AppLovin price target raised to $480 from $260 at Oppenheimer

Oppenheimer analyst Martin Yang raised the firm’s price target on AppLovin (APP) to $480 from $260 and keeps an Outperform rating on the shares after hosting calls with two experts who participated in the company’s e-commerce pilot. The firm’s experts provided favorable early impressions and metrics from both the agency and direct-to-consumer brand perspectives. They highlighted ROAS on-par with Meta‘s (META). Oppenheimer believes recent stock performance and accelerating momentum in e-commerce will help create multiple flywheels favorable to APP stock and underlying business momentum into 2025. The firm views AppLovin as a top pick in its coverage.