Digital Turbine (NASDAQ:APPS) Trading 9.5% Higher – Time to Buy?

Digital Turbine, Inc. (NASDAQ:APPS)’s stock price was up 9.5% on Wednesday . The company traded as high as $10.21 and last traded at $10.1410. 2,754,849 shares changed hands during trading, a decline of 33% from the average session volume of 4,098,005 shares. The stock had previously closed at $9.26.

Analyst Ratings Changes

A number of research analysts recently commented on APPS shares. Bank of America upgraded Digital Turbine from a “neutral” rating to a “buy” rating and set a $7.50 price target on the stock in a research report on Wednesday, May 27th. Wall Street Zen raised Digital Turbine from a “hold” rating to a “buy” rating in a research report on Saturday, May 9th. Zacks Research raised Digital Turbine from a “hold” rating to a “strong-buy” rating in a research note on Thursday, May 28th. Finally, Weiss Ratings lowered shares of Digital Turbine from a “sell (d-)” rating to a “sell (e+)” rating in a report on Friday, June 5th. One investment analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $8.75.

Digital Turbine Trading Up 2.4%

The firm has a 50 day simple moving average of $6.25 and a two-hundred day simple moving average of $5.00. The firm has a market capitalization of $1.26 billion, a P/E ratio of -28.42, a PEG ratio of 0.79 and a beta of 2.85. The company has a debt-to-equity ratio of 1.84, a quick ratio of 1.16 and a current ratio of 1.16.

Digital Turbine (NASDAQ:APPS) last issued its quarterly earnings results on Tuesday, May 26th. The software maker reported $0.16 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.09 by $0.07. Digital Turbine had a negative net margin of 6.68% and a positive return on equity of 27.60%. The company had revenue of $142.55 million during the quarter, compared to analyst estimates of $133.22 million. Equities research analysts forecast that Digital Turbine, Inc. will post 0.68 earnings per share for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Citigroup Inc. increased its stake in shares of Digital Turbine by 642.7% in the 3rd quarter. Citigroup Inc. now owns 316,825 shares of the software maker’s stock worth $2,028,000 after acquiring an additional 274,169 shares in the last quarter. Granahan Investment Management LLC lifted its holdings in shares of Digital Turbine by 77.2% during 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 purchasing an additional 2,489,376 shares in the last quarter. UBS Group AG boosted its position in shares of Digital Turbine by 444.0% during the fourth quarter. UBS Group AG now owns 779,585 shares of the software maker’s stock valued at $3,898,000 after buying an additional 636,267 shares during the last quarter. S Squared Technology LLC increased its holdings in Digital Turbine by 13.0% in the 4th quarter. S Squared Technology LLC now owns 653,571 shares of the software maker’s stock worth $3,268,000 after buying an additional 75,000 shares in the last quarter. Finally, Manatuck Hill Partners LLC increased its holdings in Digital Turbine by 233.3% in the 4th quarter. Manatuck Hill Partners LLC now owns 2,000,000 shares of the software maker’s stock worth $10,000,000 after buying an additional 1,400,000 shares in the last quarter. Hedge funds and other institutional investors own 63.66% of the company’s stock.

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.