Digital Turbine (NASDAQ:APPS) Trading Up 8.5% - Time to Buy?

Shares of Digital Turbine, Inc. (NASDAQ:APPS - Get Free Report) rose 8.5% during trading on Monday . The company traded as high as $5.80 and last traded at $5.82. Approximately 1,630,032 shares changed hands during trading, a decline of 73% from the average daily volume of 6,054,803 shares. The stock had previously closed at $5.37.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on the stock. Craig Hallum boosted their target price on shares of Digital Turbine from $4.00 to $7.00 and gave the company a "buy" rating in a report on Tuesday, June 17th. Wall Street Zen upgraded shares of Digital Turbine from a "hold" rating to a "buy" rating in a research note on Saturday, June 21st.

Digital Turbine Stock Up 3.4%

The company has a market capitalization of $599.18 million, a price-to-earnings ratio of -6.24 and a beta of 2.57. The company has a quick ratio of 1.09, a current ratio of 1.09 and a debt-to-equity ratio of 2.66. The business has a fifty day simple moving average of $5.18 and a two-hundred day simple moving average of $3.88.

Digital Turbine (NASDAQ:APPS - Get Free Report) last posted its 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. The company had revenue of $119.15 million for 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 quarter in the prior year, the business earned $0.12 earnings per share. Equities analysts expect that Digital Turbine, Inc. will post -0.03 EPS for the current year.

Institutional Investors Weigh In On Digital Turbine

Hedge funds and other institutional investors have recently bought and sold shares of the business. Plancorp LLC bought a new position in shares of Digital Turbine in the 4th quarter valued at about $35,000. Strs Ohio purchased a new stake in shares of Digital Turbine during the 1st quarter worth $41,000. Caitong International Asset Management Co. Ltd purchased a new stake in Digital Turbine during the first quarter worth about $45,000. Cetera Investment Advisers increased its position in Digital Turbine by 94.3% during the fourth quarter. Cetera Investment Advisers now owns 27,436 shares of the software maker's stock worth $46,000 after purchasing an additional 13,317 shares during the last quarter. Finally, ProShare Advisors LLC lifted its position in shares of Digital Turbine by 49.0% in the 4th quarter. ProShare Advisors LLC now owns 27,024 shares of the software maker's stock worth $46,000 after buying an additional 8,892 shares during the last quarter. Institutional investors own 63.66% of the company's stock.

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.

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