Needham upgraded AppLovin (APP) to Buy from Hold with a $700 price target The firm’s e-commerce work has given it added confidence in the trajectory of AppLovin’s e-commerce revenue growth in 2026. In addition, the stock has pulled back off the highs from a month ago, the analyst tells investors in a research note. Needham upped AppLovin’s e-commerce sales estimates for 2026 to $1.45B from $1.05B prior, as it now assumes the growth in advertisers from the self-service launch and ramp-up in spend more than offsets typical Q1 seasonality. The firm sees potential upside the numbers in a bull case, which assumes AppLovin revenue can experience a similar trajectory as TikTok.
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