Digital Turbine (NASDAQ:APPS) Trading Up 9.2% - What's Next?

Digital Turbine, Inc. (NASDAQ:APPS - Get Free Report)'s share price traded up 9.2% during mid-day trading on Monday . The stock traded as high as $6.11 and last traded at $6.26. 1,508,186 shares were traded during trading, a decline of 70% from the average session volume of 5,030,376 shares. The stock had previously closed at $5.73.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on APPS shares. Wall Street Zen raised shares of 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 company a "buy" rating in a report on Tuesday, June 17th.

Digital Turbine Price Performance

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 firm has a fifty day simple moving average of $4.50 and a two-hundred day simple moving average of $3.47. The firm has a market cap of $640.29 million, a PE ratio of -6.72 and a beta of 2.58.

Digital Turbine (NASDAQ:APPS - Get Free Report) last posted its earnings results on Monday, June 16th. The software maker reported $0.10 earnings per share for the quarter, beating analysts' consensus estimates of $0.05 by $0.05. The firm had revenue of $119.15 million during the quarter, compared to analyst estimates of $116.64 million. Digital Turbine had a negative net margin of 18.61% and a positive return on equity of 1.89%. During the same period last year, the firm posted $0.12 earnings per share. Equities analysts predict that Digital Turbine, Inc. will post -0.03 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. Vanguard Group Inc. raised its position in Digital Turbine by 11.2% during the first quarter. Vanguard Group Inc. now owns 8,869,396 shares of the software maker's stock valued at $24,080,000 after purchasing an additional 893,035 shares during the period. Two Sigma Investments LP raised its holdings in Digital Turbine by 19.1% during the 4th quarter. Two Sigma Investments LP now owns 2,105,953 shares of the software maker's stock valued at $3,559,000 after buying an additional 337,959 shares during the period. Bank of America Corp DE lifted its position in Digital Turbine by 55.6% in the fourth quarter. Bank of America Corp DE now owns 2,028,022 shares of the software maker's stock worth $3,427,000 after buying an additional 724,297 shares during the last quarter. Two Sigma Advisers LP lifted its position in Digital Turbine by 0.4% in the fourth quarter. Two Sigma Advisers LP now owns 1,641,974 shares of the software maker's stock worth $2,775,000 after buying an additional 7,100 shares during the last quarter. Finally, Greenhaven Road Investment Management L.P. boosted its stake in Digital Turbine by 467.1% during 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 buying an additional 845,051 shares during the period. 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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