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 from $693 to $664 but kept a Buy rating. The move comes ahead of the company’s Q3 earnings report, due November 5.
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 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.
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This article is originally published at Insider Monkey.
