Digital Turbine, Inc. (NASDAQ:APPS) Stock Has Average Target Price of $15.10

Shares of Digital Turbine, Inc. (NASDAQ:APPS) have earned a consensus recommendation of “Moderate Buy” from the eight ratings firms that are currently covering the stock, MarketBeat Ratings reports. One analyst has rated the stock with a sell recommendation, two have issued a hold recommendation and five have assigned a buy recommendation to the company. The average twelve-month price objective among brokerages that have covered the stock in the last year is $15.10.

APPS has been the subject of several analyst reports. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Digital Turbine in a report on Wednesday, September 2nd. TD Cowen reiterated a “hold” rating on shares of Digital Turbine in a research report on Tuesday, September 29th. Craig Hallum reissued a “buy” rating and set a $18.00 target price on shares of Digital Turbine in a report on Wednesday, August 5th. Zacks Research cut Digital Turbine from a “strong-buy” rating to a “hold” rating in a research report on Monday, July 27th. Finally, Roth Capital assumed coverage on Digital Turbine in a research report on Thursday, October 15th. They issued a “buy” rating and a $19.00 price target on the stock.

Digital Turbine Stock Down 2.6%

Shares of APPS opened at $9.91 on Thursday. The company has a current ratio of 1.20, a quick ratio of 1.20 and a debt-to-equity ratio of 1.80. Digital Turbine has a 12 month low of $2.74 and a 12 month high of $15.34. The firm’s 50 day moving average is $10.79 and its 200-day moving average is $7.50. The stock has a market capitalization of $1.20 billion, a PE ratio of -38.12, a P/E/G ratio of 0.47 and a beta of 3.02.

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 the consensus estimate of $0.14 by $0.05. The business had revenue of $165.98 million during the quarter, compared to analysts’ expectations of $149.98 million. Digital Turbine had a positive return on equity of 38.34% and a negative net margin of 4.46%. Equities research analysts forecast that Digital Turbine will post 0.68 EPS for the current year.

Institutional Investors Weigh In On Digital Turbine

A number of large investors have recently bought and sold shares of the company. Granahan Investment Management LLC increased its holdings in 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 buying an additional 762,888 shares during the period. AIGH Capital Management LLC bought a new stake in shares of Digital Turbine during the 1st quarter worth approximately $14,100,000. Bank of America Corp DE lifted its holdings in shares of 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 worth $10,423,000 after acquiring an additional 535,169 shares during the period. Dimensional Fund Advisors LP lifted its holdings in shares of 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 worth $6,778,000 after acquiring an additional 846,116 shares during the period. Finally, Bank of New York Mellon Corp acquired a new stake in shares of Digital Turbine during the 2nd quarter worth approximately $5,374,000. 63.66% of the stock is currently owned by institutional investors and hedge funds.

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.