Digital Turbine, Inc. (NASDAQ:APPS) Stock Has Average Price Target of $14.80

Digital Turbine, Inc. (NASDAQ:APPS) has received a consensus recommendation of “Moderate Buy” from the eight research firms that are currently covering the stock, MarketBeat.com reports. One investment analyst has rated the stock with a sell recommendation, two have assigned a hold recommendation and five have assigned a buy recommendation to the company. The average 1-year target price among analysts that have issued ratings on the stock in the last year is $14.80.

A number of equities analysts have issued reports on APPS shares. Roth Capital reissued a “buy” rating and set a $17.50 price target on shares of Digital Turbine in a research report on Thursday, August 6th. Zacks Research downgraded shares of Digital Turbine from a “strong-buy” rating to a “hold” rating in a report on Monday, July 27th. Craig Hallum reiterated a “buy” rating and issued a $18.00 price objective on shares of Digital Turbine in a research note on Wednesday, August 5th. Royal Bank Of Canada started coverage on shares of Digital Turbine in a report on Thursday, October 1st. They set an “outperform” rating and a $15.00 target price for the company. Finally, Wall Street Zen upgraded Digital Turbine from a “buy” rating to a “strong-buy” rating in a research note on Saturday, August 29th.

Digital Turbine Stock Up 1.4%

APPS stock opened at $10.78 on Friday. The stock has a market capitalization of $1.30 billion, a PE ratio of -41.46, a price-to-earnings-growth ratio of 0.45 and a beta of 3.02. Digital Turbine has a 52 week low of $2.74 and a 52 week high of $15.34. The company has a quick ratio of 1.20, a current ratio of 1.20 and a debt-to-equity ratio of 1.80. The firm has a 50 day moving average of $11.35 and a 200 day moving average of $8.32.

Digital Turbine (NASDAQ:APPS) last issued its quarterly earnings results on Tuesday, August 4th. The software maker reported $0.19 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 business had revenue of $165.98 million for the quarter, compared to analyst estimates of $149.98 million. Sell-side analysts forecast that Digital Turbine will post 0.75 earnings per share for the current year.

Hedge Funds Weigh In On Digital Turbine

Several large investors have recently made changes to their positions in APPS. Allworth Financial LP grew its holdings in shares of Digital Turbine by 42.4% during the second quarter. Allworth Financial LP now owns 5,698 shares of the software maker’s stock worth $74,000 after purchasing an additional 1,696 shares during the last quarter. Diversified Trust Co lifted its holdings in shares of Digital Turbine by 14.6% in the 1st quarter. Diversified Trust Co now owns 30,131 shares of the software maker’s stock valued at $87,000 after purchasing an additional 3,831 shares during the last quarter. Cetera Investment Advisers lifted its holdings in shares of Digital Turbine by 22.2% in the 1st quarter. Cetera Investment Advisers now owns 23,832 shares of the software maker’s stock valued at $69,000 after purchasing an additional 4,323 shares during the last quarter. Integrated Wealth Concepts LLC acquired a new stake in shares of Digital Turbine in the 2nd quarter valued at about $56,000. Finally, Essential Partners LLC boosted its position in shares of Digital Turbine by 167.3% in the 1st quarter. Essential Partners LLC now owns 9,031 shares of the software maker’s stock valued at $26,000 after purchasing an additional 5,652 shares during the period. 63.66% of the stock is currently owned by institutional investors and hedge funds.

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.