Digital Turbine (NASDAQ:APPS) Trading 10.4% Higher – Still a Buy?

Digital Turbine, Inc. (NASDAQ:APPS) shares shot up 10.4% during mid-day trading on Tuesday . The company traded as high as $5.56 and last traded at $5.67. 2,745,737 shares were traded during trading, a decline of 44% from the average session volume of 4,934,361 shares. The stock had previously closed at $5.13.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on APPS. Wall Street Zen raised shares of Digital Turbine from a “hold” rating to a “buy” rating in a research report on Saturday. Craig Hallum increased their target price on Digital Turbine from $4.00 to $7.00 and gave the stock a “buy” rating in a report on Tuesday, June 17th.

Digital Turbine Trading Up 10.2%

The company has a debt-to-equity ratio of 2.66, a current ratio of 1.09 and a quick ratio of 1.09. The firm’s fifty day moving average is $4.30 and its 200-day moving average is $3.36. The firm has a market cap of $604.97 million, a price-to-earnings ratio of -6.32 and a beta of 2.58.

Digital Turbine (NASDAQ:APPS) last issued its quarterly earnings data on Monday, June 16th. The software maker reported $0.10 EPS for the quarter, topping the consensus estimate of $0.05 by $0.05. The firm had revenue of $119.15 million during the quarter, compared to the consensus estimate of $116.64 million. Digital Turbine had a positive return on equity of 1.89% and a negative net margin of 18.61%. During the same period in the prior year, the business posted $0.12 earnings per share. Equities analysts anticipate that Digital Turbine, Inc. will post -0.03 earnings per share for the current year.

Hedge Funds Weigh In On Digital Turbine

Several hedge funds have recently made changes to their positions in the business. Fuller & Thaler Asset Management Inc. purchased a new stake in shares of Digital Turbine in the fourth quarter worth $490,000. Bank of America Corp DE boosted its position in shares of Digital Turbine by 55.6% during the 4th quarter. Bank of America Corp DE now owns 2,028,022 shares of the software maker’s stock valued at $3,427,000 after acquiring an additional 724,297 shares during the last quarter. JPMorgan Chase & Co. grew its stake in shares of Digital Turbine by 39.7% in the 4th quarter. JPMorgan Chase & Co. now owns 541,825 shares of the software maker’s stock worth $916,000 after buying an additional 153,991 shares in the last quarter. Marshall Wace LLP bought a new stake in shares of Digital Turbine in the 4th quarter valued at approximately $1,698,000. Finally, Perkins Capital Management Inc. lifted its holdings in shares of Digital Turbine by 79.3% in the 4th quarter. Perkins Capital Management Inc. now owns 387,600 shares of the software maker’s stock worth $655,000 after acquiring an additional 171,400 shares during the last quarter. 63.66% of the stock is owned by hedge funds and other institutional investors.

Digital Turbine Company Profile

Digital Turbine, Inc, through its subsidiaries, operates a mobile growth platform for advertisers, publishers, carriers, and device original equipment manufacturers (OEMs). The company operates through two segments, On Device Solutions and App Growth Platform. Its application media platform delivers mobile applications to various publishers, carriers, OEMs, and devices; and content media platform offers news, weather, sports, and other content, as well as programmatic advertising and media content delivery services, and sponsored and editorial content media.