AppLovin price target raised to $440 from $315 at UBS

UBS raised the firm’s price target on AppLovin (APP) to $440 from $315 and keeps a Buy rating on the shares. The firm has more confidence in the ecommerce opportunity following its channel check work, the analyst tells investors in a research note. The firm’s checks were directionally positive, but indicated Q4 likely didn’t feature a major algorithm tweak for gaming user acquisition advertisers, the firm says, adding that ecommerce advertisers expect AppLovin to gain wallet share in FY25, but because it’s driving new customers to the brands, it’s unlikely to come at the expense of other advertising channels.