Digital Turbine plunges despite revenue outlook increase; BofA upgrades stock
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Digital Turbine (NASDAQ:APPS) saw a 15% drop in early trading despite a positive revenue outlook, with Bank of America upgrading the stock from Underperform to Neutral. The company reported an 11% year-over-year revenue growth, exceeding BofA's expectations. Analysts noted significant improvements in user targeting and pricing. BofA raised its price target to $5.50, citing concerns over APPS' valuation compared to peers. Digital Turbine also filed a mixed securities shelf. Mixed reactions were observed among peers, with AppLovin up 2% and Unity Software down 3%.
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