Digital Turbine (NASDAQ:APPS) Stock Price Up 5.9% Following Analyst Upgrade

Digital Turbine Inc (NASDAQ:APPS) shares were up 5.9% during trading on Tuesday after Craig Hallum raised their price target on the stock from $12.00 to $15.00. Craig Hallum currently has a buy rating on the stock. Digital Turbine traded as high as $12.71 and last traded at $12.57, approximately 3,139,461 shares changed hands during mid-day trading. An increase of 26% from the average daily volume of 2,492,745 shares. The stock had previously closed at $11.87.

Several other brokerages also recently issued reports on APPS. ValuEngine raised shares of Digital Turbine from a “sell” rating to a “hold” rating in a research note on Thursday, April 2nd. BidaskClub raised shares of Digital Turbine from a “buy” rating to a “strong-buy” rating in a research note on Friday, June 26th. B. Riley raised their price objective on shares of Digital Turbine from $7.00 to $9.50 in a research note on Wednesday, June 3rd. Oppenheimer started coverage on shares of Digital Turbine in a research note on Wednesday, June 24th. They issued an “outperform” rating and a $14.00 price objective for the company. Finally, Roth Capital raised their price objective on shares of Digital Turbine from $9.50 to $13.00 in a research note on Thursday, June 25th. One investment analyst has rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company. The company has an average rating of “Buy” and an average price target of $12.21.

A number of large investors have recently modified their holdings of the stock. Greenhaven Road Investment Management L.P. raised its stake in Digital Turbine by 7.9% in the first quarter. Greenhaven Road Investment Management L.P. now owns 2,607,916 shares of the software maker’s stock worth $11,240,000 after buying an additional 191,774 shares in the last quarter. Granahan Investment Management Inc. MA raised its stake in Digital Turbine by 226.8% in the first quarter. Granahan Investment Management Inc. MA now owns 2,185,781 shares of the software maker’s stock worth $9,421,000 after buying an additional 1,516,973 shares in the last quarter. State Street Corp raised its stake in Digital Turbine by 5.8% in the first quarter. State Street Corp now owns 1,955,369 shares of the software maker’s stock worth $8,428,000 after buying an additional 107,577 shares in the last quarter. Geode Capital Management LLC raised its stake in Digital Turbine by 42.5% in the first quarter. Geode Capital Management LLC now owns 1,384,131 shares of the software maker’s stock worth $5,965,000 after buying an additional 412,747 shares in the last quarter. Finally, Two Sigma Advisers LP raised its stake in Digital Turbine by 118.2% in the first quarter. Two Sigma Advisers LP now owns 1,256,685 shares of the software maker’s stock worth $5,416,000 after buying an additional 680,800 shares in the last quarter. 54.12% of the stock is owned by institutional investors.

The company has a market cap of $1.03 billion, a P/E ratio of 83.80 and a beta of 1.77. The company has a quick ratio of 0.71, a current ratio of 0.71 and a debt-to-equity ratio of 0.24. The business’s 50 day moving average is $8.27 and its 200 day moving average is $6.66.

Digital Turbine (NASDAQ:APPS) last issued its quarterly earnings data on Tuesday, June 2nd. The software maker reported $0.05 EPS for the quarter, topping analysts’ consensus estimates of $0.04 by $0.01. The company had revenue of $39.35 million during the quarter, compared to the consensus estimate of $38.40 million. Digital Turbine had a net margin of 10.02% and a return on equity of 26.09%. As a group, equities research analysts forecast that Digital Turbine Inc will post 0.37 EPS for the current year.

About Digital Turbine (NASDAQ:APPS)

Digital Turbine, Inc, through its subsidiaries, provides media and mobile communication products and solutions for mobile operators, application developers, device original equipment manufacturers (OEMs), and other third parties worldwide. It provides Ignite, a software platform that enables mobile operators and OEMs to control, manage, and monetize devices.

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