Digital Turbine (NASDAQ:APPS) Hits New 52-Week High at $12.06

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Digital Turbine Inc (NASDAQ:APPS) shares hit a new 52-week high during mid-day trading on Monday . The stock traded as high as $12.06 and last traded at $11.81, with a volume of 4171000 shares traded. The stock had previously closed at $11.81.

Several equities analysts have recently issued reports on APPS shares. ValuEngine raised shares of Digital Turbine from a “sell” rating to a “hold” rating in a research note on Thursday, April 2nd. Oppenheimer started coverage on shares of Digital Turbine in a research note on Wednesday, June 24th. They issued an “outperform” rating and a $14.00 price objective on the stock. Craig Hallum lifted their price objective on shares of Digital Turbine from $12.00 to $15.00 and gave the stock a “buy” rating in a research note on Tuesday. B. Riley lifted their price objective on shares of Digital Turbine from $7.00 to $9.50 in a research note on Wednesday, June 3rd. Finally, TheStreet raised shares of Digital Turbine from a “c” rating to a “b-” rating in a research note on Thursday, June 4th. One equities research analyst has rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus target price of $12.21.

The firm’s 50-day moving average price is $8.27 and its two-hundred day moving average price is $6.66. The firm has a market capitalization of $1.04 billion, a PE ratio of 83.80 and a beta of 1.77. The company has a quick ratio of 0.71, a current ratio of 0.71 and a debt-to-equity ratio of 0.24.

Digital Turbine (NASDAQ:APPS) last released its earnings results on Tuesday, June 2nd. The software maker reported $0.05 earnings per share for the quarter, topping the consensus estimate of $0.04 by $0.01. The business had revenue of $39.35 million for the quarter, compared to the consensus estimate of $38.40 million. Digital Turbine had a net margin of 10.02% and a return on equity of 26.09%. Equities research analysts forecast that Digital Turbine Inc will post 0.36 EPS for the current year.

Several institutional investors have recently added to or reduced their stakes in APPS. Ellington Management Group LLC boosted its holdings in shares of Digital Turbine by 9.1% during the fourth quarter. Ellington Management Group LLC now owns 21,600 shares of the software maker’s stock worth $154,000 after purchasing an additional 1,800 shares during the period. Bank of Montreal Can boosted its holdings in shares of Digital Turbine by 43.3% during the fourth quarter. Bank of Montreal Can now owns 9,866 shares of the software maker’s stock worth $70,000 after purchasing an additional 2,981 shares during the period. Hennessy Advisors Inc. boosted its holdings in shares of Digital Turbine by 32.4% during the first quarter. Hennessy Advisors Inc. now owns 14,022 shares of the software maker’s stock worth $60,000 after purchasing an additional 3,429 shares during the period. Ladenburg Thalmann Financial Services Inc. boosted its holdings in shares of Digital Turbine by 975.0% during the fourth quarter. Ladenburg Thalmann Financial Services Inc. now owns 4,300 shares of the software maker’s stock worth $30,000 after purchasing an additional 3,900 shares during the period. Finally, Rhumbline Advisers boosted its holdings in shares of Digital Turbine by 5.3% during the fourth quarter. Rhumbline Advisers now owns 86,934 shares of the software maker’s stock worth $620,000 after purchasing an additional 4,366 shares during the period. 54.12% of the stock is currently owned by institutional investors and hedge funds.

Digital Turbine Company Profile (NASDAQ:APPS)

Digital Turbine, Inc, through its subsidiaries, provides media and mobile communication products and solutions for mobile operators, application developers, device original equipment manufacturers (OEMs), and other third parties worldwide. It provides Ignite, a software platform that enables mobile operators and OEMs to control, manage, and monetize devices.

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