JPMorgan assumes AppLovin (APP) coverage with Neutral rating and $400 target. Read key details on mobile gaming growth and margin forecasts.

AppLovin shares are falling Tuesday after BofA Securities downgraded the stock from Buy to Neutral and cut its price target to $400.

AppLovin has been on a wild ride for the past couple of years. Its shares traded at around $80 in 2024, reached $720 in late 2025 and now trade at $340. In that short time,…