AppLovin stock dives 10% in New York trade even as Evercore, Morgan Stanley flag upside
AppLovin shares plunged 10.1% to $601.05 Wednesday, outpacing the Nasdaq’s decline, after opening higher than Tuesday’s close. Evercore ISI began coverage with an Outperform rating and $835 target, while Morgan Stanley raised its target to $800. The company’s next earnings report is set for Feb. 11. The SEC continues to investigate AppLovin’s data-collection practices, with no charges filed.