Digital Turbine (NASDAQ:APPS) Shares Gap Up Following Better-Than-Expected Earnings

Shares of Digital Turbine, Inc. (NASDAQ:APPS) gapped up prior to trading on Wednesday following a stronger than expected earnings report. The stock had previously closed at $4.94, but opened at $5.90. Digital Turbine shares last traded at $5.6410, with a volume of 4,295,677 shares changing hands.

The software maker reported $0.18 earnings per share for the quarter, topping the consensus estimate of $0.16 by $0.02. Digital Turbine had a positive return on equity of 12.12% and a negative net margin of 14.59%.The firm had revenue of $151.40 million for the quarter, compared to analysts’ expectations of $145.72 million.

Analysts Set New Price Targets

APPS has been the topic of a number of research reports. Wall Street Zen lowered Digital Turbine from a “buy” rating to a “hold” rating in a research report on Saturday, January 17th. Weiss Ratings restated a “sell (d-)” rating on shares of Digital Turbine in a report on Monday, December 29th. Zacks Research downgraded Digital Turbine from a “strong-buy” rating to a “hold” rating in a research note on Monday, January 5th. Finally, Craig Hallum reiterated a “buy” rating and issued a $10.00 target price on shares of Digital Turbine in a report on Wednesday, November 5th. One research analyst has rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $7.75.

Institutional Trading of Digital Turbine

A number of large investors have recently modified their holdings of APPS. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in Digital Turbine by 4.4% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 57,539 shares of the software maker’s stock valued at $156,000 after purchasing an additional 2,449 shares in the last quarter. Goldman Sachs Group Inc. lifted its stake in Digital Turbine by 74.8% during the first quarter. Goldman Sachs Group Inc. now owns 1,021,687 shares of the software maker’s stock worth $2,774,000 after purchasing an additional 437,310 shares during the last quarter. Strs Ohio bought a new position in shares of Digital Turbine during the 1st quarter valued at about $41,000. Allspring Global Investments Holdings LLC purchased a new position in shares of Digital Turbine during the second quarter worth approximately $1,128,000. Finally, Versor Investments LP bought a new position in shares of Digital Turbine in the second quarter worth approximately $333,000. Institutional investors own 63.66% of the company’s stock.

Digital Turbine Trading Up 8.5%

The stock has a market capitalization of $601.12 million, a P/E ratio of -7.13, a P/E/G ratio of 1.49 and a beta of 2.26. The firm’s 50 day moving average price is $5.08 and its 200 day moving average price is $5.25. The company has a debt-to-equity ratio of 2.66, a current ratio of 1.10 and a quick ratio of 1.10.

Digital Turbine Company Profile

Digital Turbine, Inc (NASDAQ: APPS) is a mobile technology company that streamlines content delivery and app advertising across connected devices. Its platform enables carriers, OEMs, app developers and advertisers to engage users through personalized app recommendations, in-app promotions and turnkey monetization solutions. By integrating software directly on smartphones and tablets, Digital Turbine simplifies the user journey from discovery to installation without requiring additional downloads or redirects through traditional app stores.

The company’s flagship Ignite Platform offers end-to-end campaign management, combining demand-side advertising, real-time analytics and automated content fulfillment.