Digital Turbine (NASDAQ:APPS) Hits New 1-Year High Following Better-Than-Expected Earnings

Digital Turbine, Inc. (NASDAQ:APPS) shares hit a new 52-week high during trading on Wednesday after the company announced better than expected quarterly earnings. The company traded as high as $13.98 and last traded at $13.98, with a volume of 5630249 shares trading hands. The stock had previously closed at $9.51.

The software maker reported $0.19 earnings per share for the quarter, topping the consensus estimate of $0.14 by $0.05. The firm had revenue of $165.98 million during the quarter, compared to analysts’ expectations of $149.98 million. Digital Turbine had a positive return on equity of 38.34% and a negative net margin of 4.46%.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on APPS shares. Zacks Research downgraded Digital Turbine from a “strong-buy” rating to a “hold” rating in a report on Monday, July 27th. Bank of America raised Digital Turbine from a “neutral” rating to a “buy” rating and set a $7.50 target price on the stock in a research report on Wednesday, May 27th. Weiss Ratings downgraded Digital Turbine from a “sell (d-)” rating to a “sell (e+)” rating in a report on Friday, June 5th. Wall Street Zen raised shares of Digital Turbine from a “buy” rating to a “strong-buy” rating in a research report on Saturday, July 18th. Finally, Craig Hallum reaffirmed a “buy” rating and issued a $18.00 target price on shares of Digital Turbine in a report on Wednesday. Four investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $14.75.

Institutional Investors Weigh In On Digital Turbine

Several large investors have recently made changes to their positions in APPS. Bank of New York Mellon Corp bought a new position in shares of Digital Turbine during the 2nd quarter valued at approximately $5,374,000. CoreCap Advisors LLC acquired a new position in Digital Turbine during the 2nd quarter valued at about $674,000. Segall Bryant & Hamill LLC acquired a new position in Digital Turbine during the 1st quarter valued at approximately $1,283,000. Verus Capital Partners LLC purchased a new stake in Digital Turbine during the 1st quarter valued at about $35,000. Finally, Essential Partners LLC raised its position in Digital Turbine by 167.3% during the 1st quarter. Essential Partners LLC now owns 9,031 shares of the software maker’s stock worth $26,000 after buying an additional 5,652 shares during the last quarter. 63.66% of the stock is owned by institutional investors.

Digital Turbine Price Performance

The stock’s 50 day moving average price is $9.85 and its two-hundred day moving average price is $6.08. The stock has a market cap of $1.73 billion, a price-to-earnings ratio of -54.88, a price-to-earnings-growth ratio of 1.02 and a beta of 2.81. The company has a quick ratio of 1.16, a current ratio of 1.20 and a debt-to-equity ratio of 1.80.

About Digital Turbine

Digital Turbine, Inc (NASDAQ: APPS) is a mobile technology company that streamlines content delivery and app advertising across connected devices. Its platform enables carriers, OEMs, app developers and advertisers to engage users through personalized app recommendations, in-app promotions and turnkey monetization solutions. By integrating software directly on smartphones and tablets, Digital Turbine simplifies the user journey from discovery to installation without requiring additional downloads or redirects through traditional app stores.

The company’s flagship Ignite Platform offers end-to-end campaign management, combining demand-side advertising, real-time analytics and automated content fulfillment.