Shares of Digital Turbine Inc (NASDAQ:APPS) have received an average rating of “Buy” from the nine ratings firms that are covering the stock, Marketbeat Ratings reports. One research analyst has rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating on the company. The average twelve-month target price among brokerages that have issued a report on the stock in the last year is $5.73.
A number of equities analysts recently issued reports on the stock. ValuEngine cut shares of Digital Turbine from a “buy” rating to a “hold” rating in a research note on Wednesday, October 2nd. Canaccord Genuity started coverage on shares of Digital Turbine in a research note on Thursday, June 27th. They set a “buy” rating and a $6.00 target price on the stock. BidaskClub upgraded shares of Digital Turbine from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, September 25th. Zacks Investment Research upgraded shares of Digital Turbine from a “hold” rating to a “buy” rating and set a $5.75 target price on the stock in a research note on Tuesday, July 2nd. Finally, B. Riley set a $7.00 target price on shares of Digital Turbine and gave the company a “buy” rating in a research note on Monday, September 9th.
A number of institutional investors and hedge funds have recently bought and sold shares of APPS. BlackRock Inc. lifted its stake in Digital Turbine by 298.8% during the 2nd quarter. BlackRock Inc. now owns 5,105,929 shares of the software maker’s stock valued at $25,529,000 after acquiring an additional 3,825,466 shares during the period. Allianz Asset Management GmbH bought a new position in Digital Turbine during the 2nd quarter valued at about $5,204,000. Vanguard Group Inc. lifted its stake in Digital Turbine by 35.9% during the 2nd quarter. Vanguard Group Inc. now owns 3,560,468 shares of the software maker’s stock valued at $17,802,000 after acquiring an additional 940,198 shares during the period. Invesco Ltd. bought a new position in Digital Turbine during the 2nd quarter valued at about $2,847,000. Finally, Calamos Advisors LLC bought a new position in Digital Turbine during the 2nd quarter valued at about $2,185,000. Institutional investors and hedge funds own 38.65% of the company’s stock.
Digital Turbine stock traded down $0.01 during mid-day trading on Monday, reaching $6.41. The stock had a trading volume of 479,083 shares, compared to its average volume of 1,599,941. The company has a market capitalization of $532.09 million, a price-to-earnings ratio of 128.20 and a beta of 1.39. The company has a 50-day moving average price of $6.81 and a two-hundred day moving average price of $5.17. Digital Turbine has a one year low of $1.22 and a one year high of $7.84.
Digital Turbine (NASDAQ:APPS) last announced its quarterly earnings results 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%. On average, analysts forecast that Digital Turbine will post 0.17 EPS for the current year.
About Digital Turbine
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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