Digital Turbine (NASDAQ:APPS) Upgraded by Wall Street Zen to Strong-Buy Rating

Key Points

• Digital Turbine (NASDAQ:APPS) was upgraded by Wall Street Zen from “buy” to “strong-buy”, adding to a series of generally positive analyst calls on the stock.
• Recent analyst activity includes upgrades from Zacks Research and Bank of America, while the broader consensus rating remains “Moderate Buy” with a $8.75 price target.
• The company recently beat quarterly expectations, posting $0.16 EPS versus $0.09 expected and revenue of $142.55 million versus $133.22 million estimated.

Digital Turbine (NASDAQ:APPS - Get Free Report) was upgraded by equities researchers at Wall Street Zen from a "buy" rating to a "strong-buy" rating in a report issued on Saturday.

APPS has been the topic of several other reports. Zacks Research raised shares of Digital Turbine from a "hold" rating to a "strong-buy" rating in a research note on Thursday, May 28th. Weiss Ratings cut shares of Digital Turbine from a "sell (d-)" rating to a "sell (e+)" rating in a research report on Friday, June 5th. Finally, Bank of America raised Digital Turbine from a "neutral" rating to a "buy" rating and set a $7.50 price objective on the stock in a report on Wednesday, May 27th. One research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $8.75.

Digital Turbine Stock Performance

Digital Turbine stock opened at $8.34 on Friday. The stock has a 50-day simple moving average of $8.59 and a 200 day simple moving average of $5.66. The stock has a market capitalization of $1.01 billion, a price-to-earnings ratio of -23.17, a P/E/G ratio of 0.67 and a beta of 2.75. The company has a quick ratio of 1.16, a current ratio of 1.16 and a debt-to-equity ratio of 1.84. Digital Turbine has a 12-month low of $2.74 and a 12-month high of $13.60.

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

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. CoreCap Advisors LLC bought a new position in shares of Digital Turbine in the 2nd quarter valued at about $674,000. Segall Bryant & Hamill LLC bought a new stake in shares of Digital Turbine during the first quarter worth approximately $1,283,000. Verus Capital Partners LLC acquired a new position in Digital Turbine in the first quarter valued at approximately $35,000. Essential Partners LLC lifted its holdings in Digital Turbine by 167.3% in the first quarter. Essential Partners LLC now owns 9,031 shares of the software maker's stock valued at $26,000 after buying an additional 5,652 shares during the period. Finally, Bank of America Corp DE boosted its stake in Digital Turbine by 17.4% in the first quarter. Bank of America Corp DE now owns 3,619,171 shares of the software maker's stock valued at $10,423,000 after acquiring an additional 535,169 shares during the last quarter. Institutional investors own 63.66% of the company's stock.

Digital Turbine Company Profile

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.

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