Here are the key analyst insights:
Wedbush analyst Alicia Reese maintained an Outperform rating, while raising the price target from $465 to $640.
BTIG analyst Clark Lampen reiterated a Buy rating, while slashing the price target from $771 to $640.
Needham analyst Bernie McTernan reaffirmed a Buy rating and price target of $700.
BofA Securities analyst Omar Dessouky maintained a Buy rating, while reducing the price target from $780 to $705.
JPMorgan analyst Cory Carpenter reaffirmed a Neutral rating, while cutting the price target from $650 to $500.
Check out other analyst stock ratings.
Wedbush: Applovin delivered an "exceptional" beat-and-raise quarter, "reinforcing its position as the preeminent AI-driven software platform in the mobile advertising ecosystem," Reese wrote in a note. The company reported revenue of $1.658 billion and earnings of $3.24 per share, topping consensus estimates of $1.610 billion and $2.95 per share, respectively, she added.
Applovin achieved a record margin of 84.4% in the quarter and "highlighted the massive growth opportunity it has in years ahead," the analyst further stated.
BTIG: Applovin's first-quarter guidance was "substantially better than we expected," implying sequential growth in the high single digits, Lampen said. ...
