Digital Turbine (NASDAQ:APPS) Stock Rated Outperform in New Coverage at Northland Securities

Key Points

• Northland Securities initiated coverage of Digital Turbine with an “outperform” rating and a $17 price target, implying approximately 71.5% upside from the reported $9.91 share price.
• Analyst sentiment is generally positive: six firms rate the stock a Buy, two rate it Hold and one rates it Sell, producing a “Moderate Buy” consensus rating and an average price target of $15.42.
• Digital Turbine exceeded quarterly expectations, reporting $0.19 in earnings per share versus a $0.14 estimate and $165.98 million in revenue versus a $149.98 million forecast; institutional investors own 63.66% of the stock.

Analysts at Northland Securities began coverage on shares of Digital Turbine (NASDAQ:APPS - Get Free Report) in a research report issued on Thursday, Briefing.com reports. The firm set an "outperform" rating and a $17.00 price target on the software maker's stock. Northland Securities's target price indicates a potential upside of 71.54% from the company's current price.

Several other research firms also recently weighed in on APPS. Roth Capital assumed coverage on Digital Turbine in a research report on Thursday, October 15th. They set a "buy" rating and a $19.00 target price on the stock. Zacks Research downgraded Digital Turbine from a "strong-buy" rating to a "hold" rating in a research report on Monday, July 27th. Benchmark lifted 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. Wall Street Zen upgraded shares of Digital Turbine from a "buy" rating to a "strong-buy" rating in a research report on Saturday, August 29th. Finally, TD Cowen reissued a "hold" rating on shares of Digital Turbine in a research note on Tuesday, September 29th. Six equities 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. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $15.42.

Digital Turbine Stock Down 2.6%

Shares of APPS stock opened at $9.91 on Thursday. The company's fifty day simple moving average is $10.79 and its two-hundred day simple moving average is $7.50. Digital Turbine has a 52 week low of $2.74 and a 52 week high of $15.34. The stock has a market cap of $1.20 billion, a P/E ratio of -38.12, a PEG ratio of 0.47 and a beta of 3.02. The company has a quick ratio of 1.20, a current ratio of 1.20 and a debt-to-equity ratio of 1.80.

Digital Turbine (NASDAQ:APPS - Get Free Report) last released its quarterly earnings results on Tuesday, August 4th. The software maker reported $0.19 earnings per share for the quarter, beating the consensus estimate of $0.14 by $0.05. Digital Turbine had a positive return on equity of 38.34% and a negative net margin of 4.46%. The business had revenue of $165.98 million during the quarter, compared to analysts' expectations of $149.98 million. Analysts predict that Digital Turbine will post 0.68 EPS for the current fiscal year.

Institutional Investors Weigh In On Digital Turbine

Institutional investors and hedge funds have recently modified their holdings of the business. Dimensional Fund Advisors LP increased its stake in Digital Turbine by 56.1% in the 1st quarter. Dimensional Fund Advisors LP now owns 2,353,594 shares of the software maker's stock worth $6,778,000 after buying an additional 846,116 shares during the period. GC Wealth Management RIA LLC lifted its holdings in Digital Turbine by 41.9% during the 1st quarter. GC Wealth Management RIA LLC now owns 576,273 shares of the software maker's stock valued at $1,660,000 after buying an additional 170,134 shares in the last quarter. Granahan Investment Management LLC boosted its position in Digital Turbine by 12.0% in the 1st quarter. Granahan Investment Management LLC now owns 7,112,351 shares of the software maker's stock valued at $20,484,000 after buying an additional 762,888 shares during the period. Globeflex Capital L P purchased a new stake in Digital Turbine in the 1st quarter valued at about $1,227,000. Finally, AIGH Capital Management LLC purchased a new stake in Digital Turbine in the 1st quarter valued at about $14,100,000. 63.66% of the stock is owned by institutional investors.

Digital Turbine Company Profile

Digital Turbine, Inc NASDAQ: APPS is a mobile advertising and application distribution company that helps advertisers, mobile carriers, device manufacturers and application developers connect with smartphone users. Its platform is designed to support the discovery, distribution, promotion and monetization of mobile applications and digital content.

The company provides technology that can be integrated into mobile devices and operating systems, including tools for app recommendations, device setup and application installation.

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