Nasdaq listed Digital Turbine, Inc. (APPS), an independent mobile growth and monetization platform, has formed a multi-year strategic partnership with Google (NASDAQ: GOOGL) to accelerate its product and growth strategy and support the Android ecosystem.
Benefits of the Deal
Through this partnership, Digital Turbine aims to drive the discovery of intelligent apps in nearly a billion devices. Working together with Google Cloud premier partner SADA, Digital Turbine will implement Google’s enterprise and cloud solutions to expand worldwide and enhance growth and monetization solutions for its partners.
Official Comments
Digital Turbine CEO Bill Stone said, “For the past 10 years Digital Turbine has helped expand the Android ecosystem with our intelligent app discovery, growth and monetization products supporting many of the leading Android app developers in the market today. We are thrilled to further deepen and expand our partnership with Google.”
“By partnering with Google we are efficiently powering app discovery for nearly a billion Android devices globally while simultaneously expanding our footprint across the Android ecosystem including mobile, TV and connected devices,” Stone added.
Analysts Recommendation
Following the recent partnership, Roth Capital analyst Darren Aftahi maintained a Buy rating and a price target of $90 (44.37% upside potential) on the stock.
Aftahi believes that “the biggest takeaway in this release is Google’s endorsement of APPS’ value proposition. It also marks the fourth relationship (Samsung, TikTok, Telefonica) in which APPS has further embedded itself with key strategic growth partners for greater global scale.”
Consensus among analysts is a Strong Buy based on 5 unanimous Buys. The average Digital Turbine price target of $103.80 implies 66.51% upside potential from current levels. Shares have gained 9.6% over the past year.
Website Traffic
TipRanks’ Website Traffic Tool, which uses data from SEMrush Holdings (NYSE: SEMR), the world’s biggest website usage monitoring service, offers insight into Digital Turbine’s performance this quarter.
According to the tool, the Digital Turbine website recorded a 64.35% decrease in global visits in November compared to the same period last year. Also, a quarter-to-date comparison showed a decrease of 66.5% compared to Q3 2020, and the year-to-date website traffic decline stands at 13.79%.
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