BTIG Trims AppLovin (APP) Target to $664 Ahead of Q3 Results

AppLovin Corporation (NASDAQ:APP) is one of the best stocks to invest in, according to billionaire D.E. Shaw. On October 31, BTIG lowered its price target on AppLovin (NASDAQ:APP) from $693 to $664 but kept a Buy rating. The move comes ahead of the company’s Q3 earnings report, due November 5.

BTIG Trims AppLovin (APP) Target to $664 Ahead of Q3 Results

The revision follows mixed feedback on AppLovin’s non-gaming referral program, though non-gaming ad spend remained strong in Q3. BTIG slightly reduced Q4 expectations, citing advertiser caution despite the company’s 78.9% revenue growth over the past year. Still, the firm sees upside, pointing to solid third-party data and a healthy demand backlog.

AppLovin Corporation (NASDAQ:APP) is a technology company that provides end-to-end software and an AI-powered platform for businesses to market, monetize, and grow their mobile audiences. Its services help advertisers find customers and publishers manage and monetize their app advertising inventory through a suite of tools like AppDiscovery, MAX, and Adjust.

While we acknowledge the potential of APP to grow, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an AI stock that is more promising than APP and that has 100x upside potential, check out our report about this cheapest AI stock.

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Disclosure: None. This article is originally published at Insider Monkey.