$APP, the stock symbol for AppLovin, has reached a new 52-week high after Bank of America (BofA) analysts raised its price target to $120. Philippe Laffont, a prominent hedge fund manager, doubled his stake in the company to 2.28 million shares in Q2. Additionally, 64% of top hedge fund holders were buyers of $APP shares. Following meetings with management, BofA also increased its 2025 and 2026 revenue and EBITDA estimates for AppLovin, with EBITDA 12% and 24% above street estimates, driven by upgrades to its software segment. BTIG raised its price target on $APP to $150 from $114 and reaffirmed it as a top pick. $APP has seen a 27.5% increase in the last three trading days, with a 3.95% rise today alone.