Why AppLovin Stock Bumped Higher Today
Mobile adtech company AppLovin (NASDAQ: APP) was certainly feeling the investor love on Thursday, as bullish market players bid the company's stock up by almost 3%. Much of this was attributable to an analyst's move early that morning. AppLovin's bounce was higher than that of the S&P 500 (SNPINDEX: ^GSPC), which saw an uptick of 0.8% across the trading session.
Well before market open, Jefferies' James Heaney pulled the lever on an AppLovin price target raise. In his view, the stock is now worth $615 per share, well up from his previous assessment of $560. With the move, Heaney kept his existing buy recommendation intact.
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Source Fool.com
