Digital Turbine (NASDAQ:APPS) Price Target Raised to $7.00

Digital Turbine (NASDAQ:APPS) had its price objective upped by Craig Hallum from $4.00 to $7.00 in a research note released on Tuesday,Benzinga reports. The brokerage currently has a buy rating on the software maker’s stock.

Separately, Wall Street Zen downgraded shares of Digital Turbine from a “hold” rating to a “sell” rating in a research note on Monday, March 24th.

Digital Turbine Stock Performance

APPS stock opened at $6.74 on Tuesday. The company has a 50 day moving average price of $4.19 and a 200 day moving average price of $3.28. Digital Turbine has a fifty-two week low of $1.18 and a fifty-two week high of $7.77. The company has a debt-to-equity ratio of 2.66, a current ratio of 1.09 and a quick ratio of 1.06. The stock has a market capitalization of $721.05 million, a PE ratio of -7.57 and a beta of 2.58.

Digital Turbine (NASDAQ:APPS) last released its earnings results on Monday, June 16th. The software maker reported $0.10 EPS for the quarter, beating the consensus estimate of $0.05 by $0.05. Digital Turbine had a positive return on equity of 1.89% and a negative net margin of 18.61%. The company had revenue of $119.15 million during the quarter, compared to analysts’ expectations of $116.64 million. During the same period last year, the firm earned $0.12 EPS. Analysts forecast that Digital Turbine will post -0.03 EPS for the current year.

Institutional Investors Weigh In On Digital Turbine

A number of institutional investors have recently made changes to their positions in APPS. SBI Securities Co. Ltd. bought a new position in Digital Turbine during the fourth quarter worth about $28,000. Plancorp LLC acquired a new stake in shares of Digital Turbine in the 4th quarter valued at approximately $35,000. Strs Ohio bought a new position in Digital Turbine during the 1st quarter worth approximately $41,000. Caitong International Asset Management Co. Ltd bought a new position in Digital Turbine during the 1st quarter worth approximately $45,000. Finally, Cetera Investment Advisers grew its holdings in Digital Turbine by 94.3% during the fourth quarter. Cetera Investment Advisers now owns 27,436 shares of the software maker’s stock valued at $46,000 after purchasing an additional 13,317 shares during the period. 63.66% of the stock is owned by institutional investors and hedge funds.

Digital Turbine Company Profile

Digital Turbine, Inc, through its subsidiaries, operates a mobile growth platform for advertisers, publishers, carriers, and device original equipment manufacturers (OEMs). The company operates through two segments, On Device Solutions and App Growth Platform. Its application media platform delivers mobile applications to various publishers, carriers, OEMs, and devices; and content media platform offers news, weather, sports, and other content, as well as programmatic advertising and media content delivery services, and sponsored and editorial content media.