AppLovin price target raised to $108 from $105 at Jefferies

Jefferies analyst James Heaney raised the firm’s price target on AppLovin to $108 from $105 and keeps a Buy rating on the shares. Despite the 122% year-to-date stock return, AppLovin “remains one of the most debated and controversial names in our coverage,” says the analyst, who believes the Street’s FY25 Software Platform EBITDA estimates are too low. The firm, which raised its own FY25 Software EBITDA estimate by 4% to put its view 4% ahead of the Street consensus, also contends that the stock’s valuation “continues to look compelling.”