BTIG lowered the firm’s price target on AppLovin (APP) to $640 from $771 and keeps a Buy rating on the shares. The company reported Q4 results that surpassed the firm’s expectations, but fell slightly shy of buyside estimates, the analyst tells investors in a research note. AppLovin is taking a prudent approach to reducing/removing the multiple hurdles for new advertisers onboarding to the platform before scaling up awareness marketing – monetary costs, creative challenges, and learning curve/laziness, the firm added.
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