AppLovin initiated with a Buy at Loop Capital

Loop Capital initiated coverage of AppLovin (APP) with a Buy rating and $181 price target The company has become indispensable infrastructure for the mobile gaming industry and is proving itself as a big data and AI play for investors, the analyst tells investors in a research note. Loop adds that given the rapid stock price appreciation the firm would welcome opportunity to buy on a pullback, though it also believes that the re-valuation is warranted and will be sustainable, with meaningful growth runway for the business anticipated within its core area of focus.