Shares of Digital Turbine Inc (NASDAQ:APPS) were down 7.7% during trading on Wednesday . The stock traded as low as $6.23 and last traded at $6.36, approximately 3,718,319 shares traded hands during mid-day trading. An increase of 157% from the average daily volume of 1,446,888 shares. The stock had previously closed at $6.89.

Several equities analysts have recently commented on APPS shares. Zacks Investment Research upgraded shares of Digital Turbine from a “hold” rating to a “buy” rating and set a $5.75 price objective on the stock in a report on Tuesday, July 2nd. LADENBURG THALM/SH SH upped their price objective on shares of Digital Turbine from $4.50 to $5.10 and gave the stock a “buy” rating in a report on Tuesday, June 4th. Canaccord Genuity started coverage on shares of Digital Turbine in a report on Thursday, June 27th. They issued a “buy” rating and a $6.00 price objective on the stock. National Securities restated a “buy” rating and issued a $4.50 price objective on shares of Digital Turbine in a report on Tuesday, June 4th. Finally, Craig Hallum set a $6.00 price objective on shares of Digital Turbine and gave the stock a “buy” rating in a report on Tuesday, June 4th. Six equities research analysts have rated the stock with a buy rating and two have issued a strong buy rating to the stock. Digital Turbine has a consensus rating of “Buy” and an average target price of $5.56.

The company has a fifty day moving average of $5.40. The company has a market cap of $525.45 million, a PE ratio of 127.20 and a beta of 1.83.

Digital Turbine (NASDAQ:APPS) last released its earnings results on Monday, August 5th. The software maker reported $0.04 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.03 by $0.01. The company had revenue of $30.55 million for the quarter, compared to analyst estimates of $28.39 million. Digital Turbine had a negative net margin of 7.42% and a positive return on equity of 23.70%. On average, research analysts forecast that Digital Turbine Inc will post 0.17 earnings per share for the current year.

In other Digital Turbine news, Director Paul M. Schaeffer sold 150,000 shares of the stock in a transaction that occurred on Monday, June 10th. The shares were sold at an average price of $4.47, for a total transaction of $670,500.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Paul M. Schaeffer sold 31,847 shares of the stock in a transaction that occurred on Thursday, June 6th. The stock was sold at an average price of $4.54, for a total transaction of $144,585.38. The disclosure for this sale can be found here. 5.80% of the stock is owned by corporate insiders.

A number of institutional investors have recently added to or reduced their stakes in APPS. BlackRock Inc. raised its holdings in shares of Digital Turbine by 298.8% in the 2nd quarter. BlackRock Inc. now owns 5,105,929 shares of the software maker’s stock valued at $25,529,000 after purchasing an additional 3,825,466 shares in the last quarter. Vanguard Group Inc. raised its holdings in shares of Digital Turbine by 35.9% in the 2nd quarter. Vanguard Group Inc. now owns 3,560,468 shares of the software maker’s stock valued at $17,802,000 after purchasing an additional 940,198 shares in the last quarter. Allianz Asset Management GmbH acquired a new stake in shares of Digital Turbine in the 2nd quarter valued at $5,204,000. Acadian Asset Management LLC raised its holdings in shares of Digital Turbine by 50.3% in the 2nd quarter. Acadian Asset Management LLC now owns 929,641 shares of the software maker’s stock valued at $4,648,000 after purchasing an additional 310,980 shares in the last quarter. Finally, Invesco Ltd. acquired a new stake in shares of Digital Turbine in the 2nd quarter valued at $2,847,000. Institutional investors own 27.19% of the company’s stock.

Digital Turbine Company Profile (NASDAQ:APPS)

Digital Turbine, Inc, through its subsidiaries, provides media and mobile communication solutions for mobile operators, application developers, device original equipment manufacturers, and other third parties worldwide. The company offers Ignite, a mobile application management software to control, manage, and monetize the applications that are installed on mobile devices and professional services directly related to the ignite platform.

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