Digital Turbine Inc (NASDAQ:APPS) has been assigned a consensus recommendation of “Buy” from the nine analysts that are currently covering the firm, MarketBeat reports. Six equities research analysts have rated the stock with a buy recommendation and two have issued a strong buy recommendation on the company. The average 12 month price target among brokers that have covered the stock in the last year is $5.56.
A number of equities analysts have issued reports on the company. B. Riley increased their price objective on Digital Turbine from $6.00 to $6.00 and gave the stock a “buy” rating in a report on Wednesday, June 19th. National Securities restated a “buy” rating and set a $4.50 price target on shares of Digital Turbine in a report on Tuesday, June 4th. Zacks Investment Research upgraded Digital Turbine from a “hold” rating to a “buy” rating and set a $5.75 price target for the company in a report on Tuesday, July 2nd. LADENBURG THALM/SH SH raised their price target on Digital Turbine from $4.50 to $5.10 and gave the company a “buy” rating in a report on Tuesday, June 4th. Finally, ValuEngine upgraded Digital Turbine from a “buy” rating to a “strong-buy” rating in a report on Thursday, June 27th.
APPS traded down $0.26 during trading on Friday, reaching $7.22. The stock had a trading volume of 3,235,281 shares, compared to its average volume of 2,879,059. The stock’s 50 day moving average is $5.72 and its two-hundred day moving average is $4.21. The company has a market capitalization of $620.91 million, a price-to-earnings ratio of 144.40 and a beta of 1.83. Digital Turbine has a one year low of $1.12 and a one year high of $7.81.
Digital Turbine (NASDAQ:APPS) last posted its quarterly earnings data on Monday, August 5th. The software maker reported $0.04 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.03 by $0.01. The business had revenue of $30.55 million during the quarter, compared to the consensus estimate of $28.39 million. Digital Turbine had a positive return on equity of 23.70% and a negative net margin of 7.42%. Research analysts predict that Digital Turbine will post 0.17 EPS for the current year.
In other news, Director Paul M. Schaeffer sold 150,000 shares of the firm’s stock in a transaction on Monday, June 10th. The stock was sold at an average price of $4.47, for a total transaction of $670,500.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Paul M. Schaeffer sold 31,847 shares of the firm’s stock in a transaction on Thursday, June 6th. The shares were sold at an average price of $4.54, for a total value of $144,585.38. The disclosure for this sale can be found here. 5.80% of the stock is owned by company insiders.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in APPS. Jane Street Group LLC increased its position in shares of Digital Turbine by 495.4% during the 2nd quarter. Jane Street Group LLC now owns 274,799 shares of the software maker’s stock valued at $1,374,000 after purchasing an additional 228,647 shares during the last quarter. Cubist Systematic Strategies LLC bought a new position in shares of Digital Turbine during the 2nd quarter valued at approximately $292,000. Invesco Ltd. bought a new position in shares of Digital Turbine during the 2nd quarter valued at approximately $2,847,000. Vanguard Group Inc. increased its position in shares of Digital Turbine by 35.9% during the 2nd quarter. Vanguard Group Inc. now owns 3,560,468 shares of the software maker’s stock valued at $17,802,000 after purchasing an additional 940,198 shares during the last quarter. Finally, Ellington Management Group LLC bought a new position in shares of Digital Turbine during the 2nd quarter valued at approximately $214,000. Institutional investors own 35.10% of the company’s stock.
Digital Turbine Company Profile
Digital Turbine, Inc, through its subsidiaries, provides media and mobile communication solutions for mobile operators, application developers, device original equipment manufacturers, and other third parties worldwide. The company offers Ignite, a mobile application management software to control, manage, and monetize the applications that are installed on mobile devices and professional services directly related to the ignite platform.
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