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Bank of America Analyst Advocates ’Buy the Dip’ Strategy for AppLovin Amid SEC Probe
Bank of America Analyst Advocates ’Buy the Dip’ Strategy for AppLovin Amid SEC Probe
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BTCCSquare news:
AppLovin (APP) shares face pressure after Bloomberg revealed a U.S. SEC investigation into the company's data practices. Bank of America's top analyst Omar Dessouky sees the selloff as a buying opportunity, maintaining a $860 price target and Buy rating.
The probe follows whistleblower complaints and short-seller reports, but Dessouky notes the absence of formal SEC disclosures suggests a preliminary inquiry. 'This creates a particularly attractive entry point based on current information,' the 5-star analyst stated.
AppLovin's transformation of mobile gaming into an e-commerce channel remains compelling, with projected 65% revenue growth by 2026. The company continues attracting advertisers despite regulatory scrutiny.
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