Digital Turbine (NASDAQ:APPS) Upgraded to Strong-Buy at Roth Capital

Roth Capital upgraded shares of Digital Turbine (NASDAQ:APPS) to a strong-buy rating in a report published on Thursday,Zacks reports.

A number of other analysts have also weighed in on APPS. Wall Street Zen upgraded shares of Digital Turbine from a “buy” rating to a “strong-buy” rating in a report on Saturday, August 29th. Weiss Ratings restated a “sell (e+)” rating on shares of Digital Turbine in a report on Wednesday, September 2nd. TD Cowen reaffirmed a “hold” rating on shares of Digital Turbine in a research report on Tuesday, September 29th. Benchmark upped their price target on Digital Turbine from $15.00 to $16.00 and gave the company a “buy” rating in a research report on Wednesday, August 5th. Finally, Royal Bank Of Canada started coverage on Digital Turbine in a report on Thursday, October 1st. They issued an “outperform” rating and a $15.00 price objective for the company. One research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $15.10.

Digital Turbine Trading Up 10.7%

Shares of APPS opened at $10.54 on Thursday. The stock has a market capitalization of $1.28 billion, a P/E ratio of -40.54, a PEG ratio of 0.41 and a beta of 3.02. The company has a quick ratio of 1.20, a current ratio of 1.20 and a debt-to-equity ratio of 1.80. The firm has a fifty day simple moving average of $11.29 and a two-hundred day simple moving average of $8.58. Digital Turbine has a twelve month low of $2.74 and a twelve month high of $15.34.

Digital Turbine (NASDAQ:APPS) last announced its quarterly 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 for the quarter, compared to analyst estimates of $149.98 million. Digital Turbine had a negative net margin of 4.46% and a positive return on equity of 38.34%. On average, research analysts anticipate that Digital Turbine will post 0.75 EPS for the current year.

Hedge Funds Weigh In On Digital Turbine

Several institutional investors and hedge funds have recently modified their holdings of the stock. State of Alaska Department of Revenue grew its position in Digital Turbine by 86.9% during the 3rd quarter. State of Alaska Department of Revenue now owns 9,223 shares of the software maker’s stock valued at $102,000 after purchasing an additional 4,288 shares during the last quarter. WINTON GROUP Ltd raised its holdings in Digital Turbine by 178.7% in the second quarter. WINTON GROUP Ltd now owns 121,796 shares of the software maker’s stock worth $1,571,000 after buying an additional 78,096 shares during the last quarter. Integrated Wealth Concepts LLC purchased a new position in Digital Turbine in the second quarter worth about $56,000. Allworth Financial LP raised its holdings in Digital Turbine by 42.4% in the second quarter. Allworth Financial LP now owns 5,698 shares of the software maker’s stock worth $74,000 after buying an additional 1,696 shares during the last quarter. Finally, AXQ Capital LP lifted its stake in shares of Digital Turbine by 81.0% in the second quarter. AXQ Capital LP now owns 43,339 shares of the software maker’s stock worth $559,000 after buying an additional 19,392 shares in the last quarter. 63.66% of the stock is currently owned by institutional investors.

Digital Turbine Company Profile

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.