Digital Turbine (NASDAQ:APPS) Coverage Initiated by Analysts at Roth Capital

Research analysts at Roth Capital initiated coverage on shares of Digital Turbine (NASDAQ:APPS) in a report released on Thursday, Marketbeat reports. The firm set a “buy” rating and a $19.00 price target on the software maker’s stock. Roth Capital’s target price would suggest a potential upside of 98.74% from the stock’s current price.

A number of other analysts have also issued reports on APPS. TD Cowen reissued a “hold” rating on shares of Digital Turbine in a research note on Tuesday, September 29th. Wall Street Zen raised shares of Digital Turbine from a “buy” rating to a “strong-buy” rating in a research note on Saturday, August 29th. Craig Hallum reaffirmed a “buy” rating and set a $18.00 price objective on shares of Digital Turbine in a research note on Wednesday, August 5th. Zacks Research lowered shares of Digital Turbine from a “strong-buy” rating to a “hold” rating in a report on Monday, July 27th. Finally, Weiss Ratings reiterated a “sell (e+)” rating on shares of Digital Turbine in a report on Wednesday, September 2nd. One research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, two have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $15.10.

Digital Turbine Stock Performance

APPS traded down $0.98 during trading on Thursday, hitting $9.56. The stock had a trading volume of 2,426,989 shares, compared to its average volume of 2,974,753. The firm has a market capitalization of $1.16 billion, a P/E ratio of -36.77, a PEG ratio of 0.45 and a beta of 3.02. The company has a debt-to-equity ratio of 1.80, a quick ratio of 1.20 and a current ratio of 1.20. Digital Turbine has a twelve month low of $2.74 and a twelve month high of $15.34. The company’s 50-day moving average price is $11.20 and its 200 day moving average price is $8.59.

Digital Turbine (NASDAQ:APPS) last issued its earnings results on Tuesday, August 4th. The software maker reported $0.19 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.14 by $0.05. The business had revenue of $165.98 million during the quarter, compared to the consensus estimate of $149.98 million. Digital Turbine had a positive return on equity of 38.34% and a negative net margin of 4.46%. On average, equities research analysts forecast that Digital Turbine will post 0.75 EPS for the current fiscal year.

Institutional Trading of Digital Turbine

Several large investors have recently bought and sold shares of the company. AIGH Capital Management LLC acquired a new position in shares of Digital Turbine in the 1st quarter worth approximately $14,100,000. Dimensional Fund Advisors LP lifted its stake in Digital Turbine by 56.1% during the first quarter. Dimensional Fund Advisors LP now owns 2,353,594 shares of the software maker’s stock worth $6,778,000 after purchasing an additional 846,116 shares during the last quarter. Granahan Investment Management LLC lifted its stake in Digital Turbine by 12.0% during the first quarter. Granahan Investment Management LLC now owns 7,112,351 shares of the software maker’s stock worth $20,484,000 after purchasing an additional 762,888 shares during the last quarter. Bank of America Corp DE lifted its stake in Digital Turbine by 17.4% during the first quarter. Bank of America Corp DE now owns 3,619,171 shares of the software maker’s stock worth $10,423,000 after purchasing an additional 535,169 shares during the last quarter. Finally, Segall Bryant & Hamill LLC acquired a new position in Digital Turbine in the first quarter worth $1,283,000. Institutional investors and hedge funds own 63.66% of the company’s stock.

About Digital Turbine

Digital Turbine, Inc is a mobile advertising and application-growth company that helps advertisers, app developers, wireless carriers and device manufacturers connect with mobile users. Its platform supports the distribution, promotion and monetization of applications across smartphones and other connected devices.

The company’s products and services include on-device app discovery and recommendation tools, app-install solutions, mobile advertising formats, audience-targeting capabilities and programmatic advertising technology.