Goldman Sachs analyst Eric Sheridan raised the firm’s price target on AppLovin (APP) to $720 from $630 and keeps a Neutral rating on the shares. AppLovin’s Q3 report highlighted strong advertising revenue growth driven by its AXON 2.0 platform, with particular momentum across both gaming and non-gaming sectors, while management expressed confidence in expanding non-gaming opportunities through a new self-serve eCommerce portal and broader ad demand integration, the analyst tells investors in a research note. Goldman Sachs still sees a balanced risk/reward.
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