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Why AppLovin Stock Crept Almost 2% Higher Today
The Motley Foolยท 2025-08-21 21:25
Core Viewpoint - AppLovin's shares experienced a nearly 2% increase following a price target raise by Wells Fargo, despite the S&P 500 index declining by 0.4% [1][2] Group 1: Analyst Insights - Wells Fargo analyst Alec Brondolo raised AppLovin's price target from $480 to $491 per share while maintaining an overweight (buy) recommendation [2] - The increase in price target was based on adjustments to revenue estimates for 2026 and 2027, with a 6% increase for 2026 and a 3% increase for 2027 [4] Group 2: Market Trends - The analyst noted a rise in web traffic to AppLovin customer sites, indicating higher demand for its services [5] - Despite a decline in overall web advertising customer growth, the industry is attracting larger clients with presumably higher budgets [5] Group 3: Company Performance - AppLovin reported a 77% year-over-year revenue surge in the second quarter, reaching nearly $1.3 billion, with earnings per share (EPS) from continuing operations nearly tripling to $2.39 [6]