AppLovin price target raised to $55 from $47 at DA Davidson

DA Davidson raised the firm’s price target on AppLovin to $55 from $47 and keeps a Buy rating on the shares. The company reported a “blowout” Q3, beating revenue and EBITDA by 17% with impressive efficiency gains by AXON 2, the analyst tells investors in a research note, adding that this “growth has legs”. DA Davidson further notes that AppLovin’s Apps business grew for the first time in six quarters.