Wedbush analyst Michael Pachter raised the firm’s price target on AppLovin (APP) to $640 from $465 and keeps an Outperform rating on the shares. The firm notes AppLovin delivered another solid beat and highlighted the massive growth opportunity it has had in years ahead. The company is benefiting handsomely this year from ongoing momentum in gaming. Despite significant competitive threats and potential industry headwinds, Wedbush thinks AppLovin assuaged investor concerns with its results and a direct response on its conference call.
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