Digital Turbine (NASDAQ:APPS) was upgraded by Zacks Investment Research from a “hold” rating to a “strong-buy” rating in a report released on Tuesday, Zacks.com reports. The firm presently has a $82.00 target price on the software maker’s stock. Zacks Investment Research‘s target price suggests a potential upside of 18.10% from the stock’s previous close.

According to Zacks, “Digital Turbine Inc. offers products and solutions for mobile operators, device OEMs and third parties. The company’s product include DT Ignite(TM), a mobile device management solution with targeted app distribution capabilities, DT IQ(TM), a customized user experience and app discovery tool, DT Marketplace(TM), an application and content store and DT Pay(TM), a content management and mobile payment solution. It operates primarily in Berlin, Singapore and Sydney. Digital Turbine, Inc., formerly known as Mandalay Digital Group, Inc., is headquartered in Austin, Texas. “

Several other brokerages have also commented on APPS. Craig Hallum increased their price objective on Digital Turbine from $90.00 to $105.00 and gave the company a “buy” rating in a report on Monday, March 29th. LADENBURG THALM/SH SH upgraded Digital Turbine from a “neutral” rating to a “buy” rating in a research note on Thursday, February 4th. B. Riley boosted their price target on Digital Turbine from $77.00 to $85.00 and gave the stock a “buy” rating in a research note on Thursday, February 4th. Roth Capital upped their price objective on shares of Digital Turbine from $100.00 to $115.00 and gave the company a “buy” rating in a report on Monday, March 29th. Finally, Maxim Group raised their target price on shares of Digital Turbine from $85.00 to $111.00 and gave the stock a “buy” rating in a report on Tuesday, March 30th. One equities research analyst has rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the stock. The company presently has an average rating of “Buy” and an average target price of $79.69.

Digital Turbine stock traded down $2.10 during mid-day trading on Tuesday, reaching $69.43. 137,930 shares of the company were exchanged, compared to its average volume of 3,791,255. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.89 and a current ratio of 0.89. The firm has a market cap of $6.21 billion, a P/E ratio of 231.24, a PEG ratio of 2.07 and a beta of 2.42. The business has a fifty day moving average of $79.08 and a 200 day moving average of $61.78. Digital Turbine has a 12-month low of $5.07 and a 12-month high of $102.56.

Digital Turbine (NASDAQ:APPS) last issued its quarterly earnings data on Tuesday, February 2nd. The software maker reported $0.21 earnings per share for the quarter, topping analysts’ consensus estimates of $0.18 by $0.03. Digital Turbine had a return on equity of 38.26% and a net margin of 13.38%. The firm had revenue of $88.59 million during the quarter, compared to analysts’ expectations of $75.86 million. During the same period in the prior year, the business posted $0.05 EPS. The firm’s quarterly revenue was up 146.0% on a year-over-year basis. Sell-side analysts predict that Digital Turbine will post 0.54 EPS for the current year.

In other Digital Turbine news, CAO David Wesch sold 25,000 shares of the firm’s stock in a transaction that occurred on Monday, February 8th. The stock was sold at an average price of $88.23, for a total value of $2,205,750.00. Following the sale, the chief accounting officer now directly owns 25,000 shares of the company’s stock, valued at $2,205,750. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 6.20% of the company’s stock.

Institutional investors and hedge funds have recently made changes to their positions in the business. Tsfg LLC purchased a new stake in shares of Digital Turbine during the fourth quarter worth $28,000. Navis Wealth Advisors LLC acquired a new position in Digital Turbine during the fourth quarter worth about $28,000. RMR Wealth Builders purchased a new stake in Digital Turbine during the 4th quarter valued at about $28,000. Neo Ivy Capital Management acquired a new stake in Digital Turbine in the 4th quarter valued at about $31,000. Finally, Global Retirement Partners LLC boosted its holdings in shares of Digital Turbine by 475.2% during the 4th quarter. Global Retirement Partners LLC now owns 880 shares of the software maker’s stock worth $50,000 after purchasing an additional 727 shares during the last quarter. 60.69% of the stock is currently owned by institutional investors.

About Digital Turbine

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

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