AppLovin price target raised to $650 from $450 at Loop Capital

Loop Capital raised the firm’s price target on AppLovin (APP) to $650 from $450 and keeps a Buy rating on the shares. The stock price appreciation, rampant enthusiasm, and its race for highest sell-side targets, are naturally met with skepticism, but the firm is hard-pressed to “punch serious holes” in the bull thesis, the analyst tells investors in a research note. Loop adds that it continues to pick up positive feedback from advertisers and sees breakout momentum continuing for the business.