Digital Turbine (NASDAQ:APPS) Upgraded to Strong-Buy at Roth Capital

Digital Turbine (NASDAQ:APPS) was upgraded by equities research analysts at Roth Capital to a “strong-buy” rating in a research note issued on Thursday, Zacks reports.

A number of other brokerages also recently commented on APPS. TD Cowen reiterated a “hold” rating on shares of Digital Turbine in a research note on Tuesday, September 29th. Royal Bank Of Canada assumed coverage on Digital Turbine in a research note on Thursday, October 1st. They issued an “outperform” rating and a $15.00 price target on the stock. Wall Street Zen upgraded Digital Turbine from a “buy” rating to a “strong-buy” rating in a research note on Saturday, August 29th. Benchmark lifted their price target on Digital Turbine from $15.00 to $16.00 and gave the stock a “buy” rating in a report on Wednesday, August 5th. Finally, Weiss Ratings reissued a “sell (e+)” rating on shares of Digital Turbine in a research report on Wednesday, September 2nd. One investment analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, Digital Turbine has an average rating of “Moderate Buy” and a consensus target price of $15.10.

Digital Turbine Stock Performance

Shares of Digital Turbine stock opened at $10.54 on Thursday. Digital Turbine has a one year low of $2.74 and a one year high of $15.34. The company has a market cap of $1.28 billion, a PE ratio of 17.00, a P/E/G ratio of 0.41 and a beta of 3.02. The company has a debt-to-equity ratio of 1.80, a quick ratio of 1.20 and a current ratio of 1.20. The business has a 50-day simple moving average of $11.29 and a 200-day simple moving average of $8.58.

Digital Turbine (NASDAQ:APPS) last issued its earnings results on Tuesday, August 4th. The software maker reported $0.19 earnings per share for the quarter, beating the consensus estimate of $0.14 by $0.05. Digital Turbine had a negative net margin of 4.46% and a positive return on equity of 38.34%. The firm had revenue of $165.98 million for the quarter, compared to analysts’ expectations of $149.98 million. On average, equities research analysts forecast that Digital Turbine will post 0.75 EPS for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the stock. Essential Partners LLC raised 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 worth $26,000 after acquiring an additional 5,652 shares in the last quarter. Verus Capital Partners LLC purchased a new stake in Digital Turbine in the first quarter valued at $35,000. Y Intercept Hong Kong Ltd purchased a new stake in Digital Turbine in the first quarter valued at $44,000. Caitong International Asset Management Co. Ltd purchased a new stake in Digital Turbine in the fourth quarter valued at $44,000. Finally, State of Wyoming acquired a new position in Digital Turbine in the first quarter valued at $50,000. 63.66% of the stock is owned by hedge funds and other institutional investors.

Digital Turbine Company Profile

Digital Turbine, Inc is a mobile advertising and application-growth company that helps advertisers, app developers, wireless carriers and device manufacturers connect with mobile users. Its platform supports the distribution, promotion and monetization of applications across smartphones and other connected devices.

The company’s products and services include on-device app discovery and recommendation tools, app-install solutions, mobile advertising formats, audience-targeting capabilities and programmatic advertising technology.