Digital Turbine (NASDAQ:APPS) Shares Up 10.4% - What's Next?

Digital Turbine, Inc. (NASDAQ:APPS - Get Free Report)'s share price was up 10.4% during trading on Tuesday . The stock traded as high as $5.56 and last traded at $5.67. Approximately 2,745,737 shares changed hands during mid-day trading, a decline of 44% from the average daily volume of 4,934,361 shares. The stock had previously closed at $5.13.

Analyst Ratings Changes

Several brokerages have recently weighed in on APPS. 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 price target on shares of Digital Turbine from $4.00 to $7.00 and gave the stock a "buy" rating in a research note on Tuesday, June 17th.

Digital Turbine Stock Up 9.0%

The company has a market capitalization of $613.53 million, a price-to-earnings ratio of -6.44 and a beta of 2.58. The business has a fifty day simple moving average of $4.45 and a two-hundred day simple moving average of $3.41. The company has a quick ratio of 1.09, 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 quarterly earnings results on Monday, June 16th. The software maker reported $0.10 EPS for the quarter, beating the consensus estimate 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 business had revenue of $119.15 million for the quarter, compared to analyst estimates of $116.64 million. During the same quarter in the previous year, the firm earned $0.12 EPS. Equities analysts expect that Digital Turbine, Inc. will post -0.03 EPS for the current year.

Hedge Funds Weigh In On Digital Turbine

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Strs Ohio bought a new position in shares of Digital Turbine in the first quarter valued at approximately $41,000. Caitong International Asset Management Co. Ltd acquired a new stake in Digital Turbine during the 1st quarter valued at $45,000. SBI Securities Co. Ltd. bought a new position in Digital Turbine in the 4th quarter valued at $28,000. Thompson Davis & CO. Inc. acquired a new position in Digital Turbine in the first quarter worth $47,000. Finally, Hsbc Holdings PLC acquired a new position in Digital Turbine in the first quarter worth $51,000. 63.66% of the stock is currently owned by institutional investors and hedge funds.

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.