The company had a difficult start to 2021 with UBS Group downgrading AppLovin from a ‘buy’ rating to ‘neutral’ – lowering its target price from $59.00 to $16.00 in the process. Other major analysts have also expressed concerns about AppLovin’s stock performance in recent months, including Goldman Sachs which reduced its price objective from $33.00 to $21.00 after reporting strong Q4 results. Similarly, Credit Suisse group cut AppLovin’s target price from $57.00 to $47.00 earlier this year while giving the stock an “outperform” rating. Further adding fuel to AppLovin’s fire is that insiders have been quietly shedding shares of late as well. With an increasing number of investors beginning to pay attention, it is clear that AppLovin’s growth trajectory shows no signs of slowing down anytime soon.

Source: Forbes May 15, 2023 23:03 UTC