Digital Turbine (NASDAQ:APPS) Price Target Raised to $7.00 at Craig Hallum

Digital Turbine (NASDAQ:APPS) had its target price boosted by investment analysts at Craig Hallum from $4.00 to $7.00 in a research note issued on Tuesday,Benzinga reports. The firm presently has a “buy” rating on the software maker’s stock. Craig Hallum’s price objective points to a potential upside of 0.19% from the company’s previous close.

Separately, Wall Street Zen lowered Digital Turbine from a “hold” rating to a “sell” rating in a report on Monday, March 24th.

Digital Turbine Stock Up 45.3%

Shares of APPS traded up $2.18 during midday trading on Tuesday, reaching $6.99. 31,898,730 shares of the stock were exchanged, compared to its average volume of 4,589,509. The company has a market cap of $733.68 million, a price-to-earnings ratio of -2.31 and a beta of 2.58. The company has a quick ratio of 1.06, a current ratio of 1.06 and a debt-to-equity ratio of 2.50. Digital Turbine has a 12-month low of $1.18 and a 12-month high of $7.14. The firm has a 50 day simple moving average of $3.94 and a 200-day simple moving average of $3.19.

Digital Turbine (NASDAQ:APPS) last released its quarterly earnings data on Monday, June 16th. The software maker reported $0.10 EPS for the quarter, topping analysts’ consensus estimates of $0.05 by $0.05. The firm had revenue of $119.15 million for the quarter, compared to the consensus estimate of $116.64 million. Digital Turbine had a positive return on equity of 3.41% and a negative net margin of 64.06%. During the same quarter in the prior year, the company posted $0.12 earnings per share. Research analysts forecast that Digital Turbine will post -0.03 EPS for the current year.

Institutional Trading of Digital Turbine

A number of institutional investors and hedge funds have recently modified their holdings of the company. Marshall Wace LLP acquired a new position in Digital Turbine during the 4th quarter worth $1,698,000. Segall Bryant & Hamill LLC acquired a new position in shares of Digital Turbine during the 1st quarter worth about $2,710,000. Vanguard Group Inc. boosted its stake in Digital Turbine by 11.2% during the 1st quarter. Vanguard Group Inc. now owns 8,869,396 shares of the software maker’s stock valued at $24,080,000 after purchasing an additional 893,035 shares during the period. Greenhaven Road Investment Management L.P. grew its holdings in Digital Turbine by 467.1% in the 1st quarter. Greenhaven Road Investment Management L.P. now owns 1,025,951 shares of the software maker’s stock valued at $2,785,000 after buying an additional 845,051 shares during the last quarter. Finally, Russell Investments Group Ltd. increased its position in Digital Turbine by 29,604.4% in the 1st quarter. Russell Investments Group Ltd. now owns 821,327 shares of the software maker’s stock worth $2,230,000 after buying an additional 818,562 shares during the period. 63.66% of the stock is currently owned by institutional investors and hedge funds.

Digital Turbine Company Profile

Digital Turbine, Inc, through its subsidiaries, operates a mobile growth platform for advertisers, publishers, carriers, and device original equipment manufacturers (OEMs). The company operates through two segments, On Device Solutions and App Growth Platform. Its application media platform delivers mobile applications to various publishers, carriers, OEMs, and devices; and content media platform offers news, weather, sports, and other content, as well as programmatic advertising and media content delivery services, and sponsored and editorial content media.