AppLovin (NASDAQ: APP) is soaring after crushing expectations in its 4th quarter earnings release and Wall Street analysts are in a frenzy updating their price targets to adequately evaluate the stock’s potential for next year.
Analysts are hyped on AppLovin’s AI driven ad platform (Axon 2.0), its rapidly expanding e-commerce solutions, and strong performance across non-gaming verticals. Shares were up 35% to kick off the trading day on Thursday, with investors giddy over higher-than-expected Q1 guidance and AppLovin’s divestment of its lower-margin apps business.
This post originally appeared at 24/7 Wall St.