Applovin rises as Deutsche Bank initiates coverage with "buy" rating

** Shares of Applovin APP rise 1.7% to $562.25 on Wed after Deutsche Bank analysts initiated coverage with a "buy" rating

** APP is on track to snap three straight sessions of losses

** "AppLovin is the dominant player within the mobile games' user acquisition advertising space, with ~80% market share on the supply side and more than 55% share on the demand side. APP has built best-in-class ad tech that becomes more performant the larger the company's scale," said Deutsche Bank analyst Ben Black

** Deutsche Bank set APP's PT at $705

** Among 27 analysts covering APP, avg rating is "buy" and median PT is $673.50

** APP is up 72.8% YTD vs NASDAQ Composite Index's IXIC 17.8% increase