Evercore ISI analyst Robert Coolbrith views recent, negative stock price momentum in AppLovin (APP) as “deeply out of step with company fundamentals and feedback from our checks,” reporting that gaming advertiser checks exiting Q1 have been “highly constructive” and outside gaming, the firm’s limited, anecdotal agency and advertiser checks have been not out of step with prior checks. The firm is reiterating an Outperform rating and $750 price target on AppLovin shares.
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