AppLovin price target lowered to $436 from $547 at HSBC

HSBC analyst Mohammed Khallouf lowered the firm’s price target on AppLovin (APP) to $436 from $547 and keeps a Buy rating on the shares. In light of current macro headwinds, the firm revisited social media and AdTech names under its coverage and lowered revenue growth forecasts by 300-500 basis points for FY25 and by 200-300 points for FY26 to better reflect the more-sluggish near-to-medium-term global ad demand outlook.