Royal Bank Of Canada Begins Coverage on Digital Turbine (NASDAQ:APPS)

Stock analysts at Royal Bank Of Canada started coverage on shares of Digital Turbine (NASDAQ:APPS) in a research note issued on Thursday, Marketbeat Ratings reports. The firm set a “moderate buy” rating and a $15.00 price target on the software maker’s stock. Royal Bank Of Canada’s price target would suggest a potential upside of 29.87% from the company’s current price.

Other research analysts have also issued research reports about the stock. Craig Hallum reissued a “buy” rating and set a $18.00 target price on shares of Digital Turbine in a research report on Wednesday, August 5th. Wall Street Zen upgraded Digital Turbine from a “buy” rating to a “strong-buy” rating in a research note on Saturday, August 29th. Zacks Research cut Digital Turbine from a “strong-buy” rating to a “hold” rating in a research report on Monday, July 27th. TD Cowen reaffirmed a “hold” rating on shares of Digital Turbine in a report on Tuesday. Finally, Roth Capital reissued a “buy” rating and issued a $17.50 price objective on shares of Digital Turbine in a research report on Thursday, August 6th. Five analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $14.80.

Digital Turbine Stock Performance

Shares of APPS opened at $11.55 on Thursday. 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 stock has a market cap of $1.40 billion, a price-to-earnings ratio of -44.42, a PEG ratio of 0.47 and a beta of 3.02. Digital Turbine has a one year low of $2.74 and a one year high of $15.34. The company has a 50-day moving average of $11.10 and a two-hundred day moving average of $8.06.

Digital Turbine (NASDAQ:APPS) last issued its earnings results on Tuesday, August 4th. The software maker reported $0.19 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.14 by $0.05. The company had revenue of $165.98 million during 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 research analysts expect that Digital Turbine will post 0.75 earnings per share for the current year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in APPS. WINTON GROUP Ltd increased its stake in Digital Turbine by 178.7% in the second quarter. WINTON GROUP Ltd now owns 121,796 shares of the software maker’s stock valued at $1,571,000 after purchasing an additional 78,096 shares in the last quarter. Integrated Wealth Concepts LLC acquired a new position in shares of Digital Turbine in the second quarter valued at approximately $56,000. Allworth Financial LP increased its position in shares of 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 acquiring an additional 1,696 shares in the last quarter. AXQ Capital LP raised its holdings in shares of Digital Turbine by 81.0% during the second quarter. AXQ Capital LP now owns 43,339 shares of the software maker’s stock worth $559,000 after acquiring an additional 19,392 shares during the period. Finally, Headlands Technologies LLC acquired a new position in Digital Turbine in the 2nd quarter worth $1,282,000. 63.66% of the stock is currently owned by institutional investors.

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.