AppLovin price target raised to $210 from $120 at BofA
The Fly

AppLovin price target raised to $210 from $120 at BofA

BofA analyst Omar Dessouky raised the firm’s price target on AppLovin (APP) to $210 from $120 and keeps a Buy rating on the shares. The firm believes that the launch of Axon 2.0, AppLovin’s AI engine, in Q2 of 2023 ushered in a growth and profitability transformation, which the “markets and the Street have been slow to recognize,” the analyst told investors in a research note earlier. The firm, which re-envisions AppLovin as a growth stock, raised its calendar year 2025 and 2026 Software topline growth estimates by 600 and 300 basis points, respectively, based on increased confidence in the core business of mobile game ads and raised the valuation multiple the firm applies to its calendar year 2026 EBITDA estimate.

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