Digital Turbine (NASDAQ:APPS) Shares Up 4.6% – Still a Buy?

Digital Turbine, Inc. (NASDAQ:APPS)’s share price was up 4.6% during trading on Friday. The stock traded as high as $7.67 and last traded at $7.6390. Approximately 406,573 shares traded hands during mid-day trading, a decline of 90% from the average session volume of 3,888,746 shares. The stock had previously closed at $7.30.

Wall Street Analyst Weigh In

APPS has been the topic of several recent analyst reports. Weiss Ratings reiterated a “sell (e+)” rating on shares of Digital Turbine in a research report on Wednesday, September 2nd. Benchmark lifted their price target on Digital Turbine from $15.00 to $16.00 and gave the company a “buy” rating in a report on Wednesday, August 5th. Northland Securities began coverage on Digital Turbine in a report on Thursday, October 29th. They issued an “outperform” rating and a $17.00 price target for the company. TD Cowen reaffirmed a “hold” rating on shares of Digital Turbine in a research note on Tuesday, September 29th. Finally, Royal Bank Of Canada began coverage on shares of Digital Turbine in a report on Thursday, October 1st. They set an “outperform” rating and a $15.00 price objective on the stock. Six research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $15.42.

Digital Turbine Trading Up 4.2%

The business has a fifty day moving average price of $10.36 and a 200 day moving average price of $7.72. The company has a market capitalization of $927.62 million, a PE ratio of 12.93, a P/E/G ratio of 0.37 and a beta of 3.01. The company has a debt-to-equity ratio of 1.75, a quick ratio of 1.20 and a current ratio of 1.25.

Digital Turbine (NASDAQ:APPS) last released its quarterly earnings data on Monday, November 9th. The software maker reported $0.18 earnings per share for the quarter, beating the consensus estimate of $0.17 by $0.01. Digital Turbine had a return on equity of 41.27% and a net margin of 0.77%. The business had revenue of $178.68 million for the quarter, compared to analyst estimates of $166.75 million. Analysts expect that Digital Turbine, Inc. will post 0.63 EPS for the current fiscal year.

Institutional Investors Weigh In On Digital Turbine

Several institutional investors have recently bought and sold shares of the business. Dimensional Fund Advisors LP raised its holdings in shares of Digital Turbine by 56.1% during the 1st quarter. Dimensional Fund Advisors LP now owns 2,353,594 shares of the software maker’s stock valued at $6,778,000 after buying an additional 846,116 shares during the period. Granahan Investment Management LLC lifted its position in Digital Turbine by 12.0% during the 1st quarter. Granahan Investment Management LLC now owns 7,112,351 shares of the software maker’s stock worth $20,484,000 after acquiring an additional 762,888 shares in the last quarter. Bank of America Corp DE boosted its holdings in Digital Turbine by 17.4% in the 1st quarter. Bank of America Corp DE now owns 3,619,171 shares of the software maker’s stock worth $10,423,000 after acquiring an additional 535,169 shares during the period. Segall Bryant & Hamill LLC purchased a new position in Digital Turbine in the 1st quarter worth approximately $1,283,000. Finally, Globeflex Capital L P purchased a new position in Digital Turbine in the 1st quarter worth approximately $1,227,000. 63.66% of the stock is currently owned by hedge funds and other institutional investors.

Digital Turbine Company Profile

Digital Turbine, Inc. provides mobile technology and advertising solutions that connect app developers and advertisers with consumers through smartphones and other connected devices. Its platform supports app discovery, user acquisition, and advertising across the mobile ecosystem. The company’s services include on-device app recommendations and installation tools, as well as advertising solutions for app publishers and brands. Digital Turbine works with mobile operators and device manufacturers to deliver these services to users.