Digital Turbine Inc (NASDAQ: APPS) is trading higher Tuesday after it was announced the company is set to join the S&P MidCap 400.
Digital Turbine will replace Ligand Pharmaceuticals Inc (NASDAQ: LGND) in the S&P MidCap 400.
The changes are set to take effect prior to the opening of trading on Sept. 7.
Digital Turbine is engaged in media and mobile communications, delivering end-to-end products and solutions for mobile operators, application advertisers, device original equipment manufacturers and other third parties to enable them to effectively monetize mobile content.
Analyst Assessment: Canaccord Genuity and Macquarie weighed in on the stock this morning:
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Canaccord Genuity analyst Austin Moldow upgraded Digital Turbine from Hold to Buy.
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Macquarie analyst Tim Nollen initiated coverage on Digital Turbine with a Neutral rating and announced a price target of $60.
APPS Price Action: Digital Turbine has traded as high as $102.55 and as low as $20.60 over a 52-week period.
The stock was up 17.70% at $60.31 at time of publication.
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