In a report released yesterday, Sameet Sinha from B.Riley FBR maintained a Buy rating on Digital Turbine Inc (NASDAQ: APPS), with a price target of $2.30. The company’s shares opened today at $1.65.
Sinha wrote:
“Digital Turbine (APPS) is scheduled to hold its inaugural investor summit in NYC on June 21. We expect the event to showcase the improved product portfolio, the growing ecosystem, and new initiatives. APPS will have several partners during the event to provide context on their increasing use of APPS’ products, which will be critical to investor acceptance of APPS’ growing role and presence in the App monetization ecosystem. We do not expect any updates on the Verizon contract, which is still being negotiated. In the absence of final terms of this contract, we do not expect management to spend much time on providing a LT financial model though could provide some insight into P&L structure, which will emphasize GP and AEBITDA. Our $2.30 PT is based on a multiple of 5x CY19 gross profit, in line with high growth comps.”
According to TipRanks.com, Sinha is a 4-star analyst with an average return of 7.0% and a 56.7% success rate. Sinha covers the Technology sector, focusing on stocks such as Limelight Networks, Alphabet Inc, and Cars com Inc.
Currently, the analyst consensus on Digital Turbine Inc is Moderate Buy and the average price target is $2.90, representing a 75.8% upside.
In a report issued on June 8, National Securities Corp also maintained a Buy rating on the stock with a $3.50 price target.
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The company has a one-year high of $2.59 and a one-year low of $0.99. Currently, Digital Turbine Inc has an average volume of 797.7K.
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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.
