Digital Turbine, Inc. (NASDAQ:APPS) Receives $14.75 Consensus Price Target from Brokerages

Digital Turbine, Inc. (NASDAQ:APPS) has earned a consensus rating of “Moderate Buy” from the six research firms that are currently covering the firm, MarketBeat reports. One analyst has rated the stock with a sell recommendation, one has given a hold recommendation and four have given a buy recommendation to the company. The average 1 year target price among brokerages that have updated their coverage on the stock in the last year is $14.75.

Several research firms have weighed in on APPS. Craig Hallum restated a “buy” rating and set a $18.00 target price on shares of Digital Turbine in a research note on Wednesday, August 5th. Weiss Ratings reiterated a “sell (e+)” rating on shares of Digital Turbine in a research note on Wednesday, September 2nd. Bank of America raised Digital Turbine from a “neutral” rating to a “buy” rating and set a $7.50 price target for the company in a report on Wednesday, May 27th. Roth Capital restated a “buy” rating and set a $17.50 price objective on shares of Digital Turbine in a research report 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.

Digital Turbine Stock Performance

NASDAQ:APPS opened at $11.81 on Wednesday. The stock has a fifty day moving average price of $10.61 and a 200-day moving average price of $7.33. The company has a market cap of $1.43 billion, a price-to-earnings ratio of -45.42, a PEG ratio of 0.50 and a beta of 2.87. The company has a debt-to-equity ratio of 1.80, a quick ratio of 1.20 and a current ratio of 1.20. Digital Turbine has a fifty-two week low of $2.74 and a fifty-two week 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 analysts’ consensus estimates of $0.14 by $0.05. The business had revenue of $165.98 million during the quarter, compared to the consensus estimate of $149.98 million. Digital Turbine had a positive return on equity of 38.34% and a negative net margin of 4.46%. As a group, equities analysts anticipate that Digital Turbine will post 0.75 EPS for the current fiscal year.

Institutional Investors Weigh In On Digital Turbine

Hedge funds have recently made changes to their positions in the stock. Allworth Financial LP lifted its holdings in shares of 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 acquiring an additional 1,696 shares during the last quarter. Creative Planning raised its position in Digital Turbine by 9.4% during the third quarter. Creative Planning now owns 23,286 shares of the software maker’s stock valued at $149,000 after purchasing an additional 1,997 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in shares of Digital Turbine by 4.4% in 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 purchasing an additional 2,449 shares during the last quarter. O Shaughnessy Asset Management LLC lifted its stake in shares of Digital Turbine by 23.8% in the 4th quarter. O Shaughnessy Asset Management LLC now owns 13,180 shares of the software maker’s stock valued at $66,000 after purchasing an additional 2,536 shares during the last quarter. Finally, Legal & General Group Plc boosted its holdings in shares of Digital Turbine by 31.6% in the 2nd quarter. Legal & General Group Plc now owns 10,624 shares of the software maker’s stock worth $63,000 after purchasing an additional 2,550 shares during the period. 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 provides technology for advertisers, mobile operators, device manufacturers and app publishers. Its platform helps businesses promote, distribute and monetize mobile applications and digital content across smartphones and other connected devices.

The company’s offerings include on-device app discovery and recommendation tools, advertising inventory and exchange services, and technologies that support app installation and user engagement.