Ladenburg Thalmann analyst Jon Hickman upgraded Digital Turbine (APPS) to Buy from Neutral with a price target of $73, up from $31.50.
The stock in premarket trading is up 16% to $74.61 following last night's Q4 results.
Digital Turbine reported "another impressive quarter" with revenue of $88.6M, up 146% year-over-year, Hickman tells investors in a research note. The company continues to benefit from increases in the number of Ignite installed devices, says the analyst.
He believes the addition of Mobile Posse has transformed Digital Turbine into a dominant position in the app discovery space.
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