Zacks Research Upgrades Digital Turbine (NASDAQ:APPS) to Strong-Buy

Digital Turbine (NASDAQ:APPS) was upgraded by analysts at Zacks Research from a “hold” rating to a “strong-buy” rating in a research note issued to investors on Thursday,Zacks.com reports.

A number of other analysts have also weighed in on APPS. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Digital Turbine in a report on Monday, December 29th. Wall Street Zen raised shares of Digital Turbine from a “hold” rating to a “buy” rating in a report on Saturday. Finally, Craig Hallum reiterated a “buy” rating and issued a $10.00 price objective on shares of Digital Turbine in a research report on Wednesday, November 5th. One investment analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $7.75.

Digital Turbine Stock Down 2.1%

Digital Turbine stock opened at $4.15 on Thursday. Digital Turbine has a 1-year low of $2.11 and a 1-year high of $8.28. The firm has a 50 day simple moving average of $5.06 and a 200 day simple moving average of $5.23. The company has a current ratio of 1.10, a quick ratio of 1.10 and a debt-to-equity ratio of 1.80. The firm has a market capitalization of $497.59 million, a price-to-earnings ratio of -8.65, a P/E/G ratio of 0.49 and a beta of 2.26.

Digital Turbine (NASDAQ:APPS) last released its quarterly earnings data on Tuesday, February 3rd. The software maker reported $0.18 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.16 by $0.02. The company had revenue of $151.40 million for the quarter, compared to analyst estimates of $145.72 million. Digital Turbine had a positive return on equity of 21.26% and a negative net margin of 8.93%. On average, analysts predict that Digital Turbine will post -0.03 earnings per share for the current year.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the business. Versor Investments LP bought a new position in Digital Turbine during the 2nd quarter worth approximately $333,000. XTX Topco Ltd lifted its position in Digital Turbine by 91.7% in the second quarter. XTX Topco Ltd now owns 203,936 shares of the software maker’s stock valued at $1,203,000 after purchasing an additional 97,567 shares during the last quarter. Arrowstreet Capital Limited Partnership boosted its stake in shares of Digital Turbine by 179.9% during the second quarter. Arrowstreet Capital Limited Partnership now owns 3,163,124 shares of the software maker’s stock valued at $18,662,000 after purchasing an additional 2,033,216 shares during the period. Employees Retirement System of Texas bought a new position in shares of Digital Turbine in the second quarter worth approximately $594,000. Finally, Acadian Asset Management LLC increased its stake in shares of Digital Turbine by 107.2% in the second quarter. Acadian Asset Management LLC now owns 379,944 shares of the software maker’s stock worth $2,241,000 after buying an additional 196,535 shares during the period. 63.66% of the stock is owned by hedge funds and other institutional investors.

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.