Digital Turbine (NASDAQ:APPS) Stock Price Up 7.6% on Analyst Upgrade

Shares of Digital Turbine, Inc. (NASDAQ:APPS) rose 7.6% during mid-day trading on Thursday after Roth Capital upgraded the stock to a strong-buy rating. The company traded as high as $10.30 and last traded at $10.2470. Approximately 997,404 shares were traded during trading, a decline of 74% from the average daily volume of 3,859,653 shares. The stock had previously closed at $9.52.

Several other brokerages also recently commented on APPS. Royal Bank Of Canada began coverage on Digital Turbine in a research report on Thursday, October 1st. They issued an “outperform” rating and a $15.00 price objective on the stock. Weiss Ratings reiterated a “sell (e+)” rating on shares of Digital Turbine in a research report on Wednesday, September 2nd. 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. Zacks Research cut shares of Digital Turbine from a “strong-buy” rating to a “hold” rating in a report on Monday, July 27th. Finally, Benchmark raised their price target on shares of Digital Turbine from $15.00 to $16.00 and gave the stock a “buy” rating in a research note on Wednesday, August 5th. One analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, two have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $15.10.

Hedge Funds Weigh In On Digital Turbine

Several institutional investors have recently made changes to their positions in the company. Allworth Financial LP raised its stake in Digital Turbine by 42.4% in the 2nd quarter. Allworth Financial LP now owns 5,698 shares of the software maker’s stock valued at $74,000 after purchasing an additional 1,696 shares during the last quarter. TD Waterhouse Canada Inc. acquired a new stake in Digital Turbine during the 3rd quarter worth $25,000. Diversified Trust Co boosted its stake in Digital Turbine by 14.6% during the 1st quarter. Diversified Trust Co now owns 30,131 shares of the software maker’s stock worth $87,000 after purchasing an additional 3,831 shares during the last quarter. State of Alaska Department of Revenue grew its holdings in shares of Digital Turbine by 86.9% during the third quarter. State of Alaska Department of Revenue now owns 9,223 shares of the software maker’s stock worth $102,000 after buying an additional 4,288 shares in the last quarter. Finally, Cetera Investment Advisers grew its holdings in shares of Digital Turbine by 22.2% during the first quarter. Cetera Investment Advisers now owns 23,832 shares of the software maker’s stock worth $69,000 after buying an additional 4,323 shares in the last quarter. Hedge funds and other institutional investors own 63.66% of the company’s stock.

Digital Turbine Price Performance

The stock’s 50-day moving average price is $11.20 and its 200 day moving average price is $8.59. The firm has a market capitalization of $1.16 billion, a price-to-earnings ratio of -36.77, a PEG ratio of 0.45 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.

Digital Turbine (NASDAQ:APPS) last posted its quarterly earnings results on Tuesday, August 4th. The software maker reported $0.19 earnings per share for the quarter, topping the consensus estimate of $0.14 by $0.05. The firm had revenue of $165.98 million for the quarter, compared to the consensus estimate of $149.98 million. Digital Turbine had a negative net margin of 4.46% and a positive return on equity of 38.34%. Equities research analysts expect that Digital Turbine, Inc. 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 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.