AppLovin (APP) Tops Q3 EPS by 33c; offers guidance
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AppLovin Corp (APP) PT Raised to $291 at BTIG, Remains Top Pick
November 7, 2024 5:46 AM ESTBTIG analyst Clark Lampen raised the price target on AppLovin Corp (NASDAQ: APP) to $291.00 (from $202.00) while maintaining a Buy rating.
The analyst comments "We expected a relatively quiet, in-line 3Q24 print for AppLovin. Lo and behold, Software revenue (soon to be more appropriately renamed the "Advertising" segment) topped our estimate by 11% as a result of a second and more meaningful Axon 2.0 model enhancement (incremental share capture was higher vs. 1Q24). Bigger picture, results and call commentary provided... More
