AppLovin Corp (APP) PT Raised to $500 at Piper Sandler

Piper Sandler analyst James Callahan raised the price target on AppLovin Corp (NASDAQ: APP) to $500.00 (from $470.00) while maintaining an Overweight rating.

The analyst commented: "Shares are down AH despite a solid beat & strong guide. Most importantly, APP is set to release (1) a referral-based self-serve E-Com tool in early October '25 with (2) a full GA launch in 1H26. Strength continues in gaming despite a seasonally weaker 2Q period. We see a path to multiple years of revenue tailwinds from new verticals. We've written about our pixel work (LINK), bullish view on E-Com (LINK), and supply-side data (LINK). On higher estimates and keeping the multiple constant at ~30x '26E EBITDA, our PT moves to $500 from $470. We remain buyers. Reit OW."

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