Digital Turbine (NASDAQ:APPS) Trading 7.7% Higher – Should You Buy?

Shares of Digital Turbine, Inc. (NASDAQ:APPS) traded up 7.7% during mid-day trading on Tuesday . The company traded as high as $5.06 and last traded at $4.9950. 813,223 shares changed hands during mid-day trading, a decline of 84% from the average session volume of 4,960,387 shares. The stock had previously closed at $4.64.

Analyst Ratings Changes

Several equities analysts recently commented on APPS shares. Zacks Research raised Digital Turbine from a “hold” rating to a “strong-buy” rating in a research report on Thursday, November 6th. Craig Hallum reaffirmed a “buy” rating and issued a $10.00 price objective on shares of Digital Turbine in a research report on Wednesday, November 5th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Digital Turbine in a research report on Monday. One equities research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $7.75.

Digital Turbine Stock Performance

The company has a market capitalization of $613.46 million, a price-to-earnings ratio of -7.49, a price-to-earnings-growth ratio of 1.45 and a beta of 2.30. The company has a current ratio of 1.10, a quick ratio of 1.10 and a debt-to-equity ratio of 2.66. The stock has a 50-day simple moving average of $5.61 and a 200-day simple moving average of $5.33.

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

Institutional Trading of Digital Turbine

Institutional investors and hedge funds have recently modified their holdings of the business. CIBC Bancorp USA Inc. bought a new position in shares of Digital Turbine in the 3rd quarter worth about $71,000. Worth Venture Partners LLC raised its stake in Digital Turbine by 407.0% during the third quarter. Worth Venture Partners LLC now owns 63,375 shares of the software maker’s stock worth $406,000 after acquiring an additional 50,875 shares during the period. Verition Fund Management LLC lifted its holdings in Digital Turbine by 206.2% in the third quarter. Verition Fund Management LLC now owns 104,854 shares of the software maker’s stock worth $671,000 after acquiring an additional 70,615 shares during the last quarter. Mariner LLC lifted its holdings in Digital Turbine by 4.6% in the third quarter. Mariner LLC now owns 120,309 shares of the software maker’s stock worth $770,000 after acquiring an additional 5,272 shares during the last quarter. Finally, Granahan Investment Management LLC boosted its stake in Digital Turbine by 77.2% in the third quarter. Granahan Investment Management LLC now owns 5,713,937 shares of the software maker’s stock valued at $36,569,000 after acquiring an additional 2,489,376 shares during the period. 63.66% of the stock is 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.