AppLovin price target raised to $70 from $60 at Oppenheimer

Oppenheimer raised the firm’s price target on AppLovin to $70 from $60 on stronger revenue and margin outlook, while keeping an Outperform rating on the shares. The firm notes AppLovin delivered an impressive Q4 beat. The firm also guided Q1 revenue/adjusted EBITDA of $965M/$485M, well ahead of Street expectations of $912M/$440M.