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Digital Turbine (NASDAQ:APPS) Trading Up 5.9% After Analyst Upgrade

Tuesday, June 30, 2020 | MarketBeat

Digital Turbine Inc (NASDAQ:APPS) rose 5.9% on Tuesday after Craig Hallum raised their price target on the stock from $12.00 to $15.00. Craig Hallum currently has a buy rating on the stock. Digital Turbine traded as high as $12.71 and last traded at $12.57, approximately 3,139,461 shares were traded during trading. An increase of 26% from the average daily volume of 2,492,745 shares. The stock had previously closed at $11.87.

APPS has been the topic of a number of other reports. ValuEngine upgraded shares of Digital Turbine from a "sell" rating to a "hold" rating in a research report on Thursday, April 2nd. Oppenheimer began coverage on Digital Turbine in a report on Wednesday, June 24th. They set an "outperform" rating and a $14.00 target price on the stock. BidaskClub upgraded Digital Turbine from a "buy" rating to a "strong-buy" rating in a research report on Friday. TheStreet raised Digital Turbine from a "c" rating to a "b-" rating in a research note on Thursday, June 4th. Finally, Canaccord Genuity raised their target price on Digital Turbine from $11.00 to $12.00 and gave the company a "buy" rating in a research note on Wednesday, June 3rd. One equities research analyst has rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company's stock. Digital Turbine currently has a consensus rating of "Buy" and a consensus target price of $12.21.

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Ladenburg Thalmann Financial Services Inc. grew its holdings in shares of Digital Turbine by 975.0% in the 4th quarter. Ladenburg Thalmann Financial Services Inc. now owns 4,300 shares of the software maker's stock worth $30,000 after acquiring an additional 3,900 shares during the last quarter. Tower Research Capital LLC TRC lifted its stake in Digital Turbine by 416.7% during the first quarter. Tower Research Capital LLC TRC now owns 8,127 shares of the software maker's stock valued at $35,000 after buying an additional 6,554 shares in the last quarter. Great West Life Assurance Co. Can acquired a new position in shares of Digital Turbine in the fourth quarter worth about $36,000. Advisor Group Inc. increased its position in shares of Digital Turbine by 275.6% in the fourth quarter. Advisor Group Inc. now owns 6,253 shares of the software maker's stock worth $45,000 after acquiring an additional 4,588 shares in the last quarter. Finally, Financial Advocates Investment Management purchased a new position in shares of Digital Turbine in the first quarter worth approximately $47,000. 54.12% of the stock is owned by institutional investors and hedge funds.

The company's 50-day moving average is $8.14 and its 200 day moving average is $6.64. The company has a current ratio of 0.71, a quick ratio of 0.71 and a debt-to-equity ratio of 0.24. The firm has a market cap of $1.03 billion, a PE ratio of 83.47 and a beta of 1.77.

Digital Turbine (NASDAQ:APPS) last released its earnings results on Tuesday, June 2nd. The software maker reported $0.05 earnings per share (EPS) for the quarter, beating the Zacks' consensus estimate of $0.04 by $0.01. Digital Turbine had a return on equity of 26.09% and a net margin of 10.02%. The company had revenue of $39.35 million during the quarter, compared to analyst estimates of $38.40 million. On average, research analysts predict that Digital Turbine Inc will post 0.37 EPS for the current fiscal year.

Digital Turbine Company Profile (NASDAQ:APPS)

Digital Turbine, Inc, through its subsidiaries, provides media and mobile communication products and solutions for mobile operators, application developers, device original equipment manufacturers (OEMs), and other third parties worldwide. It provides Ignite, a software platform that enables mobile operators and OEMs to control, manage, and monetize devices.

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