Loop Capital notes that AppLovin (APP) shares were hit by a short report alleging faulty conversions, violation of iOS and Android terms of service, a limited technology moat and fraudulent reporting. However, the analyst tells investors that accusations of faulty conversions and fraud are “easily disproved by speaking with performance marketers and measurement companies.” The firm, which is “confident the platform is delivering excellent performance,” keeps a Buy rating and $650 price target on AppLovin shares.
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