Shares of Digital Turbine (NASDAQ: APPS) were surging last month after the mobile communication software provider delivered blowout results in its fourth-quarter earnings report. According to data from S&P Global Market Intelligence, the stock finished the month up 44%. As you can see from the chart below, shares jumped on its earnings report, though the stock moderated in the second half of February.
Is (APPS) Outperforming Other Computer and Technology Stocks This Year?
Shares of Digital Turbine (NASDAQ: APPS) popped by 14% today after the company said it would acquire AdColony. AdColony is a mobile ad platform that has 1.5 billion monthly active users worldwide. Digital Turbine has agreed to pay approximately $350 million to $375 million, which consists of $100 million in cash at closing, another $100 million in cash six months after closing, and earn-out payments of $150 million to $175 million contingent upon AdColony achieving certain performance targets in 2021.