Digital Turbine (NASDAQ:APPS) Stock Rating Upgraded by Royal Bank Of Canada

Digital Turbine (NASDAQ:APPS) was upgraded by stock analysts at Royal Bank Of Canada to a “moderate buy” rating in a research note issued on Thursday, Zacks reports.

A number of other equities research analysts have also weighed in on the company. Roth Capital restated a “buy” rating and set a $17.50 price objective on shares of Digital Turbine in a research note on Thursday, August 6th. Weiss Ratings reiterated a “sell (e+)” rating on shares of Digital Turbine in a research note on Wednesday, September 2nd. TD Cowen reissued a “hold” rating on shares of Digital Turbine in a research report on Tuesday. Craig Hallum restated a “buy” rating and issued a $18.00 price target on shares of Digital Turbine in a research note on Wednesday, August 5th. Finally, Zacks Research cut shares of Digital Turbine from a “strong-buy” rating to a “hold” rating in a report on Monday, July 27th. Five analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, Digital Turbine currently has an average rating of “Moderate Buy” and an average price target of $14.80.

Digital Turbine Stock Performance

Shares of NASDAQ APPS opened at $11.55 on Thursday. The company has a 50-day simple moving average of $11.10 and a 200-day simple moving average of $8.06. The company has a debt-to-equity ratio of 1.80, a current ratio of 1.20 and a quick ratio of 1.20. The company has a market cap 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 12 month low of $2.74 and a 12 month high of $15.34.

Digital Turbine (NASDAQ:APPS) last posted its quarterly earnings results on Tuesday, August 4th. The software maker reported $0.19 EPS for the quarter, beating the consensus estimate of $0.14 by $0.05. The firm 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, equities analysts anticipate that Digital Turbine will post 0.75 earnings per share for the current year.

Institutional Investors Weigh In On Digital Turbine

Several large investors have recently made changes to their positions in the company. Allworth Financial LP grew its position in Digital Turbine by 42.4% during 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 in the last quarter. Diversified Trust Co raised its stake in Digital Turbine by 14.6% in the first quarter. Diversified Trust Co now owns 30,131 shares of the software maker’s stock valued at $87,000 after purchasing an additional 3,831 shares in the last quarter. Cetera Investment Advisers lifted its position in Digital Turbine by 22.2% during the first quarter. Cetera Investment Advisers now owns 23,832 shares of the software maker’s stock valued at $69,000 after purchasing an additional 4,323 shares during the last quarter. Integrated Wealth Concepts LLC bought a new position in shares of Digital Turbine in the 2nd quarter worth $56,000. Finally, Essential Partners LLC increased its stake in Digital Turbine by 167.3% in the first quarter. Essential Partners LLC now owns 9,031 shares of the software maker’s stock valued at $26,000 after acquiring an additional 5,652 shares during the last quarter. Institutional investors and hedge funds own 63.66% of the company’s stock.

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.