Digital Turbine (NASDAQ:APPS) Raised to “Strong-Buy” at Zacks Research

Digital Turbine (NASDAQ:APPS) was upgraded by stock analysts at Zacks Research from a “hold” rating to a “strong-buy” rating in a report issued on Thursday,Zacks.com reports.

Several other research analysts also recently weighed in on APPS. Bank of America upgraded Digital Turbine from a “neutral” rating to a “buy” rating and set a $7.50 target price on the stock in a research note on Wednesday. Wall Street Zen raised Digital Turbine from a “hold” rating to a “buy” rating in a report on Saturday, May 9th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Digital Turbine in a report on Friday, March 27th. One equities research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, Digital Turbine has a consensus rating of “Moderate Buy” and a consensus price target of $8.75.

Digital Turbine Trading Up 4.5%

APPS opened at $8.78 on Thursday. Digital Turbine has a one year low of $2.74 and a one year high of $9.26. The company has a market cap of $1.06 billion, a P/E ratio of -24.39, a PEG ratio of 0.64 and a beta of 2.40. The company has a debt-to-equity ratio of 1.84, a quick ratio of 1.10 and a current ratio of 1.16. The business’s 50-day simple moving average is $3.82 and its 200-day simple moving average is $4.41.

Digital Turbine (NASDAQ:APPS) last posted 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 business 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 27.60% and a negative net margin of 6.68%. As a group, equities research analysts expect that Digital Turbine will post 0.69 EPS for the current fiscal year.

Institutional Investors Weigh In On Digital Turbine

A number of hedge funds and other institutional investors have recently made changes to their positions in APPS. AIGH Capital Management LLC purchased a new stake in shares of Digital Turbine in the first quarter valued at $14,100,000. Granahan Investment Management LLC grew its position in shares of Digital Turbine by 77.2% in the third quarter. Granahan Investment Management LLC now owns 5,713,937 shares of the software maker’s stock valued at $36,569,000 after purchasing an additional 2,489,376 shares during the period. Invesco Ltd. grew its position in shares of Digital Turbine by 369.0% in the fourth quarter. Invesco Ltd. now owns 1,829,003 shares of the software maker’s stock valued at $9,145,000 after purchasing an additional 1,438,986 shares during the period. Manatuck Hill Partners LLC grew its position in shares of Digital Turbine by 233.3% in the fourth quarter. Manatuck Hill Partners LLC now owns 2,000,000 shares of the software maker’s stock valued at $10,000,000 after purchasing an additional 1,400,000 shares during the period. Finally, Dimensional Fund Advisors LP grew its position in shares of Digital Turbine by 56.1% in 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 purchasing an additional 846,116 shares during the period. Hedge funds and other institutional investors own 63.66% of the company’s stock.

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.