Digital Turbine (NASDAQ:APPS) Stock Rating Upgraded by Roth Capital

Key Points

• Roth Capital upgraded Digital Turbine to “strong buy,” while analysts’ consensus remains “moderate buy” with an average price target of $15.10.
• Digital Turbine reported quarterly EPS of $0.19, beating estimates of $0.14, and revenue of $165.98 million versus expectations of $149.98 million.
• Shares traded up 10.7% to $10.54, while institutional investors and hedge funds owned approximately 63.66% of the company’s stock.

Digital Turbine (NASDAQ:APPS - Get Free Report) was upgraded by equities research analysts at Roth Capital to a "strong-buy" rating in a research note issued on Thursday, Zacks reports.

APPS has been the subject of several other reports. Zacks Research cut shares of Digital Turbine from a "strong-buy" rating to a "hold" rating in a research note on Monday, July 27th. Royal Bank Of Canada began coverage on Digital Turbine in a report on Thursday, October 1st. They issued an "outperform" rating and a $15.00 price objective on the stock. Craig Hallum restated a "buy" rating and set a $18.00 price target on shares of Digital Turbine in a research report on Wednesday, August 5th. Benchmark upped their price objective on shares of Digital Turbine from $15.00 to $16.00 and gave the company a "buy" rating in a report on Wednesday, August 5th. Finally, Wall Street Zen raised shares of Digital Turbine from a "buy" rating to a "strong-buy" rating in a research report on Saturday, August 29th. One research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, two have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $15.10.

Digital Turbine Trading Up 10.7%

NASDAQ APPS opened at $10.54 on Thursday. The stock has a market cap of $1.28 billion, a P/E ratio of 17.00, a P/E/G ratio of 0.41 and a beta of 3.02. 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 fifty day simple moving average of $11.29 and a two-hundred day simple moving average of $8.58. Digital Turbine has a 12-month low of $2.74 and a 12-month high of $15.34.

Digital Turbine (NASDAQ:APPS - Get Free Report) last announced its quarterly earnings data on Tuesday, August 4th. The software maker reported $0.19 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.14 by $0.05. The firm had revenue of $165.98 million during the quarter, compared to analysts' expectations of $149.98 million. Digital Turbine had a positive return on equity of 38.34% and a negative net margin of 4.46%. On average, analysts forecast that Digital Turbine will post 0.75 earnings per share for the current year.

Hedge Funds Weigh In On Digital Turbine

Several institutional investors have recently bought and sold shares of APPS. Dimensional Fund Advisors LP lifted 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 buying an additional 846,116 shares in the last quarter. GC Wealth Management RIA LLC boosted its position in Digital Turbine by 41.9% in 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 during the period. 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 acquired a new position in shares of Digital Turbine in the first quarter worth $1,227,000. Finally, AIGH Capital Management LLC acquired a new position in shares of Digital Turbine in the first quarter worth $14,100,000. 63.66% of the stock is owned by institutional investors and hedge funds.

Digital Turbine Company Profile

Digital Turbine, Inc is a mobile advertising and application-growth company that helps advertisers, app developers, wireless carriers and device manufacturers connect with mobile users. Its platform supports the distribution, promotion and monetization of applications across smartphones and other connected devices.

The company's products and services include on-device app discovery and recommendation tools, app-install solutions, mobile advertising formats, audience-targeting capabilities and programmatic advertising technology.

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