Nov. 18 at 12:33 AM
$APP $GOOG $NVDA $META $MU
Following strong third-quarter results, several analysts have recently upgraded Applovin's price target, with prominent examples including Scotiabank raising its target to
$750, Benchmark increasing its target to
$700, and Royal Bank of Canada lifting its target to
$750. These upgrades reflect positive Q3 performance and strong management guidance.
Recent upgrades
Scotiabank: Raised target from
$575 to
$750.
Benchmark: Increased target from
$640 to
$700.
Royal Bank of Canada (RBC): Raised target from
$700 to
$750.
UBS: Lifted target to
$840.
Piper Sandler: Moved target to
$800.
Key reasons for upgrades
Strong Q3 results: The company reported a 68% year-over-year increase in revenue and a 79% year-over-year rise in adjusted EBITDA.
Positive management commentary: Analysts were encouraged by management's outlook, which cited drivers like expanding ad supply, a diversified content portfolio, and improved user retention.
Positive forward guidance: Piper Sandler specifically noted strong forward guidance from the company, projecting significant quarter-over-quarter growth.
Analyst consensus
The average price target from multiple analyst sources is around
$658–
$749, with a consensus rating of "Strong Buy" or "Moderate Buy".
Analyst targets range from a low of
$200–
$435 to a high of
$860.
