AppLovin slumps after missing revenue estimates
06/08/2026 09:56
BUZZ-AppLovin slumps after missing revenue estimates ** Shares of AppLovin APP.O drop 15.7% to $352.73 premarket
** The marketing platform's Q2 revenue of $1.924 billion missed analysts' average estimate of $1.935 billion - LSEG-compiled data
** Q3 revenue forecast was largely in line with estimates
** At least four brokerages cut PT on the stock, with Piper Sandler downgrading stock rating to "neutral" from "overweight"
** Stock recently at 21 times expected earnings, vs average forward PE of 45 over past five years, per LSEG-compiled data, suggesting it may be undervalued
** Median analyst PT on APP is $640 and average rating of 32 analysts is "buy"
** YTD, stock has plunged about 38%, compared to Nasdaq's .IXIC 13.4% rise
(Reporting by Joel Jose in Bengaluru)