Applovin Corp(NASDAQ:APP) stock shot higher on Thursday following the upbeat quarterly print.

On Wednesday, the company reported third-quarter revenue of $1.2 billion, up 39%, beating analyst consensus estimates of $1.13 billion. Applovin increased the company's share repurchase program by $2 billion.

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It expects fourth-quarter revenue of $1.24 billion—$1.26 billion.

Multiple Wall Street analysts rerated the stock after the quarterly results.

JP Morgan analyst Cory Carpenter maintained AppLovin with a Neutral and raised the price target from $160 to $200.

Needham analyst Bernie McTernan reiterated...