Why Digital Turbine's Stock Is Trading Higher Today

Digital Turbine Inc 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 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:

• Canaccord Genuity analyst Austin Moldow upgraded Digital Turbine from Hold to Buy.
• 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.