Morgan Stanley raised the firm’s price target on AppLovin (APP) to $470 from $365 and keeps an Equal Weight rating on the shares after the company delivered a Q4 beat and announced that it is set to divest its first-party games business in Q2. The firm is monitoring non-gaming ad growth, which it sees as “the key to sustained earnings revisions going forward,” the analyst tells investors in a post-earnings note.
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Read More on APP:
- AppLovin price target raised to $475 from $325 at JPMorgan
- AppLovin’s Strategic Expansion: Promising Growth with Cautious Hold Recommendation
- AppLovin price target raised to $575 from $400 at Piper Sandler
- AppLovin’s Strong Q4 Performance and Promising Outlook Justify Buy Rating
- AppLovin’s Strategic Transition: Balancing Strong Performance with Future Uncertainties