Needham Upgrades AppLovin Corp (APP) to Buy, PT $700

Needham analyst Bernie McTernan upgraded AppLovin Corp (NASDAQ: APP) from Hold to Buy with a price target of $700.00.

The analyst comments "We upgrade APP to Buy and establish a $700 PT following additional work on ecommerce giving us more confidence in the trajectory of ecommerce revenue growth in '26E coming at the same time the stock has pulled back off the highs a month ago. We are increasing our ecommerce estimates for '26E to $1.45B vs $1.05B prior, which includes sequential growth in 1Q as we now assume the growth in advertisers from the self-service launch and ramp up in spend more than offsets typical 1Q seasonality. Despite the increase to our ecommerce estimates, we think there is potential upside to our estimates in our bull case which assumes APP revenue can experience a similar trajectory as TikTok."

For an analyst ratings summary and ratings history on AppLovin Corp click here. For more ratings news on AppLovin Corp click here.

Shares of AppLovin Corp closed at $524.41 yesterday.

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