AppLovin stock price rises in midday trade as Needham turns bullish on Axon e-commerce push
AppLovin shares rose 1.2% to $550.25 midday Wednesday after Needham upgraded the stock to “buy” and set a $700 target, citing gains in e-commerce ad revenue and new retail clients. Investors await the company’s Feb. 11 earnings report for more detail on Axon’s performance and advertiser growth. The SEC continues to investigate AppLovin’s data practices.