Digital Turbine, Inc. (NASDAQ:APPS) Receives $102.00 Consensus Price Target from Analysts

Shares of Digital Turbine, Inc. (NASDAQ:APPS) have earned a consensus rating of “Buy” from the ten analysts that are covering the company, Marketbeat Ratings reports. Two investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. The average 1 year price objective among brokerages that have covered the stock in the last year is $102.00.

A number of brokerages have recently weighed in on APPS. TheStreet lowered Digital Turbine from a “b” rating to a “c+” rating in a research note on Wednesday, November 10th. Zacks Investment Research lowered Digital Turbine from a “buy” rating to a “hold” rating in a research note on Tuesday, October 12th. Maxim Group restated a “buy” rating and set a $132.00 price target on shares of Digital Turbine in a research note on Friday, September 17th. Macquarie initiated coverage on Digital Turbine in a research report on Tuesday, August 31st. They issued a “neutral” rating and a $60.00 target price on the stock. Finally, Canaccord Genuity upped their target price on Digital Turbine from $95.00 to $100.00 and gave the company a “buy” rating in a research report on Wednesday, November 3rd.

In related news, Director Michelle M. Sterling acquired 1,000 shares of the stock in a transaction on Wednesday, November 24th. The shares were acquired at an average price of $56.98 per share, for a total transaction of $56,980.00. The purchase was disclosed in a filing with the SEC, which is available at this link. Corporate insiders own 5.60% of the company’s stock.

Hedge funds have recently made changes to their positions in the company. Arkadios Wealth Advisors acquired a new position in shares of Digital Turbine during the 2nd quarter worth approximately $27,000. Edge Wealth Management LLC acquired a new position in shares of Digital Turbine during the 3rd quarter worth approximately $31,000. NEXT Financial Group Inc raised its stake in shares of Digital Turbine by 34.5% during the 2nd quarter. NEXT Financial Group Inc now owns 780 shares of the software maker’s stock worth $59,000 after buying an additional 200 shares during the period. IFP Advisors Inc raised its stake in shares of Digital Turbine by 77.5% during the 2nd quarter. IFP Advisors Inc now owns 1,427 shares of the software maker’s stock worth $108,000 after buying an additional 623 shares during the period. Finally, Systematic Alpha Investments LLC acquired a new position in shares of Digital Turbine during the 2nd quarter worth approximately $108,000. 55.53% of the stock is owned by institutional investors and hedge funds.

Digital Turbine stock traded up $0.49 during trading hours on Friday, reaching $56.34. The stock had a trading volume of 2,072,255 shares, compared to its average volume of 3,555,662. The company has a market cap of $5.44 billion, a price-to-earnings ratio of 104.34, a PEG ratio of 0.90 and a beta of 2.12. The company has a debt-to-equity ratio of 0.50, a current ratio of 0.54 and a quick ratio of 0.54. The business’s 50 day moving average price is $73.40 and its 200-day moving average price is $67.08. Digital Turbine has a 52 week low of $37.54 and a 52 week high of $102.56.

Digital Turbine (NASDAQ:APPS) last issued its quarterly earnings results on Tuesday, November 2nd. The software maker reported $0.44 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.32 by $0.12. Digital Turbine had a return on equity of 35.19% and a net margin of 7.50%. During the same quarter last year, the business earned $0.12 EPS. On average, sell-side analysts forecast that Digital Turbine will post 1.35 EPS for the current fiscal year.

Digital Turbine Company Profile

Digital Turbine, Inc engages in the innovation of media and mobile communications which helps to deliver an end-to-end platform solution for mobile operators, application developers, device original equipment manufacturers (OEM), and other third parties. It operates through the Media Distribution segment, which consists of products and services that simplify the discovery and delivery of mobile applications and content media for consumers.

See Also: What is a support level?

Analyst Recommendations for Digital Turbine (NASDAQ:APPS)

Receive News & Ratings for Digital Turbine Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Digital Turbine and related companies with MarketBeat.com's FREE daily email newsletter.