AppLovin shares rebounded 8% after a sharp selloff tied to SEC inquiry reports. BTIG called the drop an overreaction, reaffirming its Buy rating and $664 target as revenue is projected to climb past $8B by 2026.
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00:02Applovin Corporation shares fell sharply on Monday after Bloomberg reported the company is facing SEC inquiries, according to Benzinga.
00:09BTIG analysts called the reaction a headline-driven overreaction, suggesting the inquiries likely relate to short-seller reports earlier this year.
00:17BTIG noted that Applovin swiftly refuted short-seller allegations of improper ad practices, which have not been substantiated.
00:23BTIG reaffirmed its buy rating and $664 price target, calling the sell-off overblown and praising Applovin's data-driven ad model built on unskippable video content.
00:34Analysts expect Applovin's revenue to rise from $4.71 billion in 2024 to $5.84 billion in 2025 and reach $8.18 billion by 2026.
00:44Applovin shares rose 8.27%, $635.57 on Tuesday.
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