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AppLovin Stock Rises Nearly 2% on Analyst Price Target Hike
AppLovin Stock Rises Nearly 2% on Analyst Price Target Hike
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BTCCSquare news:
AppLovin shares gained nearly 2% Thursday after Jefferies analyst Alec Brondolo raised his price target to $491 from $480, maintaining an overweight rating. The adjustment reflects increased revenue projections for 2026 and 2027, driven by rising web traffic to client sites and a shift toward larger advertising customers.
The adtech company recently reported stellar Q2 results, with revenue surging 77% year-over-year to $1.3 billion. Brondolo boosted his 2026 revenue estimate by 6% and 2027 forecast by 3%, citing sustainable growth catalysts in the digital advertising sector.
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