Digital Turbine (NASDAQ:APPS) Shares Up 7.6% – Time to Buy?

Digital Turbine, Inc. (NASDAQ:APPS)’s stock price was up 7.6% during mid-day trading on Thursday. The stock traded as high as $10.30 and last traded at $10.2470. Approximately 997,404 shares traded hands during mid-day trading, a decline of 74% from the average session volume of 3,859,653 shares. The stock had previously closed at $9.52.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on APPS. Royal Bank Of Canada began coverage on Digital Turbine in a research note on Thursday, October 1st. They issued an “outperform” rating and a $15.00 target price on the stock. Craig Hallum reaffirmed a “buy” rating and issued a $18.00 price target on shares of Digital Turbine in a research note on Wednesday, August 5th. Benchmark increased their price target on shares of Digital Turbine from $15.00 to $16.00 and gave the company a “buy” rating in a research report on Wednesday, August 5th. Roth Capital started coverage on shares of Digital Turbine in a research note on Thursday. They set a “buy” rating and a $19.00 price objective on the stock. Finally, Weiss Ratings restated a “sell (e+)” rating on shares of Digital Turbine in a report on Wednesday, September 2nd. Five investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, Digital Turbine currently has an average rating of “Moderate Buy” and an average price target of $15.10.

Digital Turbine Stock Performance

The company has a current ratio of 1.20, a quick ratio of 1.20 and a debt-to-equity ratio of 1.80. The stock has a market capitalization of $1.25 billion, a price-to-earnings ratio of -39.57, a price-to-earnings-growth ratio of 0.44 and a beta of 3.02. The stock’s 50 day moving average is $11.37 and its two-hundred day moving average is $8.53.

Digital Turbine (NASDAQ:APPS) last posted its quarterly earnings data on Tuesday, August 4th. The software maker reported $0.19 EPS for the quarter, topping analysts’ consensus estimates of $0.14 by $0.05. The company had revenue of $165.98 million during 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%. Analysts expect that Digital Turbine, Inc. will post 0.75 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Digital Turbine

Several large investors have recently made changes to their positions in the stock. Granahan Investment Management LLC raised its holdings in shares of Digital Turbine by 12.0% in 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 purchasing an additional 762,888 shares during the period. AIGH Capital Management LLC bought a new stake in Digital Turbine in the 1st quarter valued at $14,100,000. Bank of America Corp DE lifted its holdings 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 purchasing an additional 535,169 shares during the last quarter. Dimensional Fund Advisors LP lifted its holdings in Digital Turbine by 56.1% during the 1st quarter. Dimensional Fund Advisors LP now owns 2,353,594 shares of the software maker’s stock valued at $6,778,000 after purchasing an additional 846,116 shares during the last quarter. Finally, Manatuck Hill Partners LLC boosted its position in Digital Turbine by 233.3% during the fourth quarter. Manatuck Hill Partners LLC now owns 2,000,000 shares of the software maker’s stock worth $10,000,000 after purchasing an additional 1,400,000 shares during the period. Institutional investors and hedge funds own 63.66% of the company’s stock.

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.