Digital Turbine (NASDAQ:APPS) Stock Price Up 7.7% – Here’s What Happened

Digital Turbine, Inc. (NASDAQ:APPS)’s share price rose 7.7% during mid-day trading on Monday . The company traded as high as $9.43 and last traded at $9.7040. Approximately 793,894 shares were traded during trading, a decline of 79% from the average daily volume of 3,808,629 shares. The stock had previously closed at $9.01.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on the stock. Wall Street Zen raised shares of Digital Turbine from a “hold” rating to a “buy” rating in a report on Saturday, May 9th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Digital Turbine in a report on Friday, March 27th. Zacks Research raised shares of Digital Turbine from a “hold” rating to a “strong-buy” rating in a report on Thursday, May 28th. Finally, Bank of America raised Digital Turbine from a “neutral” rating to a “buy” rating and set a $7.50 price objective for the company in a research report on Wednesday, May 27th. One research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and one has assigned a Sell rating to the company. According to MarketBeat.com, Digital Turbine has an average rating of “Moderate Buy” and a consensus price target of $8.75.

Digital Turbine Trading Up 7.0%

The firm has a market capitalization of $1.16 billion, a price-to-earnings ratio of -26.76, a P/E/G ratio of 0.70 and a beta of 2.85. The business has a 50-day moving average of $4.41 and a two-hundred day moving average of $4.53. The company has a quick ratio of 1.16, a current ratio of 1.16 and a debt-to-equity ratio of 1.84.

Digital Turbine (NASDAQ:APPS) last released its earnings results on Tuesday, May 26th. The software maker reported $0.16 earnings per share for the quarter, topping analysts’ consensus estimates of $0.09 by $0.07. Digital Turbine had a positive return on equity of 27.60% and a negative net margin of 6.68%.The business had revenue of $142.55 million for the quarter, compared to the consensus estimate of $133.23 million. Research analysts predict that Digital Turbine, Inc. will post 0.68 EPS for the current fiscal year.

Hedge Funds Weigh In On Digital Turbine

Hedge funds and other institutional investors have recently modified their holdings of the stock. Essential Partners LLC boosted its stake in Digital Turbine by 167.3% in the 1st quarter. Essential Partners LLC now owns 9,031 shares of the software maker’s stock valued at $26,000 after buying an additional 5,652 shares in the last quarter. Quarry LP boosted its stake in Digital Turbine by 1,323.4% in the 4th quarter. Quarry LP now owns 5,594 shares of the software maker’s stock valued at $28,000 after buying an additional 5,201 shares in the last quarter. Verus Capital Partners LLC acquired a new stake in Digital Turbine in the 1st quarter valued at $35,000. Strs Ohio acquired a new stake in Digital Turbine in the 1st quarter valued at $41,000. Finally, Caitong International Asset Management Co. Ltd acquired a new stake in Digital Turbine in the 4th quarter valued at $44,000. Institutional investors 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.