Digital Turbine (NASDAQ:APPS) Stock Rating Upgraded by Zacks Research

Digital Turbine (NASDAQ:APPS) was upgraded by stock analysts at Zacks Research from a “hold” rating to a “strong-buy” rating in a report issued on Thursday,Zacks.com reports.

Several other research firms have also recently weighed in on APPS. Weiss Ratings reiterated a “sell (d-)” rating on shares of Digital Turbine in a report on Wednesday, October 8th. Bank of America upgraded shares of Digital Turbine from an “underperform” rating to a “neutral” rating and boosted their price target for the company from $4.50 to $5.50 in a research report on Wednesday, August 6th. Wall Street Zen downgraded Digital Turbine from a “buy” rating to a “hold” rating in a report on Saturday, August 9th. Finally, Craig Hallum reaffirmed a “buy” rating and set a $10.00 target price on shares of Digital Turbine in a research note on Wednesday. One investment analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $7.75.

Digital Turbine Stock Performance

Digital Turbine stock opened at $5.99 on Thursday. Digital Turbine has a 1-year low of $1.18 and a 1-year high of $8.28. The firm has a market cap of $671.78 million, a P/E ratio of -8.21, a P/E/G ratio of 1.84 and a beta of 2.55. The company has a current ratio of 1.10, a quick ratio of 1.09 and a debt-to-equity ratio of 2.66. The firm has a 50-day moving average of $5.83 and a 200-day moving average of $5.12.

Digital Turbine (NASDAQ:APPS) last released its quarterly earnings data on Tuesday, November 4th. The software maker reported $0.15 earnings per share for the quarter, topping the consensus estimate of $0.06 by $0.09. The business had revenue of $140.38 million during the quarter, compared to analysts’ expectations of $142.00 million. Digital Turbine had a positive return on equity of 12.12% and a negative net margin of 14.59%. Sell-side analysts expect that Digital Turbine will post -0.03 EPS for the current year.

Institutional Investors Weigh In On Digital Turbine

Several large investors have recently bought and sold shares of APPS. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in Digital Turbine by 4.4% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 57,539 shares of the software maker’s stock valued at $156,000 after purchasing an additional 2,449 shares in the last quarter. Legal & General Group Plc increased its position in Digital Turbine by 31.6% in the second quarter. Legal & General Group Plc now owns 10,624 shares of the software maker’s stock worth $63,000 after buying an additional 2,550 shares in the last quarter. Osaic Holdings Inc. raised its stake in shares of Digital Turbine by 22.5% in the second quarter. Osaic Holdings Inc. now owns 18,073 shares of the software maker’s stock worth $107,000 after buying an additional 3,322 shares during the period. State of Alaska Department of Revenue purchased a new position in shares of Digital Turbine during the 3rd quarter valued at about $31,000. Finally, Creative Planning grew its stake in shares of Digital Turbine by 39.2% during the 2nd quarter. Creative Planning now owns 21,289 shares of the software maker’s stock valued at $126,000 after acquiring an additional 5,991 shares during the period. 63.66% of the stock is currently owned by institutional investors.

About Digital Turbine

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.