Piper Sandler raised the firm’s price target on AppLovin (APP) to $500 from $470 and keeps an Overweight rating on the shares. The firm notes the shares are down after hours despite a solid beat and strong guide. Most importantly, AppLovin is set to release a referral-based self-serve E-Com tool in early October 2025 with a full GA launch in the first half of 2026. Strength continues in gaming despite a seasonally weaker Q2 period. Piper sees a path to multiple years of revenue tailwinds from new verticals.
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