On Wednesday, the Relative Strength (RS) Rating for Digital Turbine (APPS), a maker of software for apps on smartphones and other mobile devices, climbed to 74, up from 69 the day before. Digital Turbine stock had a nearly 1,900% run from the Coronavirus recession low to now. It’s been taking a breather lately, moving sideways, perhaps setting up for another run.
The 74 RS Rating means that Digital Turbine stock has outperformed 74% of all stocks over the past year. Stocks that go on to make the biggest gains tend to have an RS Rating above 80 in the early stages of their moves. See if Digital Turbine can continue to show renewed price strength and clear that threshold.
Digital Turbine Stock Rising Amid Acquisitions, Strong Partnerships
The mobile apps software maker lists among its customers Amazon, Yelp, LinkedIn, the BBC, Bank of America, Starbucks and Facebook, to name a few. its stock rose from a 3.48 low in late March 2020 to 69.65 Wednesday afternoon, up more than 6% for the day, amid a market upswing.
Among other key ratings, Digital Turbine stock boasts a 91 IBD Composite Rating, putting it in the top 9% of all stocks for that metric. The Composite Rating helps investors easily measure the quality of a stock’s fundamental and technical metrics. The best growth stocks have a Composite Rating of 90 or better.
The Austin, Texas-based company also carries a B- Accumulation/Distribution Rating, on an A to E scale. The B- rating indicates that institutional buyers are accumulating shares.
Last quarter, Digital Turbine’s earnings climbed 162%. That came after it reported EPS gains of 200%, 320% and 400% the prior three periods. It also reported a 260% leap in revenue last quarter, to $212.6 million. That improved on the 116%, 146% and 142% year-over-year sales gains the prior three quarters.
In late May, Digital Turbine closed its purchase of Fyber N.V., its third recent acquisition, along with Appreciate and AdColony.
Digital Turbine stock has moved more than 5% past a 7.94 entry in a third-stage consolidation, meaning it’s now out of a proper buy zone. Look for the stock to create a new chance to get in like a three-weeks tight or pullback to the 50-day or 10-week moving average.
When looking for the best stocks to buy and watch, one factor to watch closely is relative price strength.
This exclusive rating from Investor’s Business Daily identifies market leadership with a 1 (worst) to 99 (best) score. The rating shows how a stock’s price performance over the last 52 weeks stacks up against all the other stocks in our database.
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