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Wall Street Scrambles To Boost AppLovin’s Price Target After Blowout Earnings

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.

Let’s take a closer look.

This post originally appeared at 24/7 Wall St.