AppLovin Corp (NASDAQ:APP) shares are trading lower on Thursday after the company reported its fourth-quarter financial results, despite delivering a strong beat-and-raise quarter that exceeded Wall Street expectations.
Following the print, Wedbush defended AppLovin and significantly raised its price target, expecting outsized gains over the coming year.
- AppLovin shares are retreating from recent levels. Why is APP stock falling?
Wedbush Sees Massive Upside After Earnings Sell-Off
AppLovin posted a positive fourth-quarter, with revenue of $1.658 billion — ahead of estimates and up 66% year-over-year — and adjusted EBITDA of $1.399 billion. Earnings per share of $3.24 also beat expectations. Despite the positive quarter, the stock is facing heavy …