AppLovin price target raised to $88 from $60 at Macquarie

Macquarie raised the firm’s price target on AppLovin to $88 from $60 and keeps an Outperform rating on the shares. AppLovin’s “strong” Q4 results were actually bested by its Q1 guidance, says the analyst, who is raising estimates and says that the company’s Software Platform mobile ad tech business model “exhibits extremely attractive economics.”