Digital Turbine (NASDAQ:APPS) Raised to Buy at Bank of America

Digital Turbine (NASDAQ:APPS) was upgraded by research analysts at Bank of America from a “neutral” rating to a “buy” rating in a note issued to investors on Wednesday. The firm presently has a $7.50 target price on the software maker’s stock. Bank of America‘s price target indicates a potential upside of 55.93% from the company’s previous close.

A number of other equities research analysts have also commented on APPS. Zacks Research cut shares of Digital Turbine from a “strong-buy” rating to a “hold” rating in a research report on Monday, April 6th. Weiss Ratings restated a “sell (d-)” rating on shares of Digital Turbine in a research report on Friday, March 27th. Finally, Wall Street Zen raised shares of Digital Turbine from a “hold” rating to a “buy” rating in a research note on Saturday, May 9th. Two research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $8.75.

Digital Turbine Price Performance

APPS opened at $4.81 on Wednesday. The company has a debt-to-equity ratio of 1.80, a current ratio of 1.10 and a quick ratio of 1.10. The stock’s 50 day simple moving average is $3.55 and its 200 day simple moving average is $4.36. The firm has a market cap of $576.72 million, a price-to-earnings ratio of -10.02, a PEG ratio of 0.18 and a beta of 2.40. Digital Turbine has a 1 year low of $2.74 and a 1 year high of $8.28.

Digital Turbine (NASDAQ:APPS) last announced its quarterly earnings data on Tuesday, May 26th. The software maker reported $0.16 earnings per share for the quarter, beating the consensus estimate of $0.09 by $0.07. The firm had revenue of $142.55 million during the quarter, compared to the consensus estimate of $133.23 million. Digital Turbine had a positive return on equity of 21.26% and a negative net margin of 8.93%. As a group, analysts predict that Digital Turbine will post 0.21 earnings per share for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in APPS. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in Digital Turbine by 4.4% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 57,539 shares of the software maker’s stock worth $156,000 after purchasing an additional 2,449 shares in the last quarter. Goldman Sachs Group Inc. increased its position in shares of Digital Turbine by 74.8% during the first quarter. Goldman Sachs Group Inc. now owns 1,021,687 shares of the software maker’s stock valued at $2,774,000 after buying an additional 437,310 shares during the period. Strs Ohio bought a new position in Digital Turbine in the first quarter worth about $41,000. Creative Planning raised its stake in Digital Turbine by 39.2% in the second quarter. Creative Planning now owns 21,289 shares of the software maker’s stock worth $126,000 after buying an additional 5,991 shares in the last quarter. Finally, JPMorgan Chase & Co. lifted its holdings in Digital Turbine by 272.0% in the second quarter. JPMorgan Chase & Co. now owns 686,327 shares of the software maker’s stock worth $4,049,000 after buying an additional 501,829 shares during the period. 63.66% of the stock is owned by hedge funds and other institutional investors.

About Digital Turbine

Digital Turbine, Inc (NASDAQ: APPS) is a mobile technology company that streamlines content delivery and app advertising across connected devices. Its platform enables carriers, OEMs, app developers and advertisers to engage users through personalized app recommendations, in-app promotions and turnkey monetization solutions. By integrating software directly on smartphones and tablets, Digital Turbine simplifies the user journey from discovery to installation without requiring additional downloads or redirects through traditional app stores.

The company’s flagship Ignite Platform offers end-to-end campaign management, combining demand-side advertising, real-time analytics and automated content fulfillment.