Digital Turbine (NASDAQ:APPS) Trading 7.7% Higher – Time to Buy?

Digital Turbine, Inc. (NASDAQ:APPS)’s share price was up 7.7% during mid-day trading on Tuesday . The stock traded as high as $5.06 and last traded at $4.9950. Approximately 813,223 shares were traded during mid-day trading, a decline of 84% from the average daily volume of 4,960,387 shares. The stock had previously closed at $4.64.

Analyst Upgrades and Downgrades

APPS has been the topic of several research analyst reports. Craig Hallum restated a “buy” rating and set a $10.00 target price on shares of Digital Turbine in a report on Wednesday, November 5th. Zacks Research upgraded shares of Digital Turbine from a “hold” rating to a “strong-buy” rating in a report on Thursday, November 6th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Digital Turbine in a research note on Monday, December 8th. One equities research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $7.75.

Digital Turbine Price Performance

The company’s fifty day moving average is $5.68 and its 200 day moving average is $5.33. The firm has a market cap of $559.07 million, a price-to-earnings ratio of -6.80, a PEG ratio of 1.41 and a beta of 2.30. The company has a quick ratio of 1.10, a current ratio of 1.10 and a debt-to-equity ratio of 2.66.

Digital Turbine (NASDAQ:APPS) last issued its quarterly earnings results on Tuesday, November 4th. The software maker reported $0.15 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.06 by $0.09. Digital Turbine had a negative net margin of 14.59% and a positive return on equity of 12.12%. The firm had revenue of $140.38 million for the quarter, compared to analyst estimates of $142.00 million. On average, equities research analysts predict that Digital Turbine, Inc. will post -0.03 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the stock. State of Alaska Department of Revenue bought a new position in shares of Digital Turbine in the third quarter valued at $31,000. Smartleaf Asset Management LLC bought a new position in Digital Turbine during the second quarter worth $57,000. Legal & General Group Plc increased its holdings in shares of Digital Turbine by 31.6% in the second quarter. Legal & General Group Plc now owns 10,624 shares of the software maker’s stock valued at $63,000 after purchasing an additional 2,550 shares during the last quarter. CIBC Bancorp USA Inc. bought a new position in shares of Digital Turbine in the third quarter valued at about $71,000. Finally, State of Wyoming acquired a new stake in shares of Digital Turbine during the 2nd quarter worth about $72,000. Institutional investors and hedge funds own 63.66% of the company’s stock.

About Digital Turbine

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.