AppLovin price target raised to $425, named a 2025 Top Pick at Jefferies

Jefferies raised the firm’s price target on AppLovin (APP) to $425 from $400 and keeps a Buy rating on the shares, which the firm identifies as a “Top Pick for 2025.” Channel checks and a deeper dive into the e-commerce opportunity lead the firm to raise its ad revenue estimates to be 9% and 11% ahead of Street forecasts in FY25 and FY26, respectively, the analyst tells investors. The stock is down 20% from its all-time high and trading at a discount to peers on a growth-adjusted basis, the analyst added.