Digital Turbine (NASDAQ:APPS) Trading Up 7.7% – Here’s Why

Digital Turbine, Inc. (NASDAQ:APPS)’s stock price was up 7.7% during mid-day trading on Monday . The company traded as high as $9.43 and last traded at $9.7040. Approximately 793,894 shares traded hands during trading, a decline of 79% from the average daily volume of 3,808,629 shares. The stock had previously closed at $9.01.

Analyst Ratings Changes

A number of research analysts recently issued reports on APPS shares. Weiss Ratings lowered Digital Turbine from a “sell (d-)” rating to a “sell (e+)” rating in a report on Friday. Zacks Research raised Digital Turbine from a “hold” rating to a “strong-buy” rating in a report on Thursday, May 28th. Wall Street Zen raised Digital Turbine from a “hold” rating to a “buy” rating in a report on Saturday, May 9th. Finally, Bank of America raised Digital Turbine from a “neutral” rating to a “buy” rating and set a $7.50 target price on the stock in a report on Wednesday, May 27th. One research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and one has issued a Sell rating to the stock. According to MarketBeat.com, Digital Turbine presently has a consensus rating of “Moderate Buy” and a consensus price target of $8.75.

Digital Turbine Price Performance

The stock has a 50 day moving average of $4.68 and a two-hundred day moving average of $4.60. The stock has a market cap of $1.19 billion, a PE ratio of -27.36, a PEG ratio of 0.72 and a beta of 2.85. The company has a debt-to-equity ratio of 1.84, a quick ratio of 1.16 and a current ratio of 1.16.

Digital Turbine (NASDAQ:APPS) last issued its quarterly earnings results on Tuesday, May 26th. The software maker reported $0.16 earnings per share for the quarter, topping analysts’ consensus estimates of $0.09 by $0.07. The firm had revenue of $142.55 million for the quarter, compared to analysts’ expectations of $133.23 million. Digital Turbine had a positive return on equity of 27.60% and a negative net margin of 6.68%. Equities analysts anticipate that Digital Turbine, Inc. will post 0.68 EPS for the current year.

Hedge Funds Weigh In On Digital Turbine

A number of institutional investors have recently bought and sold shares of the stock. Segall Bryant & Hamill LLC purchased a new position in Digital Turbine in the 1st quarter worth about $1,283,000. Verus Capital Partners LLC purchased a new position in Digital Turbine during the 1st quarter valued at about $35,000. Essential Partners LLC grew its stake in Digital Turbine by 167.3% during the 1st quarter. Essential Partners LLC now owns 9,031 shares of the software maker’s stock valued at $26,000 after acquiring an additional 5,652 shares in the last quarter. Bank of America Corp DE grew its stake in Digital Turbine by 17.4% during the 1st quarter. Bank of America Corp DE now owns 3,619,171 shares of the software maker’s stock valued at $10,423,000 after acquiring an additional 535,169 shares in the last quarter. Finally, Granahan Investment Management LLC grew its stake in Digital Turbine by 12.0% during the 1st quarter. Granahan Investment Management LLC now owns 7,112,351 shares of the software maker’s stock valued at $20,484,000 after acquiring an additional 762,888 shares in the last quarter. Hedge funds and other institutional investors own 63.66% of the company’s stock.

Digital Turbine Company Profile

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.