Digital Turbine, Inc. (NASDAQ:APPS - Get Free Report) shot up 10.4% during trading on Tuesday . The company traded as high as $5.56 and last traded at $5.67. 2,745,737 shares were traded during mid-day trading, a decline of 44% from the average session volume of 4,934,361 shares. The stock had previously closed at $5.13.
Analysts Set New Price Targets
A number of research firms have commented on APPS. Wall Street Zen upgraded Digital Turbine from a "hold" rating to a "buy" rating in a research report on Saturday. Craig Hallum upped their price target on Digital Turbine from $4.00 to $7.00 and gave the company a "buy" rating in a research report on Tuesday, June 17th.
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Digital Turbine Price Performance
The business has a 50 day moving average price of $4.40 and a 200-day moving average price of $3.39. The company has a debt-to-equity ratio of 2.66, a quick ratio of 1.09 and a current ratio of 1.09. The company has a market capitalization of $555.23 million, a price-to-earnings ratio of -5.83 and a beta of 2.58.
Digital Turbine (NASDAQ:APPS - Get Free Report) last issued its quarterly earnings data on Monday, June 16th. The software maker reported $0.10 EPS for the quarter, topping the consensus estimate of $0.05 by $0.05. The firm had revenue of $119.15 million during the quarter, compared to the consensus estimate of $116.64 million. Digital Turbine had a positive return on equity of 1.89% and a negative net margin of 18.61%. During the same period in the prior year, the business posted $0.12 earnings per share. Research analysts predict that Digital Turbine, Inc. will post -0.03 EPS for the current fiscal year.
Hedge Funds Weigh In On Digital Turbine
Several institutional investors and hedge funds have recently bought and sold shares of APPS. Marshall Wace LLP bought a new position in Digital Turbine during the fourth quarter valued at $1,698,000. Segall Bryant & Hamill LLC bought a new position in shares of Digital Turbine in the first quarter worth $2,710,000. Vanguard Group Inc. boosted its holdings in shares of Digital Turbine by 11.2% in the first quarter. Vanguard Group Inc. now owns 8,869,396 shares of the software maker's stock worth $24,080,000 after acquiring an additional 893,035 shares during the period. Greenhaven Road Investment Management L.P. boosted its holdings in shares of Digital Turbine by 467.1% in 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 acquiring an additional 845,051 shares during the period. Finally, Russell Investments Group Ltd. boosted its holdings in shares of Digital Turbine by 29,604.4% in the first quarter. Russell Investments Group Ltd. now owns 821,327 shares of the software maker's stock worth $2,230,000 after acquiring an additional 818,562 shares during the period. 63.66% of the stock is owned by 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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