Oppenheimer analyst Martin Yang raised the firm’s price target on AppLovin to $97 from $85 and keeps an Outperform rating on the shares. The firm notes AppLovin reported Q1 revenue/adjusted EBITDA well above consensus and guidance of $965M/$485M, respectively. Software Platform further accelerated with 18% quarter-over-quarter growth, exceeding bullish buy-side estimate of 10%.
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