Piper Sandler Lifts AppLovin Corp (APP) Stock PT and 'Remain Buyers'

Piper Sandler analyst James Callahan raised the price target on AppLovin Corp (NASDAQ: APP) to $470.00 (from $455.00) while maintaining an Overweight rating.

The analyst commented: "Mixed Data, But Explainable...Remain Buyers; Proprietary PSC work points to some weakness in APP supply-side trends, but this has not come up in checks. App-ads.txt data shows mobile gaming declines from April, but mostly from changes at one studio (that also impacts peers). APP's share of new SDK adds ticked down through 2Q25, but mostly a function of AdMob gains which are majority non-gaming. Sellers.json total supply growth remains strong. We recently caught up with IR, and update estimates to fully remove Apps through 2Q25 as it will be reported as discontinued ops. See last Network Effects (LINK). We remain buyers, PT up to $470 from $455. Reiterate OW."

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