Digital Turbine (NASDAQ:APPS) Raised to Moderate Buy at Royal Bank Of Canada

Digital Turbine (NASDAQ:APPS) was upgraded by equities researchers at Royal Bank Of Canada to a “moderate buy” rating in a research note issued to investors on Thursday, Zacks reports.

Other equities research analysts have also issued research reports about the stock. Roth Capital reissued a “buy” rating and issued a $17.50 price target on shares of Digital Turbine in a report on Thursday, August 6th. TD Cowen reaffirmed a “hold” rating on shares of Digital Turbine in a research note on Tuesday. Weiss Ratings reiterated a “sell (e+)” rating on shares of Digital Turbine in a report on Wednesday, September 2nd. Benchmark raised their target price on Digital Turbine from $15.00 to $16.00 and gave the stock a “buy” rating in a research note on Wednesday, August 5th. Finally, Zacks Research lowered Digital Turbine from a “strong-buy” rating to a “hold” rating in a research report on Monday, July 27th. Five equities research 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.com, Digital Turbine currently has an average rating of “Moderate Buy” and an average target price of $14.80.

Digital Turbine Price Performance

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’s 50 day simple moving average is $11.10 and its 200 day simple moving average is $8.06. The firm 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 1 year low of $2.74 and a 1 year high of $15.34.

Digital Turbine (NASDAQ:APPS) last released its quarterly earnings data on Tuesday, August 4th. The software maker reported $0.19 earnings per share for the quarter, beating analysts’ consensus estimates of $0.14 by $0.05. Digital Turbine had a positive return on equity of 38.34% and a negative net margin of 4.46%.The firm had revenue of $165.98 million during the quarter, compared to analyst estimates of $149.98 million. As a group, analysts predict that Digital Turbine will post 0.75 earnings per share for the current year.

Institutional Investors Weigh In On Digital Turbine

Several hedge funds have recently made changes to their positions in APPS. WINTON GROUP Ltd raised its holdings in Digital Turbine by 178.7% in the second quarter. WINTON GROUP Ltd now owns 121,796 shares of the software maker’s stock worth $1,571,000 after purchasing an additional 78,096 shares in the last quarter. Integrated Wealth Concepts LLC bought a new stake in shares of Digital Turbine during the 2nd quarter valued at $56,000. Allworth Financial LP boosted its holdings in shares of Digital Turbine by 42.4% during the 2nd quarter. Allworth Financial LP now owns 5,698 shares of the software maker’s stock valued at $74,000 after buying an additional 1,696 shares in the last quarter. AXQ Capital LP grew its position in shares of Digital Turbine by 81.0% in the 2nd quarter. AXQ Capital LP now owns 43,339 shares of the software maker’s stock worth $559,000 after buying an additional 19,392 shares during the period. Finally, Headlands Technologies LLC bought a new position in shares of Digital Turbine in the 2nd quarter worth about $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.