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Barchart
Barchart
Wajeeh Khan

Analysts Are Slashing Price Targets on AppLovin Stock. Here's Why.

APP AppLovin Needham RBC Wells Fargo

AppLovin (APP) shares crashed on Aug. 6 after a Q2 revenue miss and muted future guidance prompted several Wall Street analysts to lower their price targets on the mobile technology company. Management now expects revenue to print at $2.075 billion in the third quarter, marginally below the $2.08 billion consensus.

Street downward revisions are particularly significant given AppLovin stock is already down about 50% versus its year-to-date high.

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