AppLovin price target raised to $435 from $250 at Stifel

Stifel raised the firm’s price target on AppLovin (APP) to $435 from $250 and keeps a Buy rating on the shares. The company’s Software Platform business is benefiting from AXON 2.0, which provides a competitive advantage by uniquely leveraging data from AppLovin’s market-leading mediation platform to improve the accuracy of its predictive algorithms utilized by AppDiscovery, the analyst tells investors in a research note. Stifel adds that it has greater confidence in AppLovin’s expansion into the e-commerce advertising market, while the company maintains cost discipline, which will collectively drive the company’s adjusted EBITDA margin expansion and enhance its free cash flow generation.