Why Investors Were So Sweet on AppLovin Stock This Week

News coming directly from app monetization specialist AppLovin (NASDAQ: APP) has been fairly light in recent days, yet investors were eager to snap up the stock. Much of this had to do with a recommendation upgrade from a newly minted AppLovin bull. The result was that the company's share price had improved by over 10% week to date as of early Friday morning, according to data compiled by S&P Global Market Intelligence.The analyst responsible for the upgrade is UBS' John Hodulik, whose new recommendation is a buy with a price target of $145. This represents quite a change in sentiment for the prognosticator, who previously rated AppLovin a neutral with a $100-per-share fair value estimation. Hodulik waxed positive about the combination of encouraging revenue growth in the medium term, and the company's modest valuations. He also feels management is effectively getting plenty of bang for the buck, so to speak.Continue readingWeiter zum vollständigen Artikel bei MotleyFool Weiter zum vollständigen Artikel bei MotleyFool