5 Best Adtech Stocks To Buy According To Hedge Funds

In this article, we discuss 5 best adtech stocks to buy according to hedge funds. If you want to see more stocks in this selection, check out 10 Best Adtech Stocks To Buy According To Hedge Funds. 

5. Digital Turbine, Inc. (NASDAQ:APPS)

Number of Hedge Fund Holders: 24

Digital Turbine, Inc. (NASDAQ:APPS) is a Texas-based company that runs a mobile growth platform for advertisers, publishers, carriers, and device original equipment manufacturers. The company operates through three segments – On Device Media, In App Media AdColony, and In App Media Fyber.

On November 10, Craig-Hallum analyst Anthony Stoss maintained a Buy recommendation on Digital Turbine, Inc. (NASDAQ:APPS) but lowered the firm’s price target on the shares to $30 from $60 following better-than-feared Q3 results and guidance. The analyst believes resilient profitability margins make this a stock to own in a weak macro. He also sees home run potential with SingleTap.

According to Insider Monkey’s data, 24 hedge funds were bullish on Digital Turbine, Inc. (NASDAQ:APPS) at the end of September 2022, compared to 27 funds in the prior quarter. Scott Stewart Miller’s Greenhaven Road Investment Management is the largest stakeholder of the company, with 1.15 million shares worth $16.5 million. 

Greenhaven Road Capital made the following comment about Digital Turbine, Inc. (NASDAQ:APPS) in its Q3 2022 investor letter:

“Secondly, with the benefit of hindsight, Digital Turbine, Inc. (NASDAQ:APPS) should have been sized smaller. The combination of the cyclical nature of the advertising business, the execution risk in combining companies, and the fact that too large a portion of 2022 growth was to come from two customers (AT&T and Verizon) created many potential air pockets that have had a negative impact.”