Digital Turbine (NASDAQ:APPS) Stock Price Up 6.5% - Here's Why

Key Points

• Digital Turbine shares rose 6.5% to about $11.35, although trading volume was 88% below the average daily level.
• Analysts maintain a generally positive outlook, with a consensus “Moderate Buy” rating and an average price target of $14.75; four analysts rate the stock Buy, one Hold, and one Sell.
• The company beat quarterly expectations, reporting $0.19 in EPS versus $0.14 expected and revenue of $165.98 million versus $149.98 million forecast. Institutional investors and hedge funds own 63.66% of the stock.

Shares of Digital Turbine, Inc. (NASDAQ:APPS - Get Free Report) rose 6.5% on Monday . The company traded as high as $11.35 and last traded at $11.3490. 468,750 shares were traded during trading, a decline of 88% from the average daily volume of 3,943,797 shares. The stock had previously closed at $10.66.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on APPS. Bank of America raised shares of Digital Turbine from a "neutral" rating to a "buy" rating and set a $7.50 price objective on the stock in a research report on Wednesday, May 27th. Weiss Ratings restated a "sell (e+)" rating on shares of Digital Turbine in a research note on Wednesday, September 2nd. Benchmark lifted their price target on shares of Digital Turbine from $15.00 to $16.00 and gave the stock a "buy" rating in a report on Wednesday, August 5th. Craig Hallum reaffirmed a "buy" rating and set a $18.00 price target on shares of Digital Turbine in a research report on Wednesday, August 5th. Finally, Roth Capital reiterated a "buy" rating and set a $17.50 price objective on shares of Digital Turbine in a report on Thursday, August 6th. Four equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $14.75.

Digital Turbine Trading Up 9.7%

The company has a quick ratio of 1.20, a current ratio of 1.20 and a debt-to-equity ratio of 1.80. The company's 50-day moving average is $10.64 and its 200 day moving average is $7.58. The company has a market cap of $1.42 billion, a price-to-earnings ratio of -45.10, a price-to-earnings-growth ratio of 0.45 and a beta of 2.87.

Digital Turbine (NASDAQ:APPS - Get Free Report) last posted its earnings results on Tuesday, August 4th. The software maker reported $0.19 EPS for the quarter, beating analysts' consensus estimates of $0.14 by $0.05. Digital Turbine had a positive return on equity of 38.34% and a negative net margin of 4.46%.The firm had revenue of $165.98 million for the quarter, compared to analysts' expectations of $149.98 million. Research analysts predict that Digital Turbine, Inc. will post 0.75 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 company. Dimensional Fund Advisors LP boosted its stake in shares of Digital Turbine by 56.1% in the 1st quarter. Dimensional Fund Advisors LP now owns 2,353,594 shares of the software maker's stock valued at $6,778,000 after buying an additional 846,116 shares during the period. GC Wealth Management RIA LLC increased its stake in shares of Digital Turbine by 41.9% during the first quarter. GC Wealth Management RIA LLC now owns 576,273 shares of the software maker's stock worth $1,660,000 after buying an additional 170,134 shares during the period. Granahan Investment Management LLC increased its stake in shares of Digital Turbine by 12.0% during the first quarter. Granahan Investment Management LLC now owns 7,112,351 shares of the software maker's stock worth $20,484,000 after buying an additional 762,888 shares during the period. Globeflex Capital L P acquired a new stake in Digital Turbine in the first quarter valued at approximately $1,227,000. Finally, AIGH Capital Management LLC acquired a new stake in Digital Turbine in the first quarter valued at approximately $14,100,000. 63.66% of the stock is currently owned by institutional investors and hedge funds.

About Digital Turbine

Digital Turbine, Inc is a mobile advertising and application growth company that provides technology for advertisers, mobile operators, device manufacturers and app publishers. Its platform helps businesses promote, distribute and monetize mobile applications and digital content across smartphones and other connected devices.

The company's offerings include on-device app discovery and recommendation tools, advertising inventory and exchange services, and technologies that support app installation and user engagement.

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