PREVIEW: AppLovin shares decline; results due after the bell

Shares of AppLovin APP.O were down 3.7% in afternoon trading Wed, with the co seen reporting higher rev and EPS in its quarterly results, due after the closing bell

The mobile tech co is expected to report Q4 rev of $1.60 bln vs $1.37 bln a yr ago and adj EPS of $2.93 vs $1.73 a yr ago, per LSEG

In its last report, APP beat Q3 rev estimates and guided for Q4 rev between $1.57 bln and $1.60 bln

The median 12-mo PT on the stock is $750, with the stock last at $455.42

Analyst recommendations on the stock include 26 "stong buy" or "buy" ratings, three "hold" ratings and one "sell" rating, based on LSEG data

Software stocks have been in the spotlight; they sold off last week amid fears about AI disruption

APP has dropped ~32% YTD, underperforming the Nasdaq's .IXIC 0.6% fall over that period