Digital Turbine (NASDAQ:APPS) Research Coverage Started at Northland Securities

Northland Securities started coverage on shares of Digital Turbine (NASDAQ:APPS) in a research note issued to investors on Thursday morning, MarketBeat.com reports. The brokerage issued an outperform rating and a $17.00 target price on the software maker’s stock.

A number of other equities analysts have also recently weighed in on the company. Zacks Research cut Digital Turbine from a “strong-buy” rating to a “hold” rating in a report on Monday, July 27th. Wall Street Zen upgraded Digital Turbine from a “buy” rating to a “strong-buy” rating in a research report on Saturday, August 29th. Weiss Ratings reissued a “sell (e+)” rating on shares of Digital Turbine in a report on Wednesday, September 2nd. Benchmark raised their price objective on Digital Turbine from $15.00 to $16.00 and gave the company a “buy” rating in a report on Wednesday, August 5th. Finally, Royal Bank Of Canada initiated coverage on Digital Turbine in a research report on Thursday, October 1st. They issued an “outperform” rating and a $15.00 price objective for the company. Six investment analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, Digital Turbine has an average rating of “Moderate Buy” and a consensus price target of $15.42.

Digital Turbine Stock Performance

Shares of NASDAQ APPS opened at $8.87 on Thursday. The company’s fifty day moving average price is $10.74 and its 200 day moving average price is $7.54. Digital Turbine has a 1 year low of $2.74 and a 1 year high of $15.34. The company has a market capitalization of $1.07 billion, a PE ratio of -34.12, a price-to-earnings-growth ratio of 0.42 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.

Digital Turbine (NASDAQ:APPS) last released its quarterly earnings results on Tuesday, August 4th. The software maker reported $0.19 EPS for the quarter, beating the consensus estimate of $0.14 by $0.05. The company had revenue of $165.98 million for the quarter, compared to analyst estimates of $149.98 million. Digital Turbine had a negative net margin of 4.46% and a positive return on equity of 38.34%. On average, research analysts predict that Digital Turbine will post 0.68 earnings per share for the current year.

Institutional Trading of Digital Turbine

Institutional investors have recently modified their holdings of the stock. Dimensional Fund Advisors LP raised its holdings in shares of Digital Turbine by 56.1% during the first quarter. Dimensional Fund Advisors LP now owns 2,353,594 shares of the software maker’s stock valued at $6,778,000 after acquiring an additional 846,116 shares during the last quarter. GC Wealth Management RIA LLC lifted its position in shares of Digital Turbine by 41.9% in the first quarter. GC Wealth Management RIA LLC now owns 576,273 shares of the software maker’s stock valued at $1,660,000 after acquiring an additional 170,134 shares in the last quarter. Granahan Investment Management LLC lifted its position in shares of Digital Turbine by 12.0% in the first quarter. Granahan Investment Management LLC now owns 7,112,351 shares of the software maker’s stock valued at $20,484,000 after acquiring an additional 762,888 shares in the last quarter. Globeflex Capital L P purchased a new position in shares of Digital Turbine in the first quarter valued at approximately $1,227,000. Finally, AIGH Capital Management LLC acquired a new stake in shares of Digital Turbine in the first quarter worth approximately $14,100,000. Institutional investors and hedge funds own 63.66% of the company’s stock.

About Digital Turbine

Digital Turbine, Inc (NASDAQ: APPS) is a mobile advertising and application distribution company that helps advertisers, mobile carriers, device manufacturers and application developers connect with smartphone users. Its platform is designed to support the discovery, distribution, promotion and monetization of mobile applications and digital content.

The company provides technology that can be integrated into mobile devices and operating systems, including tools for app recommendations, device setup and application installation.