Digital Turbine (NASDAQ:APPS) Raised to Strong-Buy at Zacks Research

Digital Turbine (NASDAQ:APPS) was upgraded by analysts at Zacks Research from a “hold” rating to a “strong-buy” rating in a research note issued to investors on Thursday,Zacks.com reports.

Several other analysts also recently issued reports on the stock. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Digital Turbine in a research report on Monday, December 29th. Craig Hallum restated a “buy” rating and issued a $10.00 target price on shares of Digital Turbine in a research note on Wednesday, November 5th. Finally, Wall Street Zen raised shares of Digital Turbine from a “hold” rating to a “buy” rating in a research note on Saturday. One equities research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $7.75.

Digital Turbine Trading Down 2.1%

Shares of APPS opened at $4.15 on Thursday. Digital Turbine has a 12 month low of $2.11 and a 12 month high of $8.28. The stock’s 50-day moving average is $5.06 and its two-hundred day moving average is $5.23. The company has a debt-to-equity ratio of 1.80, a current ratio of 1.10 and a quick ratio of 1.10. The stock has a market cap of $497.59 million, a PE ratio of -8.65, a P/E/G ratio of 0.49 and a beta of 2.26.

Digital Turbine (NASDAQ:APPS) last posted its earnings results on Tuesday, February 3rd. The software maker reported $0.18 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.16 by $0.02. The business had revenue of $151.40 million during the quarter, compared to analyst estimates of $145.72 million. Digital Turbine had a positive return on equity of 21.26% and a negative net margin of 8.93%. Equities analysts forecast that Digital Turbine will post -0.03 earnings per share for the current fiscal year.

Institutional Trading of Digital Turbine

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in Digital Turbine by 4.4% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 57,539 shares of the software maker’s stock valued at $156,000 after acquiring an additional 2,449 shares during the last quarter. Goldman Sachs Group Inc. raised its stake in shares of Digital Turbine by 74.8% in the 1st quarter. Goldman Sachs Group Inc. now owns 1,021,687 shares of the software maker’s stock valued at $2,774,000 after purchasing an additional 437,310 shares in the last quarter. Strs Ohio bought a new position in shares of Digital Turbine during the first quarter worth about $41,000. Allspring Global Investments Holdings LLC bought a new position in shares of Digital Turbine during the second quarter worth about $1,128,000. Finally, Versor Investments LP acquired a new position in Digital Turbine in the second quarter worth about $333,000. Institutional investors own 63.66% of the company’s stock.

About Digital Turbine

Digital Turbine, Inc (NASDAQ: APPS) is a mobile technology company that streamlines content delivery and app advertising across connected devices. Its platform enables carriers, OEMs, app developers and advertisers to engage users through personalized app recommendations, in-app promotions and turnkey monetization solutions. By integrating software directly on smartphones and tablets, Digital Turbine simplifies the user journey from discovery to installation without requiring additional downloads or redirects through traditional app stores.

The company’s flagship Ignite Platform offers end-to-end campaign management, combining demand-side advertising, real-time analytics and automated content fulfillment.