Digital Turbine (NASDAQ:APPS) Stock Price Expected to Rise, Craig Hallum Analyst Says

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 - Free Report) had its target price hoisted by Craig Hallum from $7.00 to $8.00 in a research report sent to investors on Wednesday, Marketbeat Ratings reports. They currently have a buy rating on the software maker's stock.

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

Digital Turbine Trading Down 7.4%

Shares of APPS traded down $0.35 during mid-day trading on Wednesday, reaching $4.35. The company had a trading volume of 4,921,716 shares, compared to its average volume of 4,647,641. Digital Turbine has a fifty-two week low of $1.18 and a fifty-two week high of $7.77. The firm has a fifty day simple moving average of $5.39 and a 200-day simple moving average of $4.20. The stock has a market cap of $471.43 million, a price-to-earnings ratio of -5.65, a price-to-earnings-growth ratio of 2.78 and a beta of 2.57. The company has a current ratio of 1.09, a quick ratio of 1.09 and a debt-to-equity ratio of 2.63.

Digital Turbine (NASDAQ:APPS - Get Free Report) last released its quarterly earnings results on Tuesday, August 5th. The software maker reported $0.05 EPS for the quarter, missing the consensus estimate of $0.10 by ($0.05). Digital Turbine had a positive return on equity of 2.24% and a negative net margin of 15.93%. The company had revenue of $130.93 million for the quarter, compared to analyst estimates of $121.94 million. On average, sell-side analysts anticipate that Digital Turbine will post -0.03 EPS for the current fiscal year.

Hedge Funds Weigh In On Digital Turbine

Hedge funds and other institutional investors have recently modified their holdings of the company. Strs Ohio acquired a new position in Digital Turbine during the 1st quarter valued at about $41,000. Caitong International Asset Management Co. Ltd bought a new stake in shares of Digital Turbine during the first quarter valued at approximately $45,000. Cetera Investment Advisers boosted its position in shares of Digital Turbine by 94.3% during the fourth quarter. Cetera Investment Advisers now owns 27,436 shares of the software maker's stock worth $46,000 after buying an additional 13,317 shares during the period. ProShare Advisors LLC grew its holdings in Digital Turbine by 49.0% in the 4th quarter. ProShare Advisors LLC now owns 27,024 shares of the software maker's stock worth $46,000 after buying an additional 8,892 shares in the last quarter. Finally, Thompson Davis & CO. Inc. acquired a new stake in Digital Turbine in the 1st quarter valued at approximately $47,000. 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.