Digital Turbine (NASDAQ:APPS) Trading Up 10.4% - Here's What Happened

Key Points

• Digital Turbine shares jumped 10.4% to about $8.90, with roughly 2.17 million shares traded—46% below the stock’s average daily volume.
• Analyst sentiment remains generally positive: the stock has a consensus “Moderate Buy” rating and an $11.00 average price target, despite recent upgrades and downgrades.
• The company beat quarterly expectations, reporting $0.16 earnings per share versus a $0.09 estimate and revenue of $142.55 million versus $133.22 million expected; institutional investors own 63.66% of its shares.

Digital Turbine, Inc. (NASDAQ:APPS - Get Free Report) shares traded up 10.4% on Monday . The company traded as high as $8.92 and last traded at $8.9020. Approximately 2,172,480 shares were traded during trading, a decline of 46% from the average daily volume of 4,030,111 shares. The stock had previously closed at $8.06.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on the company. Roth Capital started coverage on Digital Turbine in a research report on Tuesday, July 21st. They issued a "buy" rating and a $11.50 price target on the stock. Weiss Ratings downgraded Digital Turbine from a "sell (d-)" rating to a "sell (e+)" rating in a report on Friday, June 5th. Benchmark assumed coverage on shares of Digital Turbine in a research note on Tuesday, July 21st. They issued a "buy" rating and a $15.00 target price on the stock. Wall Street Zen raised Digital Turbine from a "buy" rating to a "strong-buy" rating in a research note on Saturday, July 18th. Finally, Zacks Research lowered shares of Digital Turbine from a "strong-buy" rating to a "hold" rating in a report on Monday, July 27th. One research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat.com, Digital Turbine has a consensus rating of "Moderate Buy" and a consensus price target of $11.00.

Digital Turbine Price Performance

The company has a current ratio of 1.16, a quick ratio of 1.16 and a debt-to-equity ratio of 1.84. The company's 50 day moving average is $9.42 and its 200-day moving average is $5.90. The firm has a market capitalization of $1.09 billion, a price-to-earnings ratio of -24.74, a P/E/G ratio of 0.62 and a beta of 2.81.

Digital Turbine (NASDAQ:APPS - Get Free Report) last posted its earnings results on Tuesday, May 26th. The software maker reported $0.16 earnings per share for the quarter, topping analysts' consensus estimates of $0.09 by $0.07. Digital Turbine had a positive return on equity of 27.60% and a negative net margin of 6.68%.The business had revenue of $142.55 million for the quarter, compared to analyst estimates of $133.22 million. Equities research analysts anticipate that Digital Turbine, Inc. will post 0.68 earnings per share for the current year.

Institutional Trading of Digital Turbine

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Granahan Investment Management LLC lifted its position in Digital Turbine by 12.0% during the first quarter. Granahan Investment Management LLC now owns 7,112,351 shares of the software maker's stock worth $20,484,000 after acquiring an additional 762,888 shares during the last quarter. GC Wealth Management RIA LLC grew its position in shares of Digital Turbine by 41.9% in the first quarter. GC Wealth Management RIA LLC now owns 576,273 shares of the software maker's stock valued at $1,660,000 after purchasing an additional 170,134 shares during the last quarter. AIGH Capital Management LLC bought a new position in shares of Digital Turbine during the first quarter worth approximately $14,100,000. Globeflex Capital L P bought a new position in shares of Digital Turbine during the first quarter worth approximately $1,227,000. Finally, UBS Group AG lifted its holdings in Digital Turbine by 444.0% during the 4th quarter. UBS Group AG now owns 779,585 shares of the software maker's stock worth $3,898,000 after purchasing an additional 636,267 shares during the last quarter. Institutional investors own 63.66% of the company's stock.

About Digital Turbine

Digital Turbine, Inc NASDAQ: APPS is a mobile technology company that streamlines content delivery and app advertising across connected devices. Its platform enables carriers, OEMs, app developers and advertisers to engage users through personalized app recommendations, in-app promotions and turnkey monetization solutions. By integrating software directly on smartphones and tablets, Digital Turbine simplifies the user journey from discovery to installation without requiring additional downloads or redirects through traditional app stores.

The company's flagship Ignite Platform offers end-to-end campaign management, combining demand-side advertising, real-time analytics and automated content fulfillment.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.