Digital Turbine Inc (NASDAQ:APPS)’s share price gapped up before the market opened on Tuesday . The stock had previously closed at $6.37, but opened at $6.57. Digital Turbine shares last traded at $6.89, with a volume of 3,448,922 shares trading hands.

A number of equities research analysts have issued reports on the company. LADENBURG THALM/SH SH boosted their price target on Digital Turbine from $4.50 to $5.10 and gave the company a “buy” rating in a research note on Tuesday, June 4th. Zacks Investment Research upgraded Digital Turbine from a “hold” rating to a “buy” rating and set a $5.75 price objective for the company in a research note on Tuesday, July 2nd. ValuEngine raised Digital Turbine from a “buy” rating to a “strong-buy” rating in a report on Thursday, June 27th. Craig Hallum set a $6.00 price target on Digital Turbine and gave the stock a “buy” rating in a report on Tuesday, June 4th. Finally, Canaccord Genuity initiated coverage on Digital Turbine in a report on Thursday, June 27th. They issued a “buy” rating and a $6.00 price target on the stock. Six research analysts have rated the stock with a buy rating and two have issued a strong buy rating to the company. The company has an average rating of “Buy” and an average price target of $5.56.

The company has a 50-day simple moving average of $5.36. The stock has a market capitalization of $525.45 million, a price-to-earnings ratio of 137.80 and a beta of 1.83.

Digital Turbine (NASDAQ:APPS) last posted its quarterly earnings results on Monday, August 5th. The software maker reported $0.04 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.03 by $0.01. Digital Turbine had a positive return on equity of 23.70% and a negative net margin of 7.42%. The business had revenue of $30.55 million for the quarter, compared to the consensus estimate of $28.39 million. Equities analysts predict that Digital Turbine Inc will post 0.17 earnings per share for the current fiscal year.

In related news, Director Paul M. Schaeffer sold 31,847 shares of the company’s stock in a transaction on Thursday, June 6th. The stock was sold at an average price of $4.54, for a total transaction of $144,585.38. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Paul M. Schaeffer sold 150,000 shares of the company’s stock in a transaction on Monday, June 10th. The stock was sold at an average price of $4.47, for a total value of $670,500.00. The disclosure for this sale can be found here. 5.80% of the stock is currently owned by corporate insiders.

Several hedge funds and other institutional investors have recently modified their holdings of the stock. BlackRock Inc. lifted its stake in shares of Digital Turbine by 298.8% during the 2nd quarter. BlackRock Inc. now owns 5,105,929 shares of the software maker’s stock worth $25,529,000 after purchasing an additional 3,825,466 shares during the last quarter. Allianz Asset Management GmbH purchased a new stake in shares of Digital Turbine during the 2nd quarter worth $5,204,000. Acadian Asset Management LLC lifted its stake in shares of Digital Turbine by 50.3% during the 2nd quarter. Acadian Asset Management LLC now owns 929,641 shares of the software maker’s stock worth $4,648,000 after purchasing an additional 310,980 shares during the last quarter. Roubaix Capital LLC lifted its stake in shares of Digital Turbine by 3.5% during the 2nd quarter. Roubaix Capital LLC now owns 525,680 shares of the software maker’s stock worth $2,628,000 after purchasing an additional 17,994 shares during the last quarter. Finally, EAM Global Investors LLC lifted its stake in shares of Digital Turbine by 430.1% during the 1st quarter. EAM Global Investors LLC now owns 505,546 shares of the software maker’s stock worth $1,769,000 after purchasing an additional 410,172 shares during the last quarter. Hedge funds and other institutional investors own 27.19% of the company’s stock.

Digital Turbine Company Profile (NASDAQ:APPS)

Digital Turbine, Inc, through its subsidiaries, provides media and mobile communication solutions for mobile operators, application developers, device original equipment manufacturers, and other third parties worldwide. The company offers Ignite, a mobile application management software to control, manage, and monetize the applications that are installed on mobile devices and professional services directly related to the ignite platform.

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