These Analysts Boost Their Forecasts On AppLovin Following Upbeat Q3 Results

AppLovin Corp (NASDAQ:APP) reported better-than-expected third-quarter financial results after the market close on Wednesday.

AppLovin reported third-quarter revenue of $1.41 billion, missing analyst estimates of $1.34 billion, according to Benzinga Pro. The advertising technology company reported third-quarter earnings of $2.45 per share, beating analyst estimates of $2.41 per share.

AppLovin expects fourth-quarter revenue to be in the range of $1.57 billion to $1.60 billion versus estimates of $1.55 billion. The company anticipates fourth-quarter adjusted EBITDA of $1.29 billion to $1.32 billion.

AppLovin shares jumped 6.9% to $659.44 in pre-market trading.

These analysts made changes to their price targets on AppLovin following earnings announcement.

• BTIG analyst Clark Lampen maintained AppLovin with a Buy and raised the price target from $693 to $705.
• Wedbush analyst Alicia Reese maintained the stock with an Outperform rating and boosted the price target from $745 to $800.

Considering buying APP stock? Here’s what analysts think:

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