Scotiabank raised the firm’s price target on AppLovin (APP) to $575 from $450 and keeps an Outperform rating on the shares. The firm expects to see e-commerce becoming a larger “piece of the overall pie” in the long term, with more margin improvements as management optimizes its cost structure and higher levels of shareholder returns via share repurchases, the analyst tells investors.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on APP:
- Why AppLovin Stock (APP) is a Growth Rocket Without a Seatbelt
- AppLovin’s Strategic Expansion and Growth Catalysts Justify Buy Rating
- Interactive Brokers Stock Jumps on S&P 500 Inclusion, Walgreens Dropped
- Closing Bell Movers: Interactive Brokers up 4% on S&P500 inclusion
- Insider Sales Shake Roblox, Upstart, Fastly, AppLovin, and Royal Caribbean