Digital Turbine (NASDAQ:APPS) Trading 9.1% Higher - What's Next?

Key Points

• Digital Turbine experienced a share price increase of 9.1%, trading at $7.16, but saw a significant decline in trading volume compared to its average.
• Several analysts recently revised their ratings, with Bank of America upgrading the stock to a "neutral" rating, while others maintained a cautious outlook, resulting in an overall consensus rating of "Hold."
• The company reported a revenue of $130.93 million for the last quarter, exceeding analyst estimates, although it missed earnings expectations with an EPS of $0.05.

Digital Turbine, Inc. (NASDAQ:APPS - Get Free Report)'s share price traded up 9.1% during mid-day trading on Wednesday . The company traded as high as $7.17 and last traded at $7.16. 530,063 shares were traded during mid-day trading, a decline of 90% from the average session volume of 5,285,527 shares. The stock had previously closed at $6.56.

Wall Street Analyst Weigh In

APPS has been the subject of a number of recent research reports. Bank of America raised shares of Digital Turbine from an "underperform" rating to a "neutral" rating and boosted their price objective for the company from $4.50 to $5.50 in a research report on Wednesday, August 6th. Wall Street Zen lowered shares of Digital Turbine from a "buy" rating to a "hold" rating in a research note on Saturday, August 9th. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Digital Turbine in a research note on Wednesday, October 8th. Finally, Craig Hallum upped their price target on shares of Digital Turbine from $7.00 to $8.00 and gave the stock a "buy" rating in a research note on Wednesday, August 6th. One equities research analyst has rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock has an average rating of "Hold" and a consensus target price of $5.17.

Digital Turbine Trading Up 5.2%

The company's 50 day simple moving average is $5.03 and its two-hundred day simple moving average is $4.65. The stock has a market cap of $747.61 million, a price-to-earnings ratio of -9.02, a price-to-earnings-growth ratio of 4.09 and a beta of 2.57. The company has a debt-to-equity ratio of 2.63, a quick ratio of 1.09 and a current ratio of 1.09.

Digital Turbine (NASDAQ:APPS - Get Free Report) last announced its quarterly earnings results on Tuesday, August 5th. The software maker reported $0.05 EPS for the quarter, missing the consensus estimate of $0.10 by ($0.05). Digital Turbine had a positive return on equity of 2.24% and a negative net margin of 15.93%.The business had revenue of $130.93 million for the quarter, compared to analyst estimates of $121.94 million. Digital Turbine has set its FY 2026 guidance at EPS. Research analysts expect that Digital Turbine, Inc. will post -0.03 EPS for the current fiscal year.

Institutional Trading of Digital Turbine

Several hedge funds and other institutional investors have recently bought and sold shares of APPS. Harbor Capital Advisors Inc. acquired a new stake in Digital Turbine in the 2nd quarter worth $12,031,000. Arrowstreet Capital Limited Partnership grew its position in Digital Turbine by 179.9% in the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 3,163,124 shares of the software maker's stock worth $18,662,000 after purchasing an additional 2,033,216 shares during the last quarter. G2 Investment Partners Management LLC acquired a new stake in Digital Turbine in the 2nd quarter worth $8,341,000. Segall Bryant & Hamill LLC acquired a new stake in Digital Turbine in the 1st quarter worth $2,710,000. Finally, Invesco Ltd. lifted its holdings in shares of Digital Turbine by 240.9% during the 2nd quarter. Invesco Ltd. now owns 1,295,618 shares of the software maker's stock worth $7,644,000 after acquiring an additional 915,536 shares during the period. 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.