AppLovin price target raised to $435 from $335 at Goldman Sachs

Goldman Sachs raised the firm’s price target on AppLovin (APP) to $435 from $335 and keeps a Neutral rating on the shares. In its Q1 earnings report, AppLovin emphasized a strong advertising revenue performance on the back of continued success with its Axon 2.0 platform and the early scaling of its push into the e-commerce opportunity, the analyst tells investors in a research note. The firm continues to expect near-term investor debates around how much a forward estimate revision cycle is already priced into the shares at current levels.