JPMorgan has adjusted its outlook on AppLovin (APP, Financial), reducing the company's price target from $475 to $270 while maintaining a Neutral rating on the stock. This revision is part of a broader reevaluation of small to mid-cap internet and video game firms, as macroeconomic factors and tariff uncertainties create a challenging environment.
Analysts have been prompted to lower revenue projections by up to 5% across these sectors, placing particular emphasis on companies most susceptible to direct economic and tariff-related risks. Ahead of AppLovin's first-quarter earnings report, the firm's strategic reassessment reflects a cautious stance on the potential impacts of these broader market conditions.
