Why Digital Turbine Stock Popped Today
Shares of Digital Turbine (NASDAQ: APPS) popped by as much as 10% today following a bullish research note from Wall Street. Craig-Hallum reiterated a buy rating on the stock while increasing its price target from $44 to $60. As of 3:10 p.m. EST, shares were up 9%.
Analyst Anthony Stoss says that the company's partnership with Samsung is starting to pay off in Brazil. Digital Turbine, which operates an on-device media platform for wireless carriers, phone manufacturers, and advertisers, is also positioned to enjoy cross-selling opportunities while also benefiting from rising 5G adoption, according to Stoss. Craig-Hallum called Digital Turbine the "Roku of smartphones," which is a favorable comparison since the streaming TV platform has seen its stock gain nearly 150% so far this year.
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Source Fool.com
