Craig Hallum Increases Digital Turbine (NASDAQ:APPS) Price Target to $8.00

Key Points

• Craig Hallum has raised its price target for Digital Turbine (NASDAQ:APPS) from $7.00 to $8.00, suggesting a potential upside of 47.06% based on the stock's previous close.
• In addition to this upgrade, Wall Street Zen has also changed its rating on Digital Turbine from "hold" to "buy."
• Digital Turbine reported $0.05 EPS for the last quarter, falling short of analysts' expectations of $0.10 EPS, despite achieving $130.93 million in revenue.

Digital Turbine (NASDAQ:APPS - Get Free Report) had its target price upped by equities researchers at Craig Hallum from $7.00 to $8.00 in a research report issued to clients and investors on Wednesday. The brokerage currently has a "buy" rating on the software maker's stock. Craig Hallum's target price would indicate a potential upside of 47.06% from the stock's previous close.

Separately, Wall Street Zen raised shares of Digital Turbine from a "hold" rating to a "buy" rating in a research note on Saturday, June 21st.

Digital Turbine Trading Down 4.4%

Digital Turbine stock opened at $5.44 on Wednesday. The company has a 50 day moving average price of $5.40 and a 200 day moving average price of $4.15. Digital Turbine has a 52 week low of $1.18 and a 52 week high of $7.77. The company has a debt-to-equity ratio of 2.66, a quick ratio of 1.09 and a current ratio of 1.09. The firm has a market capitalization of $587.30 million, a price-to-earnings ratio of -6.11 and a beta of 2.57.

Digital Turbine (NASDAQ:APPS - Get Free Report) last posted its quarterly earnings data on Tuesday, August 5th. The software maker reported $0.05 EPS for the quarter, missing analysts' consensus estimates of $0.10 by ($0.05). Digital Turbine had a positive return on equity of 1.89% and a negative net margin of 18.61%. The firm had revenue of $130.93 million during the quarter, compared to analyst estimates of $121.94 million. Research analysts forecast that Digital Turbine will post -0.03 EPS for the current year.

Institutional Investors Weigh In On Digital Turbine

Institutional investors have recently modified their holdings of the stock. Fuller & Thaler Asset Management Inc. acquired a new stake in shares of Digital Turbine during the 4th quarter valued at $490,000. P.A.W. Capital Corp raised its holdings in shares of Digital Turbine by 175.0% during the 1st quarter. P.A.W. Capital Corp now owns 550,000 shares of the software maker's stock valued at $1,493,000 after purchasing an additional 350,000 shares in the last quarter. Bank of America Corp DE raised its holdings in shares of Digital Turbine by 55.6% during the 4th quarter. Bank of America Corp DE now owns 2,028,022 shares of the software maker's stock valued at $3,427,000 after purchasing an additional 724,297 shares in the last quarter. JPMorgan Chase & Co. raised its holdings in shares of Digital Turbine by 39.7% during the 4th quarter. JPMorgan Chase & Co. now owns 541,825 shares of the software maker's stock valued at $916,000 after purchasing an additional 153,991 shares in the last quarter. Finally, AIGH Capital Management LLC bought a new position in shares of Digital Turbine during the 1st quarter valued at $1,170,000. Institutional investors and hedge funds own 63.66% of the company's stock.

About Digital Turbine

Digital Turbine, Inc, through its subsidiaries, operates a mobile growth platform for advertisers, publishers, carriers, and device original equipment manufacturers (OEMs). The company operates through two segments, On Device Solutions and App Growth Platform. Its application media platform delivers mobile applications to various publishers, carriers, OEMs, and devices; and content media platform offers news, weather, sports, and other content, as well as programmatic advertising and media content delivery services, and sponsored and editorial content media.

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