Digital Turbine (NASDAQ:APPS) Sets New 12-Month High – Here’s What Happened

Digital Turbine, Inc. (NASDAQ:APPS)’s stock price hit a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $10.07 and last traded at $9.35, with a volume of 8597603 shares changing hands. The stock had previously closed at $9.01.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on APPS shares. Wall Street Zen upgraded Digital Turbine from a “hold” rating to a “buy” rating in a research report on Saturday, May 9th. Bank of America upgraded Digital Turbine from a “neutral” rating to a “buy” rating and set a $7.50 price objective on the stock in a research report on Wednesday, May 27th. Weiss Ratings downgraded Digital Turbine from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Friday. Finally, Zacks Research upgraded Digital Turbine from a “hold” rating to a “strong-buy” rating in a research report on Thursday, May 28th. One equities research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $8.75.

Digital Turbine Price Performance

The company has a 50-day moving average of $4.54 and a two-hundred day moving average of $4.56. The stock has a market capitalization of $1.13 billion, a PE ratio of -25.97, a P/E/G ratio of 0.70 and a beta of 2.84. The company has a debt-to-equity ratio of 1.84, a current ratio of 1.16 and a quick ratio of 1.16.

Digital Turbine (NASDAQ:APPS) last released its earnings results on Tuesday, May 26th. The software maker reported $0.16 earnings per share for the quarter, topping the consensus estimate of $0.09 by $0.07. Digital Turbine had a positive return on equity of 27.60% and a negative net margin of 6.68%.The firm had revenue of $142.55 million for the quarter, compared to the consensus estimate of $133.23 million. Sell-side analysts predict that Digital Turbine, Inc. will post 0.68 EPS for the current fiscal year.

Hedge Funds Weigh In On Digital Turbine

A number of large investors have recently modified their holdings of the company. Creative Planning raised its holdings in shares of Digital Turbine by 9.4% in the 3rd quarter. Creative Planning now owns 23,286 shares of the software maker’s stock worth $149,000 after purchasing an additional 1,997 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in shares of Digital Turbine by 4.4% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 57,539 shares of the software maker’s stock worth $156,000 after purchasing an additional 2,449 shares during the period. O Shaughnessy Asset Management LLC raised its holdings in shares of Digital Turbine by 23.8% in the 4th quarter. O Shaughnessy Asset Management LLC now owns 13,180 shares of the software maker’s stock worth $66,000 after purchasing an additional 2,536 shares during the period. Legal & General Group Plc raised its holdings in shares of Digital Turbine by 31.6% in the 2nd quarter. Legal & General Group Plc now owns 10,624 shares of the software maker’s stock worth $63,000 after purchasing an additional 2,550 shares during the period. Finally, Osaic Holdings Inc. raised its holdings in shares of Digital Turbine by 22.5% in the 2nd quarter. Osaic Holdings Inc. now owns 18,073 shares of the software maker’s stock worth $107,000 after purchasing an additional 3,322 shares during the period. 63.66% of the stock is currently owned by hedge funds and other institutional investors.

About Digital Turbine

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.