Digital Turbine (NASDAQ:APPS) Hits New 52-Week High on Better-Than-Expected Earnings

Digital Turbine, Inc. (NASDAQ:APPS) shares hit a new 52-week high during trading on Wednesday after the company announced better than expected quarterly earnings. The stock traded as high as $13.98 and last traded at $13.98, with a volume of 5630249 shares trading hands. The stock had previously closed at $9.51.

The software maker reported $0.19 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.14 by $0.05. The business had revenue of $165.98 million for the quarter, compared to the consensus estimate of $149.98 million. Digital Turbine had a negative net margin of 4.46% and a positive return on equity of 38.34%.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on the company. Roth Capital reiterated a “buy” rating and issued a $17.50 price objective on shares of Digital Turbine in a report on Thursday. Wall Street Zen upgraded shares of Digital Turbine from a “buy” rating to a “strong-buy” rating in a report on Saturday, July 18th. Bank of America raised shares of Digital Turbine from a “neutral” rating to a “buy” rating and set a $7.50 price target for the company in a research report on Wednesday, May 27th. Benchmark upped their price objective on Digital Turbine from $15.00 to $16.00 and gave the stock a “buy” rating in a research report on Wednesday. Finally, Weiss Ratings cut Digital Turbine from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Friday, June 5th. Four investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $14.75.

Institutional Trading of Digital Turbine

A number of large investors have recently made changes to their positions in APPS. Essential Partners LLC lifted its stake in Digital Turbine by 167.3% in the first 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 during the last quarter. Quarry LP raised its holdings in shares of Digital Turbine by 1,323.4% in the 4th quarter. Quarry LP now owns 5,594 shares of the software maker’s stock valued at $28,000 after purchasing an additional 5,201 shares in the last quarter. Verus Capital Partners LLC acquired a new stake in shares of Digital Turbine in the 1st quarter valued at $35,000. Strs Ohio purchased a new stake in shares of Digital Turbine during the 1st quarter worth $41,000. Finally, Caitong International Asset Management Co. Ltd purchased a new stake in shares of Digital Turbine during the 4th quarter worth $44,000. 63.66% of the stock is currently owned by hedge funds and other institutional investors.

Digital Turbine Trading Up 8.4%

The company has a debt-to-equity ratio of 1.80, a quick ratio of 1.16 and a current ratio of 1.20. The company’s 50-day moving average price is $9.85 and its 200-day moving average price is $6.08. The firm has a market capitalization of $1.73 billion, a PE ratio of -54.88, a PEG ratio of 1.02 and a beta of 2.81.

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.