Digital Turbine (NASDAQ:APPS) Stock Rated “Outperform” in New Coverage at Royal Bank Of Canada

Royal Bank Of Canada assumed coverage on shares of Digital Turbine (NASDAQ:APPS) in a report issued on Thursday, MarketBeat Ratings reports. The firm set an “outperform” rating and a $15.00 price target on the software maker’s stock. Royal Bank Of Canada’s price objective suggests a potential upside of 29.87% from the stock’s current price.

Several other brokerages have also commented on APPS. TD Cowen reissued a “hold” rating on shares of Digital Turbine in a research note on Tuesday. Craig Hallum reissued a “buy” rating and set a $18.00 price target on shares of Digital Turbine in a research note on Wednesday, August 5th. Benchmark upped their target price on Digital Turbine from $15.00 to $16.00 and gave the company a “buy” rating in a research note on Wednesday, August 5th. Roth Capital reaffirmed a “buy” rating and issued a $17.50 target price on shares of Digital Turbine in a research note on Thursday, August 6th. Finally, Zacks Research lowered Digital Turbine from a “strong-buy” rating to a “hold” rating in a research note on Monday, July 27th. Five investment analysts have rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $14.80.

Digital Turbine Stock Performance

Shares of APPS stock opened at $11.55 on Thursday. The stock has a market capitalization of $1.40 billion, a PE ratio of -44.42, a price-to-earnings-growth ratio of 0.47 and a beta of 3.02. Digital Turbine has a 52-week low of $2.74 and a 52-week high of $15.34. The stock’s 50-day moving average price is $11.10 and its 200 day moving average price is $8.06. The company has a quick ratio of 1.20, a current ratio of 1.20 and a debt-to-equity ratio of 1.80.

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

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the business. Dimensional Fund Advisors LP increased its holdings in shares of Digital Turbine by 56.1% during the 1st quarter. Dimensional Fund Advisors LP now owns 2,353,594 shares of the software maker’s stock worth $6,778,000 after buying an additional 846,116 shares during the last quarter. GC Wealth Management RIA LLC increased its holdings in shares of Digital Turbine by 41.9% during the 1st quarter. GC Wealth Management RIA LLC now owns 576,273 shares of the software maker’s stock worth $1,660,000 after buying an additional 170,134 shares during the last quarter. Granahan Investment Management LLC increased its holdings in shares of Digital Turbine by 12.0% during the 1st quarter. Granahan Investment Management LLC now owns 7,112,351 shares of the software maker’s stock worth $20,484,000 after buying an additional 762,888 shares during the last quarter. Globeflex Capital L P acquired a new stake in shares of Digital Turbine during the 1st quarter worth $1,227,000. Finally, AIGH Capital Management LLC acquired a new stake in shares of Digital Turbine during the 1st quarter worth $14,100,000. 63.66% of the stock is currently owned by institutional investors and hedge funds.

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.