Digital Turbine (NASDAQ:APPS) Trading Up 6.5% – Should You Buy?

Digital Turbine, Inc. (NASDAQ:APPS) shares shot up 6.5% on Monday . The stock traded as high as $11.35 and last traded at $11.3490. Approximately 468,750 shares traded hands during mid-day trading, a decline of 88% from the average session volume of 3,943,797 shares. The stock had previously closed at $10.66.

Analysts Set New Price Targets

APPS has been the subject of a number of recent analyst reports. Bank of America raised shares of Digital Turbine from a “neutral” rating to a “buy” rating and set a $7.50 price target for the company in a research note on Wednesday, May 27th. Craig Hallum reissued a “buy” rating and issued a $18.00 price objective on shares of Digital Turbine in a research report on Wednesday, August 5th. Benchmark raised their price objective on shares of Digital Turbine from $15.00 to $16.00 and gave the stock a “buy” rating in a research note on Wednesday, August 5th. Weiss Ratings restated a “sell (e+)” rating on shares of Digital Turbine in a research report on Wednesday, September 2nd. Finally, Roth Capital reaffirmed a “buy” rating and set a $17.50 target price on shares of Digital Turbine in a research note on Thursday, August 6th. Four analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $14.75.

Digital Turbine Stock Performance

The company has a current ratio of 1.20, a quick ratio of 1.20 and a debt-to-equity ratio of 1.80. The company has a market capitalization of $1.48 billion, a PE ratio of -46.88, a PEG ratio of 0.51 and a beta of 2.87. The firm’s 50-day simple moving average is $10.73 and its 200-day simple moving average is $7.69.

Digital Turbine (NASDAQ:APPS) last issued its earnings results on Tuesday, August 4th. The software maker reported $0.19 EPS for the quarter, topping analysts’ consensus estimates of $0.14 by $0.05. The business had revenue of $165.98 million for the quarter, compared to analyst estimates of $149.98 million. Digital Turbine had a negative net margin of 4.46% and a positive return on equity of 38.34%. On average, research analysts predict that Digital Turbine, Inc. will post 0.75 earnings per share for the current year.

Institutional Investors Weigh In On Digital Turbine

Institutional investors and hedge funds have recently bought and sold shares of the company. Granahan Investment Management LLC grew its position in shares of 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 buying an additional 762,888 shares in the last quarter. AIGH Capital Management LLC purchased a new stake in Digital Turbine in the first quarter worth about $14,100,000. Bank of America Corp DE lifted its stake in Digital Turbine by 17.4% in the first 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. Dimensional Fund Advisors LP grew its holdings in 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 worth $6,778,000 after acquiring an additional 846,116 shares in the last quarter. Finally, Manatuck Hill Partners LLC grew its holdings in Digital Turbine by 233.3% during the 4th quarter. Manatuck Hill Partners LLC now owns 2,000,000 shares of the software maker’s stock worth $10,000,000 after acquiring an additional 1,400,000 shares in the last quarter. 63.66% of the stock is owned by institutional investors.

Digital Turbine Company Profile

Digital Turbine, Inc is a mobile advertising and application growth company that provides technology for advertisers, mobile operators, device manufacturers and app publishers. Its platform helps businesses promote, distribute and monetize mobile applications and digital content across smartphones and other connected devices.

The company’s offerings include on-device app discovery and recommendation tools, advertising inventory and exchange services, and technologies that support app installation and user engagement.