Piper Sandler raised the firm’s price target on AppLovin (APP) to $575 from $400 and keeps an Overweight rating on the shares. The firm notes shares are up 29% after hours following a very strong Q4 print and guide as execution continues across gaming and non-gaming verticals, which is no longer limited to just e-commerce. AppLovin also announced they are selling the lower-margin Apps segment, which should simplify the story. Execution continues and Piper sees a path to multiple years of revenue tailwinds from new verticals.
Discover the Best Stocks and Maximize Your Portfolio:
- See what stocks are receiving strong buy ratings from top-rated analysts.
- Filter, analyze, and streamline your search for investment opportunities with TipRanks’ Stock Screener.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on APP:
- AppLovin’s Strong Q4 Performance and Promising Outlook Justify Buy Rating
- AppLovin’s Strategic Transition: Balancing Strong Performance with Future Uncertainties
- AppLovin price target raised to $620 from $545 at Wedbush
- Is the Unstoppable AppLovin (APP) Stock the New AI Superstar?
- AppLovin Reports Strong Growth in 2024 Financial Results