AppLovin shares rise as analysts raise targets following a Q1 earnings beat and strong revenue guidance for the year.
AppLovin Corporation (NASDAQ:APP) surged after JPMorgan raised its price target to $515 from $500, citing a strong Q1 performance. The company exceeded earnings per share estimates by $0.12 and revenue by $0.06 billion, driving analyst optimism.
Management projected revenue between $1.915 billion and $1.945 billion for the year, with an adjusted EBITDA margin of 84%-85%. CEO Adam Foroughi highlighted the upcoming launch of Axon, an AI-powered platform expected to boost advertiser adoption.
Wall Street responded favorably, with Deutsche Bank and Piper Sandler also lifting price targets to $660 and $665, respectively. Piper Sandler noted the quarter marked the largest percentage beat since Q1 2025.