Digital Turbine (NASDAQ:APPS) Trading Up 8.3% – Here’s What Happened

Digital Turbine, Inc. (NASDAQ:APPS)’s stock price shot up 8.3% on Monday . The company traded as high as $4.50 and last traded at $4.4950. 2,056,410 shares traded hands during trading, a decline of 41% from the average session volume of 3,461,154 shares. The stock had previously closed at $4.15.

Analyst Ratings Changes

Several equities research analysts have commented on APPS shares. Weiss Ratings reiterated a “sell (d-)” rating on shares of Digital Turbine in a research note on Monday, December 29th. Craig Hallum reaffirmed a “buy” rating and issued a $10.00 price target on shares of Digital Turbine in a research note on Wednesday, November 5th. Zacks Research upgraded shares of Digital Turbine from a “hold” rating to a “strong-buy” rating in a report on Thursday. Finally, Wall Street Zen raised shares of Digital Turbine from a “hold” rating to a “buy” rating in a research note on Saturday. One equities research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $7.75.

Digital Turbine Trading Up 6.5%

The company has a debt-to-equity ratio of 1.80, a current ratio of 1.10 and a quick ratio of 1.10. The firm has a market capitalization of $529.96 million, a price-to-earnings ratio of -9.21, a price-to-earnings-growth ratio of 0.48 and a beta of 2.26. The business’s 50 day moving average price is $5.06 and its 200-day moving average price is $5.23.

Digital Turbine (NASDAQ:APPS) last issued its earnings results on Tuesday, February 3rd. The software maker reported $0.18 earnings per share for the quarter, topping the consensus estimate of $0.16 by $0.02. Digital Turbine had a negative net margin of 8.93% and a positive return on equity of 21.26%. The company had revenue of $151.40 million for the quarter, compared to analyst estimates of $145.72 million. Equities analysts forecast that Digital Turbine, Inc. will post -0.03 EPS for the current fiscal year.

Institutional Trading of Digital Turbine

Large investors have recently bought and sold shares of the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in Digital Turbine by 4.4% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 57,539 shares of the software maker’s stock valued at $156,000 after purchasing an additional 2,449 shares during the last quarter. Goldman Sachs Group Inc. increased its holdings in shares of Digital Turbine by 74.8% in the 1st quarter. Goldman Sachs Group Inc. now owns 1,021,687 shares of the software maker’s stock valued at $2,774,000 after purchasing an additional 437,310 shares during the period. Strs Ohio acquired a new position in shares of Digital Turbine in the first quarter worth $41,000. Allspring Global Investments Holdings LLC bought a new stake in Digital Turbine during the second quarter worth approximately $1,128,000. Finally, Versor Investments LP bought a new position in Digital Turbine during the second quarter valued at about $333,000. Institutional investors and hedge funds own 63.66% of the company’s stock.

About Digital Turbine

Digital Turbine, Inc (NASDAQ: APPS) is a mobile technology company that streamlines content delivery and app advertising across connected devices. Its platform enables carriers, OEMs, app developers and advertisers to engage users through personalized app recommendations, in-app promotions and turnkey monetization solutions. By integrating software directly on smartphones and tablets, Digital Turbine simplifies the user journey from discovery to installation without requiring additional downloads or redirects through traditional app stores.

The company’s flagship Ignite Platform offers end-to-end campaign management, combining demand-side advertising, real-time analytics and automated content fulfillment.