AppLovin price target raised to $250 from $185 at Stifel

Stifel analyst David Pang raised the firm’s price target on AppLovin (APP) to $250 from $185 and keeps a Buy rating on the shares. AppLovin reported Q3 results that beat the firm’s forecast, consensus, and guidance, driven by another record quarter for Software Platform revenue, the analyst tells investors. Q4 guidance came in well above both the firm’s and consensus pre-earnings forecasts, while management also expressed optimism for its e-commerce opportunity and expects contributions in 2025, the analyst added.