AppLovin Corporation (NASDAQ:APP) is named among the top 10 meme stocks to buy. Jefferies lowered the stock’s price target to $700 from $860 but kept a Buy rating due to increased competition in advertising. Q4 results showed sales of $1.66 billion, a 66% YoY increase, with net income at $1.10 billion, up 84%.

Jefferies praised the ‘impressive’ results despite cutting the price target. Morgan Stanley also reduced its target to $720 from $800 due to sector-wide valuation reduction, while maintaining an Overweight rating. The stock remains a Strong Buy with an 88.62% upside potential as of February 12.

AppLovin Corporation (NASDAQ:APP) offers marketing solutions through software and AI to help businesses monetize content and reach global audiences. Despite its potential, other AI stocks may offer greater upside potential and less risk. For an undervalued AI stock benefiting from current trends, check out the best short-term AI stock.

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Read more at Yahoo Finance: Jefferies Cuts AppLovin Corporation (APP)’s Price Target To $700 From $860, Keeps Buy Rating