Digital Turbine (NASDAQ:APPS) Hits New 1-Year High at $13.99

Shares of Digital Turbine Inc (NASDAQ:APPS) hit a new 52-week high during trading on Monday . The stock traded as high as $13.99 and last traded at $13.40, with a volume of 6161 shares. The stock had previously closed at $13.22.

Several analysts have weighed in on the stock. Canaccord Genuity lifted their price objective on shares of Digital Turbine from $11.00 to $12.00 and gave the stock a “buy” rating in a research note on Wednesday, June 3rd. LADENBURG THALM/SH SH cut shares of Digital Turbine from a “buy” rating to a “neutral” rating and set a $12.25 price objective for the company. in a research note on Tuesday, July 7th. They noted that the move was a valuation call. B. Riley lifted their price objective on shares of Digital Turbine from $7.00 to $9.50 in a research note on Wednesday, June 3rd. TheStreet upgraded shares of Digital Turbine from a “c” rating to a “b-” rating in a research note on Thursday, June 4th. Finally, Oppenheimer assumed 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. Two research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus price target of $12.22.

The firm’s 50-day moving average price is $9.72 and its 200 day moving average price is $6.92. The company has a market capitalization of $1.15 billion, a price-to-earnings ratio of 87.80 and a beta of 1.79. The company has a current ratio of 0.71, a quick ratio of 0.71 and a debt-to-equity ratio of 0.24.

Digital Turbine (NASDAQ:APPS) last issued its earnings results on Tuesday, June 2nd. The software maker reported $0.05 EPS for the quarter, beating the consensus estimate of $0.04 by $0.01. The company had revenue of $39.35 million during the quarter, compared to analysts’ expectations 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 anticipate that Digital Turbine Inc will post 0.36 earnings per share for the current fiscal year.

A number of hedge funds have recently added to or reduced their stakes in APPS. Granahan Investment Management Inc. MA increased its position in Digital Turbine by 226.8% during the 1st quarter. Granahan Investment Management Inc. MA now owns 2,185,781 shares of the software maker’s stock worth $9,421,000 after purchasing an additional 1,516,973 shares in the last quarter. Mak Capital One LLC acquired a new position in Digital Turbine during the 1st quarter worth approximately $4,830,000. Two Sigma Advisers LP increased its position in Digital Turbine by 118.2% during the 1st quarter. Two Sigma Advisers LP now owns 1,256,685 shares of the software maker’s stock worth $5,416,000 after purchasing an additional 680,800 shares in the last quarter. Man Group plc increased its position in Digital Turbine by 753.6% during the 4th quarter. Man Group plc now owns 718,735 shares of the software maker’s stock worth $5,125,000 after purchasing an additional 634,535 shares in the last quarter. Finally, Russell Investments Group Ltd. increased its position in Digital Turbine by 177.6% during the 1st quarter. Russell Investments Group Ltd. now owns 774,700 shares of the software maker’s stock worth $3,335,000 after purchasing an additional 495,605 shares in the last quarter. Institutional investors and hedge funds own 53.57% of the company’s stock.

Digital Turbine Company Profile (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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