APP is trading at $391.07 (+5.10%) after an analyst from Evercore ISI reiterated an 'Outperform' rating and a $750 price target for the stock.
- Analyst Robert Coolbrith stated the stock's recent decline was 'unwarranted' and that checks with gaming advertisers at the end of the first quarter were 'very positive'.
- The stock is also benefiting from a broader market rally, with major indices gaining amid reports of easing geopolitical tensions between the U.S. and Iran.
- Investor sentiment was further supported by comments from Fed Chair Jerome Powell on March 30, who suggested the central bank can look past the immediate energy shock from the conflict.