Applovin falls after BofA downgrade to "neutral"
BUZZ-Applovin falls after BofA downgrade to "neutral" ** Applovin APP.O shares fall 5% to $321.94 after Bank of America analysts downgrade the U.S. marketing platform to "neutral" and cut their PT on the stock
** APP is trading at its lowest level since June 2025
** Missed Q2 revenue est. last week, sending shares down ~20% on Aug. 6 and prompting numerous analysts to cut PTs.
** BofA had cut PT to $430 from $705; now cuts further to $400
** Analysts led by Omar Dessouky cite increased risks to APP's estimated 30% y/y revenue growth trajectory
** "Post Q2 print, Engineer-directed improvements to Gaming models appear to be the primary driver of Q/Q growth, while it has become unclear whether self-learning growth of 3-5% Q/Q still applies" - analysts
** 32 analysts covering APP have an avg rating of "buy"; median PT is $574, per LSEG data
** APP is now down 52% YTD compared with the Nasdaq's .IXIC 14% gain in the same period
(Reporting by Chibuike Oguh in New York)
((Email: Chibuike.Oguh@thomsonreuters.com; Phone: +332-219-1834; Reuters Messaging: chibuike.oguh.thomsonreuters.com@reuters.net))