AppLovin Corp. shares are up roughly 30% over the past three months following a strong earnings report and bullish analyst sentiment, according to Benzinga. In May, the company reported earnings per share of $1.67, beating the estimate of $1.45, and revenue of $1.48 billion, which exceeded the consensus of $1.38 billion. Advertising revenue surged 71% year-over-year to $1.15 billion, while apps revenue dropped 14% to $325 million. Analysts from UBS, Jefferies, and Morgan Stanley maintained bullish ratings on AppLovin and raised their price targets. JP Morgan maintained a Neutral rating but raised its price target. The stock is trading up 4.01%, with a consensus price target of $328.68.
