Shoptalk data points positive for AppLovin, says Oppenheimer

Oppenheimer attended Shoptalk, which the analyst calls “one of the largest annual retail and e-commerce industry conferences” in the U.S. and spoke to agencies, brands and measurement partners that work with AppLovin (APP) on e-commerce marketing. Overall, customer and partner commentary continue to support the firm’s bullish view on AppLovin’s e-commerce growth, says the analyst, who reiterates an Outperform rating and $560 price target on the shares.