Analysts trimmed price targets after AppLovin reported weaker-than-expected Q2 results, extending a year-long decline.
AppLovin (APP) stock fell 20% to $336.28, hitting a 52-week low after disappointing Q2 earnings. The drop reflects investor concerns over softer-than-anticipated performance despite prior bullish sentiment on the stock’s 2024-2025 outlook.
Analysts maintained positive ratings but reduced price targets following the report. Earlier in July, concerns emerged over a “muted start” to the company’s e-commerce ad rollout, adding to downward pressure.
The decline marks a continued rough patch for AppLovin, which had been a high-flying stock in recent years.