Craig Hallum Issues Positive Forecast for Digital Turbine (NASDAQ:APPS) Stock Price

Digital Turbine (NASDAQ:APPS - Get Free Report) had its price target raised by analysts at Craig Hallum from $4.00 to $7.00 in a research report issued on Tuesday,Benzinga reports. The firm currently has a "buy" rating on the software maker's stock. Craig Hallum's price target would suggest a potential upside of 3.86% from the stock's previous close.

Separately, Wall Street Zen downgraded shares of Digital Turbine from a "hold" rating to a "sell" rating in a research note on Monday, March 24th.

Digital Turbine Stock Down 10.6%

APPS stock traded down $0.80 during trading hours on Tuesday, hitting $6.74. The company's stock had a trading volume of 26,426,523 shares, compared to its average volume of 4,864,965. The company has a market capitalization of $721.05 million, a PE ratio of -7.57 and a beta of 2.58. Digital Turbine has a 12 month low of $1.18 and a 12 month high of $7.95. The stock has a 50 day moving average price of $4.11 and a two-hundred day moving average price of $3.24. The company has a quick ratio of 1.06, a current ratio of 1.09 and a debt-to-equity ratio of 2.66.

Digital Turbine (NASDAQ:APPS - Get Free Report) last announced its earnings results on Monday, June 16th. The software maker reported $0.10 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.05 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 $119.15 million during the quarter, compared to analysts' expectations of $116.64 million. During the same quarter in the prior year, the business earned $0.12 earnings per share. On average, equities research analysts expect that Digital Turbine will post -0.03 earnings per share for the current year.

Institutional Investors Weigh In On Digital Turbine

A number of institutional investors have recently bought and sold shares of APPS. Vanguard Group Inc. lifted its position in shares of Digital Turbine by 11.2% during the 1st quarter. Vanguard Group Inc. now owns 8,869,396 shares of the software maker's stock worth $24,080,000 after buying an additional 893,035 shares during the period. Two Sigma Investments LP lifted its position in Digital Turbine by 19.1% during the 4th quarter. Two Sigma Investments LP now owns 2,105,953 shares of the software maker's stock valued at $3,559,000 after purchasing an additional 337,959 shares during the period. Bank of America Corp DE lifted its holdings in Digital Turbine by 55.6% in the fourth quarter. Bank of America Corp DE now owns 2,028,022 shares of the software maker's stock valued at $3,427,000 after buying an additional 724,297 shares during the period. Two Sigma Advisers LP boosted its position in shares of Digital Turbine by 0.4% in the 4th quarter. Two Sigma Advisers LP now owns 1,641,974 shares of the software maker's stock worth $2,775,000 after purchasing an additional 7,100 shares during the last quarter. Finally, Greenhaven Road Investment Management L.P. boosted its holdings in Digital Turbine by 467.1% during the first quarter. Greenhaven Road Investment Management L.P. now owns 1,025,951 shares of the software maker's stock worth $2,785,000 after buying an additional 845,051 shares during the last quarter. Institutional investors and hedge funds own 63.66% of the company's stock.

Digital Turbine Company Profile

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.