Digital Turbine (NASDAQ:APPS) Shares Up 4.4% - Here's Why

Key Points

• Digital Turbine shares rose 4.4% to $11.55 in mid-day trading, although volume was 84% below the stock’s average daily volume.
• Analysts maintain a generally positive outlook, with a consensus rating of “Moderate Buy” and an average price target of $14.75; recent targets range from $7.50 to $18.00.
• The company exceeded quarterly expectations, reporting earnings of $0.19 per share versus $0.14 expected and revenue of $165.98 million versus $149.98 million estimated. Institutional investors own approximately 63.66% of the stock.

Shares of Digital Turbine, Inc. (NASDAQ:APPS - Get Free Report) rose 4.4% during mid-day trading on Thursday . The company traded as high as $11.55 and last traded at $11.55. 620,429 shares changed hands during trading, a decline of 84% from the average daily volume of 3,994,986 shares. The stock had previously closed at $11.06.

Wall Street Analysts Forecast Growth

APPS has been the subject of a number of recent analyst reports. Bank of America upgraded Digital Turbine from a "neutral" rating to a "buy" rating and set a $7.50 price objective for the company in a research report on Wednesday, May 27th. Craig Hallum reissued a "buy" rating and issued a $18.00 price target on shares of Digital Turbine in a research note on Wednesday, August 5th. Zacks Research lowered shares of Digital Turbine from a "strong-buy" rating to a "hold" rating in a report on Monday, July 27th. Wall Street Zen upgraded shares of Digital Turbine from a "buy" rating to a "strong-buy" rating in a research report on Saturday, August 29th. Finally, Roth Capital reaffirmed a "buy" rating and set a $17.50 price objective on shares of Digital Turbine in a report on Thursday, August 6th. Four investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $14.75.

Digital Turbine Price Performance

The company has a debt-to-equity ratio of 1.80, a current ratio of 1.20 and a quick ratio of 1.20. The stock has a market capitalization of $1.41 billion, a price-to-earnings ratio of -44.73, a price-to-earnings-growth ratio of 0.48 and a beta of 2.87. The stock has a 50 day moving average price of $10.64 and a 200-day moving average price of $7.23.

Digital Turbine (NASDAQ:APPS - Get Free Report) last announced its quarterly earnings data on Tuesday, August 4th. The software maker reported $0.19 earnings per share for the quarter, beating analysts' consensus estimates of $0.14 by $0.05. The company had revenue of $165.98 million for the quarter, compared to analyst estimates of $149.98 million. Digital Turbine had a positive return on equity of 38.34% and a negative net margin of 4.46%. On average, analysts forecast that Digital Turbine, Inc. will post 0.75 earnings per share for the current year.

Institutional Investors Weigh In On Digital Turbine

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Essential Partners LLC grew its holdings in Digital Turbine by 167.3% in the 1st 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 in the last quarter. Quarry LP increased its position in Digital Turbine by 1,323.4% during the fourth quarter. Quarry LP now owns 5,594 shares of the software maker's stock worth $28,000 after purchasing an additional 5,201 shares during the last quarter. Verus Capital Partners LLC purchased a new position in Digital Turbine during the first quarter worth about $35,000. Strs Ohio acquired a new position in Digital Turbine in the 1st quarter valued at about $41,000. Finally, Caitong International Asset Management Co. Ltd acquired a new position in Digital Turbine in the 4th quarter valued at about $44,000. Institutional investors and hedge funds 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.

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