Digital Turbine (NASDAQ:APPS) Stock Jumps 7.6% Following Analyst Upgrade

Digital Turbine, Inc. (NASDAQ:APPS)’s stock price shot up 7.6% during trading on Thursday after Roth Capital upgraded the stock to a strong-buy rating. The company traded as high as $10.30 and last traded at $10.2470. 997,404 shares traded hands during mid-day trading, a decline of 74% from the average daily volume of 3,859,653 shares. The stock had previously closed at $9.52.

Other equities analysts have also issued research reports about the company. Weiss Ratings reissued a “sell (e+)” rating on shares of Digital Turbine in a report on Wednesday, September 2nd. Wall Street Zen raised Digital Turbine from a “buy” rating to a “strong-buy” rating in a research report on Saturday, August 29th. Craig Hallum reissued a “buy” rating and issued a $18.00 target price on shares of Digital Turbine in a report on Wednesday, August 5th. Zacks Research lowered Digital Turbine from a “strong-buy” rating to a “hold” rating in a report on Monday, July 27th. Finally, TD Cowen restated a “hold” rating on shares of Digital Turbine in a research note on Tuesday, September 29th. One investment analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $15.10.

Institutional Investors Weigh In On Digital Turbine

A number of institutional investors and hedge funds have recently modified their holdings of APPS. Granahan Investment Management LLC increased its stake in Digital Turbine by 12.0% in the 1st quarter. Granahan Investment Management LLC now owns 7,112,351 shares of the software maker’s stock valued at $20,484,000 after purchasing an additional 762,888 shares in the last quarter. AIGH Capital Management LLC purchased a new stake in Digital Turbine during the first quarter worth $14,100,000. Bank of America Corp DE boosted its position in Digital Turbine by 17.4% during the first quarter. Bank of America Corp DE now owns 3,619,171 shares of the software maker’s stock worth $10,423,000 after purchasing an additional 535,169 shares in the last quarter. Dimensional Fund Advisors LP grew its holdings in Digital Turbine by 56.1% in the first quarter. Dimensional Fund Advisors LP now owns 2,353,594 shares of the software maker’s stock valued at $6,778,000 after purchasing an additional 846,116 shares during the last quarter. Finally, GC Wealth Management RIA LLC grew its holdings in Digital Turbine by 41.9% in the first quarter. GC Wealth Management RIA LLC now owns 576,273 shares of the software maker’s stock valued at $1,660,000 after purchasing an additional 170,134 shares during the last quarter. Institutional investors and hedge funds own 63.66% of the company’s stock.

Digital Turbine Price Performance

The company has a market cap of $1.16 billion, a price-to-earnings ratio of -36.77, a price-to-earnings-growth ratio of 0.45 and a beta of 3.02. The company has a fifty day simple moving average of $11.20 and a two-hundred day simple moving average of $8.59. The company has a quick ratio of 1.20, a current ratio of 1.20 and a debt-to-equity ratio of 1.80.

Digital Turbine (NASDAQ:APPS) last released its quarterly earnings results on Tuesday, August 4th. The software maker reported $0.19 earnings per share (EPS) for the quarter, topping the consensus estimate 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 business had revenue of $165.98 million during the quarter, compared to the consensus estimate of $149.98 million. On average, equities research analysts anticipate that Digital Turbine, Inc. will post 0.75 earnings per share for the current fiscal year.

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.