Digital Turbine rallied on Meta’s European plans, says B. Riley

B. Riley analyst Daniel Day attributes the rally Friday in shares of Shares of Digital Turbine (APPS) to a potential positive read-through for its SingleTap licensing efforts related to a Verge article published Thursday evening speculating that Meta Platforms (META) has plans in place to allow European Android users to download apps through Facebook ads. If the description of Meta’s plans in the article is accurate, it is a reasonable conclusion that the company would require SingleTap to incorporate this app install functionality into the Facebook/Instagram apps, the analyst tells investors in a research note. Additional evidence indicating that a SingleTap licensing deal with Meta is potentially in the works is that the article states Meta’s initial plans are to specifically target Android devices rather than iPhones, and SingleTap functionality is only available on Android devices, says Riley. Nonetheless, the firm remains Neutral on Digital Turbine, saying it is unclear if awnings expectations have bottomed in the near term.