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.
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