Digital Turbine, Inc. (NASDAQ:APPS) Receives Average Recommendation of "Moderate Buy" from Analysts

Key Points

• Analysts maintain a “Moderate Buy” consensus on Digital Turbine, with five buys, two holds and one sell among eight analysts. The average 12-month price target is $14.80, above the reported share price of $11.17.
• Recent analyst actions were mixed: Benchmark raised its price target to $16, Royal Bank of Canada initiated coverage with an “outperform” rating and a $15 target, while TD Cowen reiterated “hold” and Zacks Research downgraded the stock to “hold.”
• Digital Turbine exceeded quarterly expectations, reporting $0.19 in EPS versus a $0.14 estimate and $165.98 million in revenue versus a $149.98 million consensus. Institutional investors own 63.66% of the company, and several hedge funds increased their positions.

Digital Turbine, Inc. (NASDAQ:APPS - Get Free Report) has been given a consensus recommendation of "Moderate Buy" by the eight brokerages that are presently covering the stock, MarketBeat.com reports. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and five have issued a buy rating on the company. The average 1 year target price among analysts that have issued a report on the stock in the last year is $14.80.

APPS has been the topic of several research reports. TD Cowen restated a "hold" rating on shares of Digital Turbine in a research report on Tuesday. Wall Street Zen raised Digital Turbine from a "buy" rating to a "strong-buy" rating in a research note on Saturday, August 29th. Zacks Research lowered shares of Digital Turbine from a "strong-buy" rating to a "hold" rating in a research report on Monday, July 27th. Benchmark increased their price objective on shares of Digital Turbine from $15.00 to $16.00 and gave the company a "buy" rating in a research note on Wednesday, August 5th. Finally, Royal Bank Of Canada assumed coverage on shares of Digital Turbine in a research note on Thursday. They issued an "outperform" rating and a $15.00 price objective on the stock.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the business. WINTON GROUP Ltd raised its position in shares of Digital Turbine by 178.7% during the 2nd quarter. WINTON GROUP Ltd now owns 121,796 shares of the software maker's stock worth $1,571,000 after purchasing an additional 78,096 shares during the last quarter. Integrated Wealth Concepts LLC acquired a new stake in Digital Turbine during the 2nd quarter valued at $56,000. Allworth Financial LP grew its holdings in Digital Turbine by 42.4% during the 2nd quarter. Allworth Financial LP now owns 5,698 shares of the software maker's stock valued at $74,000 after buying an additional 1,696 shares during the last quarter. AXQ Capital LP grew its holdings in Digital Turbine by 81.0% during the 2nd quarter. AXQ Capital LP now owns 43,339 shares of the software maker's stock valued at $559,000 after buying an additional 19,392 shares during the last quarter. Finally, Headlands Technologies LLC purchased a new position in Digital Turbine during the second quarter worth $1,282,000. 63.66% of the stock is owned by hedge funds and other institutional investors.

Digital Turbine Price Performance

Shares of NASDAQ:APPS opened at $11.17 on Friday. The firm has a market capitalization of $1.35 billion, a price-to-earnings ratio of -42.96, a price-to-earnings-growth ratio of 0.48 and a beta of 3.02. The company has a debt-to-equity ratio of 1.80, a current ratio of 1.20 and a quick ratio of 1.20. The business's 50 day simple moving average is $11.15 and its 200-day simple moving average is $8.08. 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 released its quarterly earnings data 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. The firm had revenue of $165.98 million during the quarter, compared to the consensus estimate of $149.98 million. Digital Turbine had a positive return on equity of 38.34% and a negative net margin of 4.46%. As a group, equities analysts forecast that Digital Turbine will post 0.75 earnings per share for the current fiscal year.

About Digital Turbine

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.