AppLovin perks up as Piper Sandler says it has 'room to run'

seekingalpha11-20 22:03

ipopba/iStock via Getty Images AppLovin (NASDAQ:APP) was in focus on Wednesday as investment firm Piper Sandler initiated coverage on the mobile technology company and said the stock has "room to run...

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Callahan, who has an Overweight rating and $400 price target on AppLovin, said the company's technology has driven ad revenue growth \"well above the market,\" and there is room to drive monetization per minute even higher.  Additionally, the company's scale is impressive, as it has roughly 1.4B daily active users interacting with MAX mediation, a figure that rivals Meta Platforms (META). 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