Oppenheimer says AppLovin underperformance presents very good buying opportunity

Oppenheimer believes AppLovin’s (APP) 15% stock price decline on December 9 presents a very good buying opportunity for one of the most exciting growth companies at a reasonable valuation. Similar to the firm’s last update on e-commerce, customer feedback remains highly favorable toward AppLovin, Oppenheimer says. AppLovin remains a top pick in the firm’s coverage. Oppenheimer has an Outperform rating on the shares with a price target of $480.