These Analysts Increase Their Forecasts On AppLovin After Strong Q2 Earnings

Core Insights - AppLovin Corp (APP) reported second-quarter earnings that exceeded analyst expectations for earnings per share but fell short on revenue [1] - The company's shares experienced a significant increase of 13.2% following the earnings announcement [1] Financial Performance - Second-quarter revenue was reported at $1.26 billion, which was below the analyst estimates of $1.31 billion [1] - Earnings per share for the second quarter were $2.39, surpassing analyst expectations of $2.04 [1] Analyst Ratings and Price Targets - Piper Sandler analyst James Callahan maintained an Overweight rating and raised the price target from $470 to $500 [6] - Wells Fargo analyst Alec Brondolo also maintained an Overweight rating, increasing the price target from $405 to $480 [6] - Morgan Stanley analyst Matthew Cost kept the stock at Overweight and raised the price target from $460 to $480 [6] - Scotiabank analyst Nat Schindler maintained a Sector Outperform rating and increased the price target from $430 to $450 [6]