Digital Turbine Inc (NASDAQ:APPS) Receives Consensus Rating of “Buy” from Analysts

Shares of Digital Turbine Inc (NASDAQ:APPS) have been given a consensus recommendation of “Buy” by the nine ratings firms that are covering the firm, Marketbeat Ratings reports. Two analysts have rated the stock with a sell rating, six have assigned a buy rating and one has given a strong buy rating to the company. The average twelve-month price objective among brokerages that have issued ratings on the stock in the last year is $7.93.

APPS has been the subject of a number of research analyst reports. Canaccord Genuity reaffirmed a “buy” rating on shares of Digital Turbine in a report on Tuesday. National Securities started coverage on Digital Turbine in a report on Tuesday, December 17th. They issued a “buy” rating and a $11.00 price objective for the company. BidaskClub cut Digital Turbine from a “hold” rating to a “sell” rating in a research note on Friday, February 7th. Zacks Investment Research upgraded Digital Turbine from a “hold” rating to a “strong-buy” rating and set a $7.75 price target for the company in a research note on Wednesday, November 6th. Finally, ValuEngine cut Digital Turbine from a “hold” rating to a “sell” rating in a research report on Tuesday, February 4th.

APPS traded down $0.25 on Friday, hitting $6.77. The company had a trading volume of 2,992,120 shares, compared to its average volume of 2,257,813. The firm has a market cap of $554.36 million, a P/E ratio of -75.21 and a beta of 1.57. Digital Turbine has a 1 year low of $2.65 and a 1 year high of $9.13. The company’s fifty day moving average price is $7.02 and its 200 day moving average price is $7.08.

Digital Turbine (NASDAQ:APPS) last issued its quarterly earnings data on Monday, February 10th. The software maker reported $0.04 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.05 by ($0.01). The company had revenue of $36.02 million during the quarter, compared to analysts’ expectations of $37.58 million. Digital Turbine had a negative net margin of 5.35% and a positive return on equity of 30.89%. On average, equities research analysts predict that Digital Turbine will post 0.17 EPS for the current year.

In other Digital Turbine news, CEO William Gordon Stone III purchased 12,500 shares of Digital Turbine stock in a transaction that occurred on Thursday, February 13th. The stock was acquired at an average price of $7.02 per share, for a total transaction of $87,750.00. 5.80% of the stock is owned by company insiders.

Large investors have recently modified their holdings of the company. BlackRock Inc. raised its holdings in shares of Digital Turbine by 298.8% during the second quarter. BlackRock Inc. now owns 5,105,929 shares of the software maker’s stock valued at $25,529,000 after purchasing an additional 3,825,466 shares during the period. Vanguard Group Inc. increased its stake in Digital Turbine by 35.9% in the 2nd quarter. Vanguard Group Inc. now owns 3,560,468 shares of the software maker’s stock valued at $17,802,000 after buying an additional 940,198 shares during the last quarter. State Street Corp increased its stake in Digital Turbine by 7.1% in the 4th quarter. State Street Corp now owns 1,847,792 shares of the software maker’s stock valued at $13,175,000 after buying an additional 123,004 shares during the last quarter. Driehaus Capital Management LLC increased its stake in Digital Turbine by 27.0% in the 4th quarter. Driehaus Capital Management LLC now owns 1,146,781 shares of the software maker’s stock valued at $8,177,000 after buying an additional 243,863 shares during the last quarter. Finally, Cooper Creek Partners Management LLC increased its stake in Digital Turbine by 38.8% in the 4th quarter. Cooper Creek Partners Management LLC now owns 763,680 shares of the software maker’s stock valued at $5,445,000 after buying an additional 213,607 shares during the last quarter. Institutional investors own 39.70% of the company’s stock.

Digital Turbine Company Profile

Digital Turbine, Inc, through its subsidiaries, provides media and mobile communication solutions for mobile operators, application developers, device original equipment manufacturers, and other third parties worldwide. The company offers Ignite, a mobile application management software to control, manage, and monetize the applications that are installed on mobile devices and professional services directly related to the ignite platform.

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Analyst Recommendations for Digital Turbine (NASDAQ:APPS)

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