Digital Turbine, Inc. (NASDAQ:APPS)’s share price was up 5.8% during mid-day trading on Thursday . The company traded as high as $86.70 and last traded at $86.50. Approximately 23,917 shares were traded during trading, a decline of 99% from the average daily volume of 4,028,036 shares. The stock had previously closed at $81.74.
A number of brokerages recently weighed in on APPS. Maxim Group increased their price target on shares of Digital Turbine from $85.00 to $111.00 and gave the company a “buy” rating in a research report on Tuesday, March 30th. Roth Capital increased their price target on shares of Digital Turbine from $100.00 to $115.00 and gave the company a “buy” rating in a research report on Monday, March 29th. Canaccord Genuity downgraded shares of Digital Turbine from a “buy” rating to a “hold” rating and set a $60.00 price target on the stock. in a research report on Monday, December 21st. TheStreet downgraded shares of Digital Turbine from a “b” rating to a “c+” rating in a research report on Tuesday, February 9th. Finally, Zacks Investment Research downgraded shares of Digital Turbine from a “buy” rating to a “hold” rating in a research report on Tuesday. Two equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company. Digital Turbine presently has a consensus rating of “Buy” and an average target price of $78.06.
The business has a 50 day moving average of $80.73 and a 200-day moving average of $56.10. The company has a current ratio of 0.89, a quick ratio of 0.89 and a debt-to-equity ratio of 0.18. The firm has a market capitalization of $7.95 billion, a P/E ratio of 288.34, a PEG ratio of 2.07 and a beta of 2.42.
Digital Turbine (NASDAQ:APPS) last posted its earnings results on Tuesday, February 2nd. The software maker reported $0.21 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.18 by $0.03. Digital Turbine had a return on equity of 38.26% and a net margin of 13.38%. The business had revenue of $88.59 million during the quarter, compared to analysts’ expectations of $75.86 million. During the same period in the prior year, the business earned $0.05 EPS. Digital Turbine’s revenue for the quarter was up 146.0% compared to the same quarter last year. On average, analysts anticipate that Digital Turbine, Inc. will post 0.54 EPS for the current fiscal year.
In related news, CAO David Wesch sold 25,000 shares of the stock in a transaction that occurred on Monday, February 8th. The stock was sold at an average price of $88.23, for a total transaction of $2,205,750.00. Following the completion of the sale, the chief accounting officer now directly owns 25,000 shares of the company’s stock, valued at approximately $2,205,750. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 6.20% of the stock is currently owned by corporate insiders.
Institutional investors and hedge funds have recently modified their holdings of the company. Tsfg LLC bought a new position in shares of Digital Turbine during the 4th quarter worth approximately $28,000. Navis Wealth Advisors LLC bought a new position in shares of Digital Turbine during the 4th quarter worth approximately $28,000. RMR Wealth Builders bought a new position in shares of Digital Turbine during the 4th quarter worth approximately $28,000. Neo Ivy Capital Management bought a new position in shares of Digital Turbine during the 4th quarter worth approximately $31,000. Finally, Global Retirement Partners LLC grew its stake in shares of Digital Turbine by 475.2% during the 4th quarter. Global Retirement Partners LLC now owns 880 shares of the software maker’s stock worth $50,000 after acquiring an additional 727 shares in the last quarter. 60.69% of the stock is owned by institutional investors.
Digital Turbine Company Profile (NASDAQ:APPS)
Digital Turbine, Inc, through its subsidiaries, provides media and mobile communication products and solutions for mobile operators, application advertisers, device original equipment manufacturers, and other third parties worldwide. Its software platform that enables mobile operators and OEMs to control, manage, and monetize devices.
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