Digital Turbine, Inc. (NASDAQ:APPS) Receives Consensus Rating of “Buy” from Brokerages

Digital Turbine, Inc. (NASDAQ:APPSGet Rating) has earned a consensus rating of “Buy” from the seven analysts that are covering the firm, MarketBeat reports. One equities research analyst has rated the stock with a sell recommendation, one has assigned a hold recommendation and four have given a buy recommendation to the company. The average 12 month price target among brokerages that have issued a report on the stock in the last year is $104.75.

Several equities analysts have recently commented on APPS shares. StockNews.com assumed coverage on shares of Digital Turbine in a report on Thursday, March 31st. They issued a “sell” rating on the stock. Macquarie decreased their price target on shares of Digital Turbine from $80.00 to $70.00 and set an “outperform” rating on the stock in a research note on Wednesday, February 9th.

NASDAQ APPS opened at $27.39 on Friday. The company has a quick ratio of 0.70, a current ratio of 0.70 and a debt-to-equity ratio of 0.70. Digital Turbine has a twelve month low of $21.60 and a twelve month high of $93.98. The business has a 50-day moving average price of $36.93 and a 200-day moving average price of $49.09. The firm has a market cap of $2.66 billion, a price-to-earnings ratio of 59.54, a price-to-earnings-growth ratio of 0.25 and a beta of 2.34.

Digital Turbine (NASDAQ:APPSGet Rating) last posted its quarterly earnings results on Tuesday, February 8th. The software maker reported $0.43 earnings per share for the quarter, topping the consensus estimate of $0.36 by $0.07. Digital Turbine had a return on equity of 33.35% and a net margin of 4.58%. The business had revenue of $375.50 million during the quarter, compared to the consensus estimate of $353.21 million. During the same period in the prior year, the company posted $0.21 EPS. The firm’s revenue for the quarter was up 323.8% compared to the same quarter last year. Research analysts expect that Digital Turbine will post 1.46 EPS for the current fiscal year.

In related news, Director Robert M. Deutschman acquired 15,000 shares of the firm’s stock in a transaction on Monday, March 14th. The shares were acquired at an average cost of $31.66 per share, for a total transaction of $474,900.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Michelle M. Sterling bought 1,000 shares of the company’s stock in a transaction dated Monday, March 7th. The stock was bought at an average price of $36.79 per share, with a total value of $36,790.00. The disclosure for this purchase can be found here. 5.60% of the stock is owned by corporate insiders.

Hedge funds have recently bought and sold shares of the business. Charles Schwab Investment Management Inc. raised its stake in shares of Digital Turbine by 2.8% in the first quarter. Charles Schwab Investment Management Inc. now owns 679,844 shares of the software maker’s stock valued at $29,784,000 after acquiring an additional 18,344 shares during the period. S Squared Technology LLC grew its holdings in Digital Turbine by 14.2% during the 1st quarter. S Squared Technology LLC now owns 261,285 shares of the software maker’s stock valued at $11,447,000 after purchasing an additional 32,500 shares during the last quarter. Renaissance Group LLC raised its position in Digital Turbine by 9.7% in the 1st quarter. Renaissance Group LLC now owns 22,228 shares of the software maker’s stock worth $974,000 after purchasing an additional 1,963 shares during the period. Beaconlight Capital LLC bought a new stake in Digital Turbine in the first quarter worth about $1,776,000. Finally, Gabelli Funds LLC lifted its stake in Digital Turbine by 220.0% in the first quarter. Gabelli Funds LLC now owns 16,000 shares of the software maker’s stock worth $701,000 after purchasing an additional 11,000 shares during the last quarter. Institutional investors and hedge funds own 63.38% of the company’s stock.

About Digital Turbine (Get Rating)

Digital Turbine, Inc, through its subsidiaries, provides media and mobile communication products and solutions for mobile operators, application advertisers, publishers, device original equipment manufacturers (OEMs), and other third parties. Its application media software platform that enables mobile operators and OEMs to control, manage, and monetize devices.

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