AppLovin price target raised to $185 from $100 at Stifel

Stifel raised the firm’s price target on AppLovin (APP) to $185 from $100 and keeps a Buy rating on the shares ahead of the scheduled Q3 report on November 7. The firm, which assumes “another record quarter for Software Platform revenue,” made upward revisions to estimates that embed Software Platform revenue growth for FY25 that places its forecast near the mid-point of management’s stated target of growing segment revenue by 20% to 30% year-over-year per year, the analyst tells investors in a preview.