Applovin APP.O shares fall 5% to $321.94 after Bank of America analysts downgrade the U.S. marketing platform to neutral and cut their price target on the stock.
APP is trading at its lowest level since June 2025.
The company missed second-quarter revenue estimates last week, sending shares down about 20% on Aug. 6 and prompting numerous analysts to cut price targets.
BofA had cut its price target to $430 from $705; it now cuts further to $400.
Analysts led by Omar Dessouky cite increased risks to APP's estimated 30% year-over-year revenue growth trajectory.
"Post Q2 print, Engineer-directed improvements to Gaming models appear to be the primary driver of quarter-over-quarter growth, while it has become unclear whether self-learning growth of 3-5% Q/Q still applies," the analysts said.
Thirty-two analysts covering APP have an average rating of "buy"; the median price target is $574, according to LSEG data.
APP is now down 52% year to date, compared with the Nasdaq's .IXIC 14% gain in the same period.
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