Digital Turbine (NASDAQ:APPS) Raised to "Buy" at Wall Street Zen

Digital Turbine (NASDAQ:APPS - Get Free Report) was upgraded by equities research analysts at Wall Street Zen from a "hold" rating to a "buy" rating in a note issued to investors on Saturday.

Separately, Craig Hallum boosted their price objective on Digital Turbine from $4.00 to $7.00 and gave the company a "buy" rating in a report on Tuesday, June 17th.

Digital Turbine Stock Up 7.4%

APPS traded up $0.38 on Friday, reaching $5.51. The company's stock had a trading volume of 9,780,266 shares, compared to its average volume of 4,959,644. Digital Turbine has a 1 year low of $1.18 and a 1 year high of $7.77. The business's 50 day moving average is $4.30 and its 200 day moving average is $3.36. 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 stock has a market cap of $589.46 million, a price-to-earnings ratio of -6.19 and a beta of 2.58.

Digital Turbine (NASDAQ:APPS - Get Free Report) last released its quarterly earnings results on Monday, June 16th. The software maker reported $0.10 earnings per share for the quarter, topping analysts' consensus estimates of $0.05 by $0.05. Digital Turbine had a negative net margin of 18.61% and a positive return on equity of 1.89%. The business had revenue of $119.15 million during the quarter, compared to the consensus estimate of $116.64 million. During the same quarter last year, the company earned $0.12 earnings per share. As a group, research analysts forecast that Digital Turbine will post -0.03 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of APPS. Fuller & Thaler Asset Management Inc. acquired a new stake in Digital Turbine during the fourth quarter worth about $490,000. Bank of America Corp DE grew its stake in 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 worth $3,427,000 after buying an additional 724,297 shares during the last quarter. JPMorgan Chase & Co. increased its position in Digital Turbine by 39.7% in the fourth quarter. JPMorgan Chase & Co. now owns 541,825 shares of the software maker's stock worth $916,000 after buying an additional 153,991 shares during the period. Marshall Wace LLP acquired a new stake in Digital Turbine in the fourth quarter worth $1,698,000. Finally, Perkins Capital Management Inc. boosted its holdings in shares of Digital Turbine by 79.3% during the fourth quarter. Perkins Capital Management Inc. now owns 387,600 shares of the software maker's stock valued at $655,000 after acquiring an additional 171,400 shares during the period. 63.66% of the stock is currently owned by institutional investors.

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.