AppLovin Gains 6.7% on Wells Fargo Raise

AppLovin shares rose 6.7% after Wells Fargo analyst Alec Brondolo lifted the price target to $560 from $543, keeping Overweight rating.
The analyst upgraded Q1 2026 revenue estimate to $1.82 billion, 10% QoQ growth, and raised revenue forecasts by 3% ahead of consensus.
AppLovin’s e‑commerce revenue estimate increased to $235 million for Q1, up from $222 million in Q4, despite limited new advertiser impact.
Shares have fallen ~40% YTD 2026 amid AI ad‑tech disruption concerns, a short‑seller money‑laundering allegation, and ongoing SEC data‑collection scrutiny.