Digital Turbine (NASDAQ:APPS) Raised to “Strong-Buy” at Zacks Research

Digital Turbine (NASDAQ:APPS) was upgraded by stock analysts at Zacks Research from a “hold” rating to a “strong-buy” rating in a research report issued on Thursday,Zacks.com reports.

Several other research analysts have also recently weighed in on the company. Bank of America upgraded Digital Turbine from a “neutral” rating to a “buy” rating and set a $7.50 price target for the company in a research report on Wednesday. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Digital Turbine in a report on Friday, March 27th. Finally, Wall Street Zen upgraded Digital Turbine from a “hold” rating to a “buy” rating in a research report on Saturday, May 9th. One research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $8.75.

Digital Turbine Stock Up 4.5%

Shares of APPS stock opened at $8.78 on Thursday. The stock has a 50 day moving average of $3.82 and a 200 day moving average of $4.41. The company has a current ratio of 1.16, a quick ratio of 1.10 and a debt-to-equity ratio of 1.84. The stock has a market cap of $1.06 billion, a P/E ratio of -24.39, a P/E/G ratio of 0.64 and a beta of 2.40. Digital Turbine has a twelve month low of $2.74 and a twelve month high of $9.26.

Digital Turbine (NASDAQ:APPS) last announced its quarterly earnings results on Tuesday, May 26th. The software maker reported $0.16 earnings per share for the quarter, beating the consensus estimate of $0.09 by $0.07. The company had revenue of $142.55 million during the quarter, compared to analysts’ expectations of $133.23 million. Digital Turbine had a positive return on equity of 27.60% and a negative net margin of 6.68%. As a group, sell-side analysts expect that Digital Turbine will post 0.69 EPS for the current year.

Hedge Funds Weigh In On Digital Turbine

Several hedge funds have recently bought and sold shares of APPS. Essential Partners LLC lifted its stake in Digital Turbine by 167.3% during the 1st quarter. Essential Partners LLC now owns 9,031 shares of the software maker’s stock worth $26,000 after acquiring an additional 5,652 shares in the last quarter. Quarry LP lifted its stake in Digital Turbine by 1,323.4% during the 4th quarter. Quarry LP now owns 5,594 shares of the software maker’s stock worth $28,000 after acquiring an additional 5,201 shares in the last quarter. Verus Capital Partners LLC acquired a new position in Digital Turbine during the 1st quarter worth about $35,000. Strs Ohio acquired a new position in Digital Turbine during the 1st quarter worth about $41,000. Finally, Caitong International Asset Management Co. Ltd acquired a new position in Digital Turbine during the 4th quarter worth about $44,000. Institutional investors and hedge funds own 63.66% of the company’s stock.

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.