Digital Turbine, Inc. (NASDAQ:APPS) Receives Consensus Rating of “Moderate Buy” from Analysts

Digital Turbine, Inc. (NASDAQ:APPS) has earned an average rating of “Moderate Buy” from the six analysts that are covering the stock, Marketbeat reports. One analyst has rated the stock with a sell rating, one has issued a hold rating and four have assigned a buy rating to the company. The average 12 month target price among analysts that have covered the stock in the last year is $14.75.

Several research firms have commented on APPS. Wall Street Zen upgraded Digital Turbine from a “buy” rating to a “strong-buy” rating in a research note on Saturday, August 29th. Roth Capital reiterated a “buy” rating and issued a $17.50 price objective on shares of Digital Turbine in a report on Thursday, August 6th. Craig Hallum reissued a “buy” rating and issued a $18.00 price objective on shares of Digital Turbine in a research report on Wednesday, August 5th. Benchmark increased their target price on shares of Digital Turbine from $15.00 to $16.00 and gave the stock a “buy” rating in a report on Wednesday, August 5th. Finally, Zacks Research downgraded shares of Digital Turbine from a “strong-buy” rating to a “hold” rating in a research report on Monday, July 27th.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of APPS. Essential Partners LLC raised its stake in shares of Digital Turbine by 167.3% during the 1st quarter. Essential Partners LLC now owns 9,031 shares of the software maker’s stock worth $26,000 after purchasing an additional 5,652 shares in the last quarter. Verus Capital Partners LLC acquired a new position in Digital Turbine during the first quarter worth $35,000. Caitong International Asset Management Co. Ltd acquired a new position in Digital Turbine during the fourth quarter worth $44,000. Y Intercept Hong Kong Ltd bought a new stake in Digital Turbine during the first quarter worth $44,000. Finally, State of Wyoming bought a new stake in Digital Turbine during the first quarter worth $50,000. 63.66% of the stock is currently owned by institutional investors.

Digital Turbine Price Performance

Shares of NASDAQ APPS opened at $11.38 on Wednesday. The company has a fifty day moving average price of $10.64 and a 200 day moving average price of $7.44. The firm has a market cap of $1.38 billion, a PE ratio of -43.77, a PEG ratio of 0.50 and a beta of 2.87. The company has a current ratio of 1.20, a quick ratio of 1.20 and a debt-to-equity ratio of 1.80. Digital Turbine has a 1-year low of $2.74 and a 1-year high of $15.34.

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

About Digital Turbine

Digital Turbine, Inc is a mobile advertising and application growth company that provides technology for advertisers, mobile operators, device manufacturers and app publishers. Its platform helps businesses promote, distribute and monetize mobile applications and digital content across smartphones and other connected devices.

The company’s offerings include on-device app discovery and recommendation tools, advertising inventory and exchange services, and technologies that support app installation and user engagement.