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AppLovin Stock Rises on Analyst Optimism Amid Mobile Adtech Growth
AppLovin Stock Rises on Analyst Optimism Amid Mobile Adtech Growth
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BTCCSquare news:
AppLovin's stock climbed nearly 3% Thursday, outpacing the S&P 500's 0.8% gain, after BofA analyst James Heaney raised his price target to $615 from $560. The bullish revision followed meetings with CEO Adam Foroughi and CFO Matt Stumpf, revealing three key catalysts: accelerating mobile adtech demand, expansion into non-game app monetization, and sustained 80%+ EBITDA margins despite heavy investments.
Heaney also lifted revenue forecasts by 2%, citing the company's positioning in what he describes as an underpenetrated market. The mobile advertising sector shows particular promise for tech-enabled platforms like AppLovin that can leverage AI for ad performance optimization.
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