Digital Turbine (NASDAQ:APPS) Stock Jumps 9.8% – Should You Buy?

Shares of Digital Turbine, Inc. (NASDAQ:APPS) rose 9.8% during mid-day trading on Tuesday. The company traded as high as $9.26 and last traded at $9.2930. Approximately 914,648 shares were traded during trading, a decline of 76% from the average session volume of 3,784,407 shares. The stock had previously closed at $8.46.

Analyst Upgrades and Downgrades

APPS has been the subject of a number of research reports. Wall Street Zen downgraded shares of Digital Turbine from a “strong-buy” rating to a “buy” rating in a report on Saturday, October 31st. Zacks Research lowered shares of Digital Turbine from a “strong-buy” rating to a “hold” rating in a research report on Monday, July 27th. TD Cowen restated a “hold” rating on shares of Digital Turbine in a research note on Tuesday, September 29th. Craig Hallum reaffirmed a “buy” rating and issued a $18.00 price target on shares of Digital Turbine in a report on Wednesday, August 5th. Finally, Northland Securities began coverage on Digital Turbine in a research report on Thursday, October 29th. They issued an “outperform” rating and a $17.00 price objective for the company. Six research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company’s stock. 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 1.4%

The business’s fifty day moving average price is $10.61 and its 200 day moving average price is $7.63. The company has a market capitalization of $1.17 billion, a P/E ratio of 17.04, a P/E/G ratio of 0.49 and a beta of 3.01. The company has a current ratio of 1.20, a quick ratio of 1.20 and a debt-to-equity ratio of 1.80.

Digital Turbine (NASDAQ:APPS) last posted its earnings results 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. The business had revenue of $165.98 million for the quarter, compared to analysts’ expectations of $149.98 million. Digital Turbine had a negative net margin of 4.46% and a positive return on equity of 38.34%. As a group, equities research analysts predict that Digital Turbine, Inc. will post 0.63 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Digital Turbine

A number of hedge funds have recently modified their holdings of APPS. TD Waterhouse Canada Inc. acquired a new stake in Digital Turbine in the 3rd quarter valued at $25,000. Integrated Wealth Concepts LLC bought a new stake in Digital Turbine in the second quarter valued at $56,000. Allworth Financial LP grew its position in Digital Turbine by 42.4% in the second quarter. Allworth Financial LP now owns 5,698 shares of the software maker’s stock valued at $74,000 after acquiring an additional 1,696 shares during the period. Essential Partners LLC raised its stake in Digital Turbine by 167.3% during the first quarter. Essential Partners LLC now owns 9,031 shares of the software maker’s stock worth $26,000 after acquiring an additional 5,652 shares in the last quarter. Finally, State of Alaska Department of Revenue raised its stake in Digital Turbine by 86.9% during the third quarter. State of Alaska Department of Revenue now owns 9,223 shares of the software maker’s stock worth $102,000 after acquiring an additional 4,288 shares in the last quarter. 63.66% of the stock is owned by institutional investors and hedge funds.

About Digital Turbine

Digital Turbine, Inc (NASDAQ: APPS) is a mobile advertising and application distribution company that helps advertisers, mobile carriers, device manufacturers and application developers connect with smartphone users. Its platform is designed to support the discovery, distribution, promotion and monetization of mobile applications and digital content.

The company provides technology that can be integrated into mobile devices and operating systems, including tools for app recommendations, device setup and application installation.