Digital Turbine, Inc. (NASDAQ:APPS) Receives $8.75 Consensus PT from Brokerages

Digital Turbine, Inc. (NASDAQ:APPS) has received a consensus rating of “Buy” from the six analysts that are currently covering the firm, Marketbeat reports. One equities research analyst has rated the stock with a sell recommendation, three have given a buy recommendation and two have assigned a strong buy recommendation to the company. The average 12-month price objective among analysts that have covered the stock in the last year is $11.00.

Several analysts have recently issued reports on APPS shares. Bank of America raised shares of Digital Turbine from a “neutral” rating to a “buy” rating and set a $7.50 price target on the stock in a research report on Wednesday, May 27th. Wall Street Zen raised shares of Digital Turbine from a “buy” rating to a “strong-buy” rating in a report on Saturday, July 18th. Benchmark started coverage on Digital Turbine in a research report on Tuesday. They set a “buy” rating and a $15.00 target price on the stock. Roth Capital started coverage on Digital Turbine in a report on Tuesday. They issued a “buy” rating and a $11.50 price target for the company. Finally, Zacks Research upgraded Digital Turbine from a “hold” rating to a “strong-buy” rating in a research note on Thursday, May 28th.

Digital Turbine Stock Down 5.4%

APPS stock opened at $8.03 on Tuesday. The stock has a fifty day moving average of $8.94 and a 200-day moving average of $5.76. Digital Turbine has a fifty-two week low of $2.74 and a fifty-two week high of $13.60. The company has a market capitalization of $971.15 million, a price-to-earnings ratio of -22.30, a PEG ratio of 0.66 and a beta of 2.75. The company has a debt-to-equity ratio of 1.84, a quick ratio of 1.16 and a current ratio of 1.16.

Digital Turbine (NASDAQ:APPS) last released its quarterly earnings data on Tuesday, May 26th. The software maker reported $0.16 EPS for the quarter, beating the consensus estimate of $0.09 by $0.07. The business had revenue of $142.55 million for the quarter, compared to the consensus estimate of $133.22 million. Digital Turbine had a negative net margin of 6.68% and a positive return on equity of 27.60%. As a group, equities research analysts predict that Digital Turbine will post 0.68 earnings per share for the current year.

Hedge Funds Weigh In On Digital Turbine

A number of large investors have recently modified their holdings of the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in Digital Turbine by 4.4% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 57,539 shares of the software maker’s stock worth $156,000 after acquiring an additional 2,449 shares during the period. Goldman Sachs Group Inc. grew its position in shares of Digital Turbine by 74.8% during the 1st quarter. Goldman Sachs Group Inc. now owns 1,021,687 shares of the software maker’s stock valued at $2,774,000 after purchasing an additional 437,310 shares in the last quarter. Strs Ohio purchased a new position in shares of Digital Turbine during the 1st quarter valued at $41,000. Creative Planning increased its holdings in shares of 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 purchasing an additional 5,991 shares during the period. Finally, JPMorgan Chase & Co. raised its position in shares of 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 in the last quarter. 63.66% of the stock is currently owned by institutional investors.

Digital Turbine Company Profile

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.