UBS analyst Chris Kuntarich responds to a short report that alleges that AppLovin (APP) engages in ad fraud and data exploitation of Meta (META), arguing that the findings “overstate the importance of clicks/installs vs. advertiser ROAS.” While the reaction to the report “strikes us as overblown,” the firm adds that the short report will likely remain an overhang until AppLovin addresses the allegations “head-on.” UBS has a Buy rating and $630 price target on AppLovin shares.
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