BofA analyst Omar Dessouky lowered the firm’s price target on AppLovin (APP) to $705 from $780 and keeps a Buy rating on the shares. After earnings, the firm lowered its valuation due to a sector de-rating and a lowered e-commerce growth trajectory, but keeps a Buy rating on shares as it contends that AppLovin has “significant valuation support driven by its dominant gaming biz.”
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- AppLovin price target raised to $640 from $465 at Wedbush
- AppLovin price target lowered to $700 from $860 at Jefferies
- AppLovin price target lowered to $585 from $710 at Goldman Sachs
- AppLovin price target lowered to $650 from $800 at Piper Sandler
- AppLovin price target lowered to $640 from $771 at BTIG