1520 ET - AppLovin investors shouldn't get too excited by an apparent acceleration in adoption of the company's e-commerce web-tracking pixel. Wells Fargo analysts say the rise in new pixels has been driven by low-to-no-traffic sites in the Asia Pacific region. "Inflection appears to be a false start," the analysts wrote, adding that the numbers may reflect a data error. "We don't observe a meaningful inflection in pixel additions when weighting pixels by web traffic," they write. The analysts add that AppLovin is early in its new e-commerce partner strategy, and an inflection in customer growth probably won't come before next year. Shares are down 2.7% at $282.64, and earlier touched a 52-week low of $275.13.
At the request of the copyright holder, you need to log in to view this content
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.