Digital Turbine, Inc. (NASDAQ:APPS) Stock Has Average Price Target of $14.80 According to Brokerages

Shares of Digital Turbine, Inc. (NASDAQ:APPS) have been assigned a consensus rating of “Moderate Buy” from the eight research firms that are presently covering the firm, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, two have issued a hold recommendation and five have issued a buy recommendation on the company. The average 12 month price target among brokers that have issued ratings on the stock in the last year is $14.80.

APPS has been the topic of a number of recent analyst reports. Wall Street Zen raised Digital Turbine from a “buy” rating to a “strong-buy” rating in a research report on Saturday, August 29th. Craig Hallum reiterated a “buy” rating and issued a $18.00 price target on shares of Digital Turbine in a research report on Wednesday, August 5th. TD Cowen reissued a “hold” rating on shares of Digital Turbine in a research note on Tuesday, September 29th. Royal Bank Of Canada initiated coverage on Digital Turbine in a report on Thursday, October 1st. They set an “outperform” rating and a $15.00 price objective on the stock. Finally, Benchmark upped their price objective on shares of Digital Turbine from $15.00 to $16.00 and gave the company a “buy” rating in a research note on Wednesday, August 5th.

Digital Turbine Trading Down 6.4%

Shares of NASDAQ:APPS opened at $10.49 on Friday. The company has a debt-to-equity ratio of 1.80, a quick ratio of 1.20 and a current ratio of 1.20. The stock has a market capitalization of $1.27 billion, a price-to-earnings ratio of -40.35, a PEG ratio of 0.48 and a beta of 3.02. Digital Turbine has a 1-year low of $2.74 and a 1-year high of $15.34. The company has a 50 day moving average price of $11.24 and a 200 day moving average price of $8.22.

Digital Turbine (NASDAQ:APPS) last posted its quarterly earnings results on Tuesday, August 4th. The software maker reported $0.19 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.14 by $0.05. Digital Turbine had a positive return on equity of 38.34% and a negative net margin of 4.46%.The company had revenue of $165.98 million for the quarter, compared to analysts’ expectations of $149.98 million. On average, research analysts anticipate that Digital Turbine will post 0.75 EPS for the current fiscal year.

Institutional Investors Weigh In On Digital Turbine

Large investors have recently made changes to their positions in the company. Granahan Investment Management LLC boosted its stake in Digital Turbine by 12.0% in the 1st quarter. Granahan Investment Management LLC now owns 7,112,351 shares of the software maker’s stock worth $20,484,000 after purchasing an additional 762,888 shares during the period. AIGH Capital Management LLC purchased a new position in shares of Digital Turbine during the first quarter valued at $14,100,000. Bank of America Corp DE grew its holdings in shares of Digital Turbine by 17.4% during the first quarter. Bank of America Corp DE now owns 3,619,171 shares of the software maker’s stock valued at $10,423,000 after buying an additional 535,169 shares in the last quarter. Dimensional Fund Advisors LP raised its position in Digital Turbine by 56.1% during the first quarter. Dimensional Fund Advisors LP now owns 2,353,594 shares of the software maker’s stock valued at $6,778,000 after buying an additional 846,116 shares during the period. Finally, Manatuck Hill Partners LLC lifted its stake 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 acquiring an additional 1,400,000 shares in the last quarter. Institutional investors and hedge funds own 63.66% of the company’s stock.

About Digital Turbine

Digital Turbine, Inc is a mobile advertising and application-growth company that helps advertisers, app developers, wireless carriers and device manufacturers connect with mobile users. Its platform supports the distribution, promotion and monetization of applications across smartphones and other connected devices.

The company’s products and services include on-device app discovery and recommendation tools, app-install solutions, mobile advertising formats, audience-targeting capabilities and programmatic advertising technology.