Digital Turbine (APPS)

Feb 8, 2022Trade Ideas

At one time, Digital Turbine (APPS) was one of the most explosive stocks on the market.

After bottoming out around $3.90 in early 2020, the stock ran to a high of about $92. While the stock has since pulled back to about $44, it’s still a solid opportunity. Especially after inking a strategic partnership with Google, which caught the attention of Roth Capital’s Darren Aftahi.

“APPS will act as one of the lead app discovery platforms for the roughly one billion Android devices across the globe Ignite – AAPS’ app delivery and discovery platform – supports, streamlining APPS’ ability to achieve greater scale and install footprint in which it can begin to introduce more products and services (many of which carry higher revenue per device rates),” said the analyst, as quoted by Tip Ranks.

Even better, the analysts at Macquarie upgraded the stock to outperform, as well with a price target of $80, believing the stock trades at an attractive valuation following a pullback.

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