Digital Turbine (NASDAQ:APPS) Shares Gap Down to $6.36

Digital Turbine Inc (NASDAQ:APPS) shares gapped down before the market opened on Thursday . The stock had previously closed at $5.97, but opened at $6.36. Digital Turbine shares last traded at $6.08, with a volume of 156,820 shares changing hands.

A number of analysts have commented on the stock. B. Riley upped their price target on shares of Digital Turbine from $6.00 to $6.00 and gave the company a “buy” rating in a research report on Wednesday, June 19th. Craig Hallum set a $6.00 price target on shares of Digital Turbine and gave the company a “buy” rating in a research report on Tuesday, June 4th. ValuEngine raised shares of Digital Turbine from a “buy” rating to a “strong-buy” rating in a research report on Thursday, June 27th. National Securities reissued a “buy” rating and set a $4.50 price objective on shares of Digital Turbine in a research report on Tuesday, June 4th. Finally, LADENBURG THALM/SH SH increased their price objective on shares of Digital Turbine from $4.50 to $5.10 and gave the stock a “buy” rating in a research report on Tuesday, June 4th. Six investment analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the stock. Digital Turbine has a consensus rating of “Buy” and an average price target of $5.56.

The company has a market cap of $527.94 million, a P/E ratio of 70.67 and a beta of 1.83. The stock’s 50-day moving average price is $5.46 and its 200-day moving average price is $4.07.

Digital Turbine (NASDAQ:APPS) last released its quarterly earnings data on Monday, August 5th. The software maker reported $0.04 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.03 by $0.01. The company had revenue of $30.55 million for the quarter, compared to analysts’ expectations of $28.39 million. Digital Turbine had a negative net margin of 7.42% and a positive return on equity of 23.70%. Equities analysts anticipate that Digital Turbine Inc will post 0.17 EPS for the current year.

In related news, Director Paul M. Schaeffer sold 31,847 shares of the company’s stock in a transaction dated Thursday, June 6th. The shares were sold at an average price of $4.54, for a total value of $144,585.38. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, Director Paul M. Schaeffer sold 150,000 shares of the company’s stock in a transaction dated Monday, June 10th. The stock was sold at an average price of $4.47, for a total transaction of $670,500.00. The disclosure for this sale can be found here. 5.80% of the stock is owned by corporate insiders.

A number of large investors have recently bought and sold shares of APPS. BlackRock Inc. increased its stake in Digital Turbine by 298.8% in the 2nd quarter. BlackRock Inc. now owns 5,105,929 shares of the software maker’s stock valued at $25,529,000 after buying an additional 3,825,466 shares during the last quarter. Allianz Asset Management GmbH purchased a new stake in Digital Turbine in the 2nd quarter valued at about $5,204,000. Vanguard Group Inc. increased its stake in Digital Turbine by 35.9% in the 2nd quarter. Vanguard Group Inc. now owns 3,560,468 shares of the software maker’s stock valued at $17,802,000 after buying an additional 940,198 shares during the last quarter. Invesco Ltd. purchased a new stake in Digital Turbine in the 2nd quarter valued at about $2,847,000. Finally, Calamos Advisors LLC purchased a new stake in Digital Turbine in the 2nd quarter valued at about $2,185,000. Hedge funds and other institutional investors own 27.19% of the company’s stock.

Digital Turbine Company Profile (NASDAQ:APPS)

Digital Turbine, Inc, through its subsidiaries, provides media and mobile communication solutions for mobile operators, application developers, device original equipment manufacturers, and other third parties worldwide. The company offers Ignite, a mobile application management software to control, manage, and monetize the applications that are installed on mobile devices and professional services directly related to the ignite platform.

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