Digital Turbine (NASDAQ:APPS) Stock Jumps 4.6% – Here’s Why

Digital Turbine, Inc. (NASDAQ:APPS) shares rose 4.6% on Friday. The company traded as high as $7.67 and last traded at $7.6390. 406,573 shares traded hands during trading, a decline of 90% from the average session volume of 3,888,746 shares. The stock had previously closed at $7.30.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on the stock. Benchmark lifted their price target on shares of Digital Turbine from $15.00 to $16.00 and gave the stock a “buy” rating in a research note on Wednesday, August 5th. Weiss Ratings restated a “sell (e+)” rating on shares of Digital Turbine in a research note on Wednesday, September 2nd. Zacks Research cut shares of Digital Turbine from a “strong-buy” rating to a “hold” rating in a research note on Monday, July 27th. TD Cowen reaffirmed a “hold” rating on shares of Digital Turbine in a report on Tuesday, September 29th. Finally, Roth Capital assumed coverage on shares of Digital Turbine in a research report on Thursday, October 15th. They set a “buy” rating and a $19.00 target price on the stock. Six 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, Digital Turbine currently has an average rating of “Moderate Buy” and a consensus target price of $15.42.

Digital Turbine Stock Up 0.9%

The firm has a market capitalization of $898.21 million, a price-to-earnings ratio of 12.93, a P/E/G ratio of 0.40 and a beta of 3.01. The firm has a fifty day moving average price of $10.43 and a 200 day moving average price of $7.71. The company has a current ratio of 1.25, a quick ratio of 1.20 and a debt-to-equity ratio of 1.75.

Digital Turbine (NASDAQ:APPS) last released its quarterly earnings results on Monday, November 9th. The software maker reported $0.18 earnings per share for the quarter, beating analysts’ consensus estimates of $0.17 by $0.01. The firm had revenue of $178.68 million during the quarter, compared to analysts’ expectations of $166.75 million. Digital Turbine had a return on equity of 41.27% and a net margin of 0.77%. Sell-side analysts anticipate that Digital Turbine, Inc. will post 0.63 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the business. Creek Drive Management Group LLC acquired a new stake in Digital Turbine in the 3rd quarter valued at about $3,774,000. Landscape Capital Management L.L.C. acquired a new position in shares of Digital Turbine during the third quarter worth approximately $149,000. Royce & Associates LP lifted its position in shares of Digital Turbine by 107.8% during the third quarter. Royce & Associates LP now owns 293,058 shares of the software maker’s stock worth $3,253,000 after purchasing an additional 152,027 shares in the last quarter. Diversified Trust Co acquired a new position in shares of Digital Turbine during the third quarter worth approximately $299,000. Finally, Aberdeen Group plc bought a new stake in shares of Digital Turbine during the third quarter valued at approximately $3,955,000. 63.66% of the stock is owned by institutional investors.

About Digital Turbine

Digital Turbine, Inc. provides mobile technology and advertising solutions that connect app developers and advertisers with consumers through smartphones and other connected devices. Its platform supports app discovery, user acquisition, and advertising across the mobile ecosystem. The company’s services include on-device app recommendations and installation tools, as well as advertising solutions for app publishers and brands. Digital Turbine works with mobile operators and device manufacturers to deliver these services to users.