Digital Turbine (NASDAQ:APPS) Trading 11.8% Higher – Here’s Why

Shares of Digital Turbine, Inc. (NASDAQ:APPS) rose 11.8% on Monday . The company traded as high as $5.91 and last traded at $6.04. Approximately 1,943,803 shares traded hands during trading, a decline of 64% from the average daily volume of 5,420,408 shares. The stock had previously closed at $5.40.

Analyst Upgrades and Downgrades

APPS has been the subject of a number of recent analyst reports. Craig Hallum lifted their target price on Digital Turbine from $7.00 to $8.00 and gave the company a “buy” rating in a report on Wednesday, August 6th. Wall Street Zen lowered Digital Turbine from a “buy” rating to a “hold” rating in a report on Saturday, August 9th. Finally, Bank of America raised Digital Turbine from an “underperform” rating to a “neutral” rating and lifted their target price for the company from $4.50 to $5.50 in a report on Wednesday, August 6th. One research analyst has rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to MarketBeat.com, Digital Turbine has a consensus rating of “Hold” and an average price target of $5.17.

Digital Turbine Stock Up 10.0%

The company has a debt-to-equity ratio of 2.63, a current ratio of 1.09 and a quick ratio of 1.09. The company has a market cap of $643.78 million, a PE ratio of -7.71, a price-to-earnings-growth ratio of 3.45 and a beta of 2.29. The company has a fifty day moving average price of $4.76 and a 200 day moving average price of $4.40.

Digital Turbine (NASDAQ:APPS) last issued its quarterly earnings data on Tuesday, August 5th. The software maker reported $0.05 EPS for the quarter, missing the consensus estimate of $0.10 by ($0.05). The business had revenue of $130.93 million for the quarter, compared to analysts’ expectations of $121.94 million. Digital Turbine had a positive return on equity of 2.24% and a negative net margin of 15.93%. Digital Turbine has set its FY 2026 guidance at EPS. As a group, analysts anticipate that Digital Turbine, Inc. will post -0.03 EPS for the current year.

Hedge Funds Weigh In On Digital Turbine

Several hedge funds have recently made changes to their positions in APPS. Harbor Capital Advisors Inc. purchased a new position in shares of Digital Turbine during the second quarter valued at approximately $12,031,000. Arrowstreet Capital Limited Partnership increased its stake in shares of Digital Turbine by 179.9% during the second quarter. Arrowstreet Capital Limited Partnership now owns 3,163,124 shares of the software maker’s stock valued at $18,662,000 after buying an additional 2,033,216 shares during the period. G2 Investment Partners Management LLC purchased a new position in shares of Digital Turbine during the second quarter valued at approximately $8,341,000. Segall Bryant & Hamill LLC purchased a new position in shares of Digital Turbine during the first quarter valued at approximately $2,710,000. Finally, Invesco Ltd. increased its stake in shares of Digital Turbine by 240.9% during the second quarter. Invesco Ltd. now owns 1,295,618 shares of the software maker’s stock valued at $7,644,000 after buying an additional 915,536 shares during the period. 63.66% of the stock is owned by hedge funds and other institutional investors.

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.