BidaskClub upgraded shares of Digital Turbine (NASDAQ:APPS) from a buy rating to a strong-buy rating in a research report sent to investors on Friday, BidAskClub reports.
Several other equities research analysts have also weighed in on APPS. Canaccord Genuity upped their target price on shares of Digital Turbine from $11.00 to $12.00 and gave the stock a buy rating in a report on Wednesday, June 3rd. Zacks Investment Research raised shares of Digital Turbine from a hold rating to a buy rating and set a $11.00 price objective on the stock in a report on Monday, June 8th. TheStreet raised shares of Digital Turbine from a c rating to a b- rating in a report on Thursday, June 4th. Roth Capital increased their price objective on shares of Digital Turbine from $9.50 to $13.00 in a report on Thursday, June 25th. Finally, Oppenheimer assumed coverage on shares of Digital Turbine in a report on Wednesday, June 24th. They set an outperform rating and a $14.00 price objective on the stock. One analyst has rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the stock. Digital Turbine currently has a consensus rating of Buy and a consensus price target of $11.75.
APPS opened at $11.87 on Friday. The firm’s 50-day simple moving average is $8.14 and its 200-day simple moving average is $6.64. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.71 and a current ratio of 0.71. Digital Turbine has a twelve month low of $3.48 and a twelve month high of $12.06. The firm has a market cap of $1.03 billion, a price-to-earnings ratio of 79.13 and a beta of 1.77.
Digital Turbine (NASDAQ:APPS) last posted its earnings results on Tuesday, June 2nd. The software maker reported $0.05 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.04 by $0.01. Digital Turbine had a net margin of 10.02% and a return on equity of 26.09%. The business had revenue of $39.35 million for the quarter, compared to analyst estimates of $38.40 million. As a group, sell-side analysts anticipate that Digital Turbine will post 0.37 EPS for the current fiscal year.
Large investors have recently made changes to their positions in the stock. State Street Corp grew its holdings in Digital Turbine by 5.8% during the first quarter. State Street Corp now owns 1,955,369 shares of the software maker’s stock valued at $8,428,000 after purchasing an additional 107,577 shares during the period. Voloridge Investment Management LLC acquired a new stake in Digital Turbine in the first quarter worth $282,000. Advisor Group Holdings Inc. bought a new position in shares of Digital Turbine during the first quarter worth $108,000. Greenhaven Road Investment Management L.P. grew its holdings in shares of Digital Turbine by 7.9% in the 1st quarter. Greenhaven Road Investment Management L.P. now owns 2,607,916 shares of the software maker’s stock valued at $11,240,000 after buying an additional 191,774 shares during the period. Finally, AQR Capital Management LLC grew its holdings in shares of Digital Turbine by 43.9% in the 1st quarter. AQR Capital Management LLC now owns 746,741 shares of the software maker’s stock valued at $3,218,000 after buying an additional 227,696 shares during the period. Institutional investors and hedge funds own 54.12% of the company’s stock.
About Digital Turbine
Digital Turbine, Inc, through its subsidiaries, provides media and mobile communication products and solutions for mobile operators, application developers, device original equipment manufacturers (OEMs), and other third parties worldwide. It provides Ignite, a software platform that enables mobile operators and OEMs to control, manage, and monetize devices.
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