Digital Turbine (NASDAQ:APPS) Shares Gap Up – Here’s What Happened

Digital Turbine, Inc. (NASDAQ:APPS)’s stock price gapped up before the market opened on Wednesday . The stock had previously closed at $4.17, but opened at $4.36. Digital Turbine shares last traded at $4.4050, with a volume of 815,068 shares.

Analyst Ratings Changes

Several brokerages recently commented on APPS. Zacks Research cut Digital Turbine from a “strong-buy” rating to a “hold” rating in a report on Monday, April 6th. Weiss Ratings reissued a “sell (d-)” rating on shares of Digital Turbine in a report on Friday, March 27th. Finally, Wall Street Zen raised Digital Turbine from a “hold” rating to a “buy” rating in a report on Saturday, May 9th. One equities research analyst has rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $7.75.

Digital Turbine Stock Performance

The stock has a market cap of $513.65 million, a P/E ratio of -8.89, a PEG ratio of 0.16 and a beta of 2.40. The company has a fifty day moving average of $3.47 and a 200 day moving average of $4.42. The company has a debt-to-equity ratio of 1.80, a current ratio of 1.10 and a quick ratio of 1.10.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in shares of Digital Turbine by 4.4% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 57,539 shares of the software maker’s stock worth $156,000 after acquiring an additional 2,449 shares in the last quarter. Goldman Sachs Group Inc. raised its position in shares of Digital Turbine by 74.8% during the first quarter. Goldman Sachs Group Inc. now owns 1,021,687 shares of the software maker’s stock worth $2,774,000 after purchasing an additional 437,310 shares during the period. Strs Ohio acquired a new stake in shares of Digital Turbine during the first quarter worth $41,000. Creative Planning raised its position in shares of Digital Turbine by 39.2% during the second quarter. Creative Planning now owns 21,289 shares of the software maker’s stock worth $126,000 after purchasing an additional 5,991 shares during the period. Finally, JPMorgan Chase & Co. raised its position in shares of Digital Turbine by 272.0% during the second quarter. JPMorgan Chase & Co. now owns 686,327 shares of the software maker’s stock worth $4,049,000 after purchasing an additional 501,829 shares during the period. Institutional investors 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.