AppLovin price target raised to $150 from $115 at Macquarie

Macquarie raised the firm’s price target on AppLovin (APP) to $150 from $115 and keeps an Outperform rating on the shares. The stock is up 36% month-to-date amid a surge of sell-side upgrades and target price increases the past two weeks, the analyst tells investors in a research note. The firm thinks the rally is justified, saying AppLovin has created a “virtuous circle” in its software platform mobile advertising tech that enables it to outgrow the market through its “superior access” to gaming data and its “leading” artificial intelligence. References to Trade Desk (TTD) “are becoming more appropriate, as both companies have built a leading position in their respective areas of ad tech through vision and execution, says Macquarie.