Benchmark raised the firm’s price target on AppLovin (APP) to $525 from $375 and keeps a Buy rating on the shares. AppLovin outperformed expectations in Q4 and guided to revenue 4% above consensus and AEBITDA 10% above consensus in Q1 fueled by AI-driven ad optimization, non-gaming expansion, and self-serve advertising tools, the analyst tells investors in a post-earnings note. AppLovin is “well-positioned for continued upside” with high-margin ad growth and aggressive buybacks, the analyst added.
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