Benchmark analyst Mike Hickey raised the firm’s price target on AppLovin (APP) to $775 from $700 and keeps a Buy rating on the shares. After having reviewed AppLovin’s Q3 earnings and management’s subsequent discussions at the UBS Global Technology and AI Conference and the Nasdaq Investor Conference, the firm contends that the company’s prospects have strengthened, citing accelerating e-commerce traction, a clear roadmap to scale AXON Ads self-serve, expanding Gen AI creative capabilities, and sustained margin durability. AppLovin remains one of the firm’s “Best Ideas,” the analyst noted.
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