth for AppLovin over the next three years, driven by mobile gaming demand and market share gains. Meta and Alphabet similarly benefit from sector-wide tailwinds as digital ad spending recovers.