Digital Turbine (NASDAQ:APPS - Get Free Report) was upgraded by analysts at Bank of America from an "underperform" rating to a "neutral" rating in a research report issued to clients and investors on Wednesday, Marketbeat Ratings reports. The firm currently has a $5.50 target price on the software maker's stock, up from their prior target price of $4.50. Bank of America's price target suggests a potential upside of 1.10% from the stock's previous close.
Other equities research analysts also recently issued research reports about the company. Wall Street Zen raised Digital Turbine from a "hold" rating to a "buy" rating in a report on Saturday, June 21st. Craig Hallum lifted their target price on Digital Turbine from $7.00 to $8.00 and gave the stock a "buy" rating in a report on Wednesday.
View Our Latest Report on APPS
Digital Turbine Price Performance
APPS opened at $5.44 on Wednesday. The company has a debt-to-equity ratio of 2.66, a current ratio of 1.09 and a quick ratio of 1.09. The firm has a market capitalization of $587.30 million, a PE ratio of -6.11 and a beta of 2.57. The business's 50-day moving average is $5.40 and its two-hundred day moving average is $4.15. Digital Turbine has a 1 year low of $1.18 and a 1 year high of $7.77.
Digital Turbine (NASDAQ:APPS - Get Free Report) last issued its quarterly earnings results on Tuesday, August 5th. The software maker reported $0.05 earnings per share for the quarter, missing the consensus estimate of $0.10 by ($0.05). The business had revenue of $130.93 million during the quarter, compared to analyst estimates of $121.94 million. Digital Turbine had a positive return on equity of 1.89% and a negative net margin of 18.61%. Research analysts anticipate that Digital Turbine will post -0.03 earnings per share for the current fiscal year.
Institutional Inflows and Outflows
Several institutional investors have recently bought and sold shares of APPS. Strs Ohio purchased a new stake in shares of Digital Turbine in the first quarter valued at approximately $41,000. Caitong International Asset Management Co. Ltd purchased a new stake in shares of Digital Turbine in the first quarter valued at approximately $45,000. Thompson Davis & CO. Inc. purchased a new stake in shares of Digital Turbine in the first quarter valued at approximately $47,000. Hsbc Holdings PLC purchased a new stake in shares of Digital Turbine in the first quarter valued at approximately $51,000. Finally, Greenleaf Trust purchased a new stake in shares of Digital Turbine in the second quarter valued at approximately $115,000. 63.66% of the stock is currently owned by hedge funds and other institutional investors.
Digital Turbine Company Profile
(
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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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