Goldman Sachs downgraded AppLovin to Neutral from Buy with a price target of $150, up from $103, citing balanced risk/reward ahead of quarterly results. The firm made upward revisions to its revenue forecasts reflecting the current Software offering driven by AXON 2.0. Goldman also found that AppLovin is positively tracking against broadly stable/strong ad industry trends. In addition, the firm’s industry work would imply a relative stability in the company’s Apps segment as the company has articulated a strategy to strike a balance between growth and margins in that segment.
Meet Your ETF AI Analyst
- Discover how TipRanks' ETF AI Analyst can help you make smarter investment decisions
- Explore ETFs TipRanks' users love and see what insights the ETF AI Analyst reveals about the ones you follow.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on APP:
- AppLovin (NASDAQ:APP) Stock Skyrockets 242% on Growth and AI Potential
- AppLovin price target raised to $110 from $80 at Morgan Stanley
- AppLovin price target raised to $150 from $115 at Macquarie
- AppLovin price target raised to $155 from $110 at Citi
- Red-Hot AppLovin (NASDAQ:APP) Warrants a Bull Call Options Spread