Why AppLovin Stock Jumped Today
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AppLovin's stock rose by 7.8% following a price target increase from Morgan Stanley, which raised its target to $750, citing the upcoming launch of Axon Ads Manager as a key catalyst for expanding into nongaming advertising. Analysts from Piper Sandler and UBS also provided optimistic targets, reinforcing confidence in AppLovin's growth potential. However, the stock's high valuation poses risks if adoption falters or ad spending slows, despite strong business momentum.
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