"That bank was Wells Fargo, and the analyst doing the raising was Alec Brondolo. The pundit cranked his AppLovin price target to $491 per share; previously he had flagged it as being worth $480. In making his move, he left his overweight (i.e., buy) recommendation unchanged. Brondolo's lift derived from adjustments to his revenue estimates for both full-year 2026 and 2027, according to reports. He pushed his top-line expectation 6% higher for the former year, and by 3% for the latter."
"Earlier this month the company delivered second-quarter results that featured a mighty 77% year-over-year surge in revenue (to almost $1.3 billion), while earnings per share (EPS) from continuing operations leaped even higher, nearly tripling to $2.39. This is a stock with serious momentum behind it, and it feels like a buy even though it's not as cheap as it once was."
AppLovin shares gained nearly 2% after Wells Fargo analyst Alec Brondolo raised the price target to $491 from $480 while maintaining an overweight recommendation. Brondolo increased revenue estimates by 6% for full-year 2026 and by 3% for 2027, citing rising web traffic to AppLovin customer sites and the entry of larger advertising clients despite slower overall customer growth. The company reported a 77% year-over-year revenue jump to nearly $1.3 billion in Q2 and a nearly threefold increase in EPS from continuing operations to $2.39. The stock shows strong momentum, though valuation is higher than before.
Read at The Motley Fool
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