B.Riley FBR analyst Sameet Sinha assigned a Buy rating to Digital Turbine Inc (APPS) today and set a price target of $4. The company’s shares opened today at $3.50, close to its 52-week high of $3.97.
Sinha commented:
“We have previously estimated the Samsung opportunity at $120M in Europe; 3) Expect additional partnership announcements soon. Management indicated it is in contract stage with Tier 1 and global operators which should expand its business globally; 5) The company forced conversion of convertible debt last week and is debt-free now; 6) Incremental relationship with Sprint in the U.S. APPS is working with most major carriers in the U.S. and Sprint was the holdout. Management announced it is working with India-based App network inMobi to drive their advertisers to APPS’ platform. Details will be provided later but this is an indication of APPS’ growing influence in the ecosystem; 7) APPS is now working with companies beyond App-based businesses and has expanded to global brands such as Coca-Cola, Walmart, Alibaba etc.”
According to TipRanks.com, Sinha is a 4-star analyst with an average return of 6.4% and a 51.1% success rate. Sinha covers the Technology sector, focusing on stocks such as Brightcove Inc, Cars com Inc, and RumbleON Inc.
Currently, the analyst consensus on Digital Turbine Inc is a Strong Buy with an average price target of $4.23, a 20.9% upside from current levels. In a report released today, Roth Capital also maintained a Buy rating on the stock with a $4.25 price target.
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Based on Digital Turbine Inc’s latest earnings release for the quarter ending December 31, the company reported a quarterly GAAP net loss of $1.35 million. In comparison, last year the company had a GAAP net loss of $3.8 million.
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Digital Turbine, Inc. delivers end to end products and solutions for mobile operators, application advertisers, device original equipment manufacturers and other third parties to enable them to monetize mobile content and generate user acquisition. It operates through two segments: Advertising and Content.
