According to the average brokerage recommendation (ABR), one should invest in AppLovin (APP). It is debatable whether this highly sought-after metric is effective because Wall Street analysts' recommendations tend to be overly optimistic. Would it be worth investing in the stock?
Shares of AppLovin Corp (NASDAQ:APP) fell by 3.3% in pre-open trading on Monday following a downgrade from Goldman Sachs, which revised its rating to "neutral" from "buy." Since being added to Goldman’s Buy list in April 2022, AppLovin's shares have surged an impressive 192%, outpacing the broader S&P 500, which gained 30% during the same period. With the stock price now at $143, reflecting a 113% gain since the company’s last earnings report, Goldman believes the valuation has reached a more balanced level.
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