Morgan Stanley raised the firm’s price target on AppLovin (APP) to $420 from $350 and keeps an Overweight rating on the shares. The company “delivered a strong beat” as the core gaming ads outperformed and non-gaming continued to build momentum, the analyst tells investors. The firm, which comes away from earnings “incrementally bullish on the opportunity ahead for further share gains,” as raised its FY25 and FY26 EBITDA estimates by 18% each.
Confident Investing Starts Here:
- Easily unpack a company's performance with TipRanks' new KPI Data for smart investment decisions
- Receive undervalued, market resilient stocks right to your inbox with TipRanks' Smart Value Newsletter
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on APP:
- AppLovin price target raised to $530 from $460 at Jefferies
- AppLovin price target raised to $405 from $386 at Wells Fargo
- AppLovin’s Growth Potential: Buy Rating Backed by Strong Revenue Increase and Market Expansion Opportunities
- AppLovin’s Strong Market Position and Growth Potential Drive Buy Rating and Increased Price Target
- AppLovin price target raised to $435 from $335 at Goldman Sachs
Looking for a trading platform? Check out TipRanks' Best Online Brokers , and find the ideal broker for your trades.
Report an Issue