Applovin is trading 4.34% down at $324.29 after BofA Securities downgraded the company to Neutral from Buy and cut its price target to $400 from $430.
- BofA cited concerns about the sustainability of Applovin’s long-term growth drivers.
- The firm also cited uncertainty around continued self-learning gains.
- The pressure follows a rare second-quarter revenue miss and softer-than-expected outlook; broader markets are mixed, suggesting a primarily company-specific decline.