AppLovin (APP) shares fell almost 6% to $319 after Bank of America lowered its rating on the tech stock to “Neutral.” The move came just days after the ad tech company posted second quarter results that fell short of its own guidance, forcing analysts to ask a key question: can AppLovin continue to grow at the pace it has promised?
That promise is 30% annual revenue growth over the long run. It's an ambitious number, and until recently, Wall Street mostly took it at face value. Now, at least one major bank wants more proof.
