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.
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.
Collection
[
|
...
]