Zacks Investment Research upgraded shares of Digital Turbine (NASDAQ:APPS) from a hold rating to a buy rating in a research note published on Tuesday, January 9th. Zacks Investment Research currently has $2.25 price objective on the software maker’s stock.
According to Zacks, “Digital Turbine Inc. offers products and solutions for mobile operators, device OEMs and third parties. The company’s product include DT Ignite(TM), a mobile device management solution with targeted app distribution capabilities, DT IQ(TM), a customized user experience and app discovery tool, DT Marketplace(TM), an application and content store and DT Pay(TM), a content management and mobile payment solution. It operates primarily in Berlin, Singapore and Sydney. Digital Turbine, Inc., formerly known as Mandalay Digital Group, Inc., is headquartered in Austin, Texas. “
Several other analysts also recently weighed in on the stock. Roth Capital reaffirmed a buy rating on shares of Digital Turbine in a research note on Monday, December 4th. B. Riley reaffirmed a buy rating and set a $2.00 price target (up previously from $1.40) on shares of Digital Turbine in a research note on Wednesday, November 8th. Finally, ValuEngine raised shares of Digital Turbine from a sell rating to a hold rating in a research note on Tuesday, October 31st. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and four have assigned a buy rating to the company’s stock. Digital Turbine has an average rating of Buy and a consensus price target of $1.85.
Shares of Digital Turbine (NASDAQ APPS) opened at $1.98 on Tuesday. The company has a debt-to-equity ratio of 0.19, a current ratio of 0.78 and a quick ratio of 0.78. Digital Turbine has a 12 month low of $0.69 and a 12 month high of $2.25.
Digital Turbine (NASDAQ:APPS) last announced its quarterly earnings data on Tuesday, November 7th. The software maker reported ($0.01) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.02) by $0.01. The business had revenue of $27.90 million during the quarter, compared to the consensus estimate of $26.96 million. Digital Turbine had a negative net margin of 20.41% and a negative return on equity of 23.85%. The firm’s quarterly revenue was up 22.4% compared to the same quarter last year. During the same quarter last year, the firm earned ($0.11) earnings per share. equities research analysts forecast that Digital Turbine will post -0.17 EPS for the current fiscal year.
In related news, CEO William Gordon Stone III purchased 50,000 shares of the firm’s stock in a transaction dated Monday, November 13th. The stock was purchased at an average price of $1.56 per share, with a total value of $78,000.00. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 4.80% of the company’s stock.
A number of large investors have recently modified their holdings of the stock. P.A.W. Capital Corp raised its stake in Digital Turbine by 5.0% in the third quarter. P.A.W. Capital Corp now owns 840,000 shares of the software maker’s stock worth $1,268,000 after buying an additional 40,000 shares in the last quarter. Perkins Capital Management Inc. raised its stake in Digital Turbine by 5.5% in the third quarter. Perkins Capital Management Inc. now owns 911,080 shares of the software maker’s stock worth $1,376,000 after buying an additional 47,500 shares in the last quarter. Thompson Davis & CO. Inc. bought a new position in Digital Turbine in the third quarter worth approximately $101,000. Trellus Management Company LLC raised its stake in Digital Turbine by 16.8% in the third quarter. Trellus Management Company LLC now owns 700,689 shares of the software maker’s stock worth $1,058,000 after buying an additional 100,689 shares in the last quarter. Finally, Granahan Investment Management Inc. MA bought a new position in Digital Turbine in the third quarter worth approximately $350,000. 20.78% of the stock is owned by institutional investors.
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About Digital Turbine
Digital Turbine, Inc is engaged in delivering end-to-end products and solutions for mobile operators, application advertisers, device original equipment manufacturers (OEMs) and other third parties to enable them to monetize mobile content. The Company operates its business in two operating segments: Advertising and Content.
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