AppLovin price target raised to $325 from $200 at JPMorgan

JPMorgan analyst Cory Carpenter raised the firm’s price target on AppLovin (APP) to $325 from $200 and keeps a Neutral rating on the shares. The firm top picks in small cap internet and video games heading into 2025 are Take Two (TTWO) and Xometry (XMTR). AppLovin needs to significantly scale e-commerce revenue in 2025 for share momentum to continue, with bulls looking for e-commerce contribution that approaches 10% of software revenue, the analyst tells investors in a research note.