Canaccord Genuity Increases Digital Turbine (NASDAQ:APPS) Price Target to $85.00

Digital Turbine (NASDAQ:APPS) had its price target hoisted by equities research analysts at Canaccord Genuity from $65.00 to $85.00 in a report released on Monday, The Fly reports. The brokerage presently has a “hold” rating on the software maker’s stock. Canaccord Genuity’s price target would suggest a potential upside of 22.43% from the company’s current price.

Other equities analysts have also recently issued reports about the company. B. Riley increased their target price on Digital Turbine from $77.00 to $85.00 and gave the company a “buy” rating in a research note on Thursday, February 4th. Craig Hallum increased their target price on Digital Turbine from $90.00 to $105.00 and gave the company a “buy” rating in a research note on Monday, March 29th. Maxim Group increased their target price on Digital Turbine from $85.00 to $111.00 and gave the company a “buy” rating in a research note on Tuesday, March 30th. Roth Capital raised their price objective on Digital Turbine from $100.00 to $115.00 and gave the stock a “buy” rating in a research note on Monday, March 29th. Finally, Zacks Investment Research cut Digital Turbine from a “buy” rating to a “hold” rating in a research note on Tuesday, April 6th. One investment analyst has rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the company. Digital Turbine has a consensus rating of “Buy” and a consensus price target of $79.69.

Shares of NASDAQ:APPS opened at $69.43 on Monday. The company has a quick ratio of 0.89, a current ratio of 0.89 and a debt-to-equity ratio of 0.18. Digital Turbine has a 52-week low of $5.22 and a 52-week high of $102.56. The company has a 50 day moving average of $78.77 and a two-hundred day moving average of $61.94. The company has a market capitalization of $6.21 billion, a price-to-earnings ratio of 231.44, a price-to-earnings-growth ratio of 2.07 and a beta of 2.42.

Digital Turbine (NASDAQ:APPS) last released its earnings results on Tuesday, February 2nd. The software maker reported $0.21 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.18 by $0.03. The company had revenue of $88.59 million during the quarter, compared to analysts’ expectations of $75.86 million. Digital Turbine had a return on equity of 38.26% and a net margin of 13.38%. The business’s revenue was up 146.0% on a year-over-year basis. During the same period in the prior year, the business posted $0.05 EPS. On average, equities analysts anticipate that Digital Turbine will post 0.54 earnings per share for the current year.

In other Digital Turbine news, CAO David Wesch sold 25,000 shares of the firm’s stock in a transaction on Monday, February 8th. The stock was sold at an average price of $88.23, for a total value of $2,205,750.00. Following the sale, the chief accounting officer now directly owns 25,000 shares in the company, valued at $2,205,750. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 6.20% of the company’s stock.

Hedge funds have recently bought and sold shares of the business. Tsfg LLC bought a new stake in Digital Turbine in the fourth quarter valued at $28,000. Navis Wealth Advisors LLC bought a new stake in Digital Turbine in the fourth quarter valued at $28,000. RMR Wealth Builders acquired a new position in shares of Digital Turbine during the fourth quarter valued at $28,000. Neo Ivy Capital Management acquired a new position in shares of Digital Turbine during the fourth quarter valued at $31,000. Finally, Global Retirement Partners LLC increased its holdings in shares of Digital Turbine by 475.2% during the fourth quarter. Global Retirement Partners LLC now owns 880 shares of the software maker’s stock valued at $50,000 after purchasing an additional 727 shares during the period. Institutional investors own 60.69% of the company’s stock.

About Digital Turbine

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

Featured Article: Find a Trading Strategy That Works

The Fly

Analyst Recommendations for Digital Turbine (NASDAQ:APPS)

Receive News & Ratings for Digital Turbine Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Digital Turbine and related companies with MarketBeat.com's FREE daily email newsletter.