Digital Turbine Inc (NASDAQ:APPS) – Stock analysts at B. Riley boosted their Q3 2020 earnings estimates for shares of Digital Turbine in a research note issued on Tuesday, November 5th. B. Riley analyst L. Krowl now anticipates that the software maker will earn $0.04 per share for the quarter, up from their prior forecast of $0.02. B. Riley has a “Buy” rating and a $7.00 price target on the stock. B. Riley also issued estimates for Digital Turbine’s Q1 2021 earnings at $0.02 EPS, Q2 2021 earnings at $0.04 EPS, Q3 2021 earnings at $0.07 EPS, Q4 2021 earnings at $0.04 EPS and FY2021 earnings at $0.17 EPS.
Several other analysts have also recently commented on the stock. ValuEngine cut shares of Digital Turbine from a “buy” rating to a “hold” rating in a research note on Wednesday, October 2nd. Zacks Investment Research upgraded shares of Digital Turbine from a “hold” rating to a “strong-buy” rating and set a $7.75 target price for the company in a research note on Wednesday. Finally, BidaskClub cut shares of Digital Turbine from a “strong-buy” rating to a “buy” rating in a research note on Saturday, November 2nd. One research analyst has rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average target price of $6.06.
Several institutional investors and hedge funds have recently made changes to their positions in the company. BlackRock Inc. increased its holdings in shares of Digital Turbine by 298.8% in the 2nd quarter. BlackRock Inc. now owns 5,105,929 shares of the software maker’s stock valued at $25,529,000 after purchasing an additional 3,825,466 shares in the last quarter. Vanguard Group Inc. increased its holdings in shares of Digital Turbine by 35.9% in the 2nd quarter. Vanguard Group Inc. now owns 3,560,468 shares of the software maker’s stock valued at $17,802,000 after purchasing an additional 940,198 shares in the last quarter. Allianz Asset Management GmbH purchased a new position in shares of Digital Turbine in the 2nd quarter valued at about $5,204,000. Acadian Asset Management LLC increased its holdings in shares of Digital Turbine by 50.3% in the 2nd quarter. Acadian Asset Management LLC now owns 929,641 shares of the software maker’s stock valued at $4,648,000 after purchasing an additional 310,980 shares in the last quarter. Finally, Invesco Ltd. purchased a new position in shares of Digital Turbine in the 2nd quarter valued at about $2,847,000. Institutional investors and hedge funds own 37.66% of the company’s stock.
Digital Turbine Company Profile
Digital Turbine, Inc, through its subsidiaries, provides media and mobile communication solutions for mobile operators, application developers, device original equipment manufacturers, and other third parties worldwide. The company offers Ignite, a mobile application management software to control, manage, and monetize the applications that are installed on mobile devices and professional services directly related to the ignite platform.
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