AppLovin price target raised to $51 from $50 at BTIG

BTIG raised the firm’s price target on AppLovin (APP) to $51 from $50 and keeps a Buy rating on the shares. The firm’s channel checks suggest that AppLovin continues to capture budget share, the analyst tells investors in a research note. Beyond earnings, the focus is set to shift to the company’s FY24-FY25 catalysts ex-Axon, and there are a few items worth monitoring: the ongoing Google (GOOGL) RTB transition, CTV and Array-driven expansion efforts, plus further equity-accretive capital allocation, BTIG added.