Digital Turbine (NASDAQ:APPS) Stock Picked Up by Analysts at Northland Securities

Stock analysts at Northland Securities assumed coverage on shares of Digital Turbine (NASDAQ:APPS) in a research note issued on Thursday, Briefing.com reports. The firm set an “outperform” rating and a $17.00 price target on the software maker’s stock. Northland Securities‘s price objective suggests a potential upside of 71.54% from the stock’s current price.

Other equities research analysts have also recently issued reports about the company. Royal Bank Of Canada assumed coverage on Digital Turbine in a research note on Thursday, October 1st. They set an “outperform” rating and a $15.00 price objective for the company. Benchmark lifted their target price on Digital Turbine from $15.00 to $16.00 and gave the company a “buy” rating in a research note on Wednesday, August 5th. Zacks Research downgraded shares of Digital Turbine from a “strong-buy” rating to a “hold” rating in a report on Monday, July 27th. Wall Street Zen raised shares of Digital Turbine from a “buy” rating to a “strong-buy” rating in a research report on Saturday, August 29th. Finally, TD Cowen restated a “hold” rating on shares of Digital Turbine in a report on Tuesday, September 29th. Six equities research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $15.42.

Digital Turbine Stock Performance

Shares of NASDAQ:APPS opened at $9.91 on Thursday. The firm has a 50 day moving average of $10.79 and a 200 day moving average of $7.50. The company has a quick ratio of 1.20, a current ratio of 1.20 and a debt-to-equity ratio of 1.80. The company has a market capitalization of $1.20 billion, a price-to-earnings ratio of -38.12, a price-to-earnings-growth ratio of 0.47 and a beta of 3.02. Digital Turbine has a 52 week low of $2.74 and a 52 week high of $15.34.

Digital Turbine (NASDAQ:APPS) last announced its 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 business had revenue of $165.98 million for the quarter, compared to analysts’ expectations of $149.98 million. On average, sell-side analysts predict that Digital Turbine will post 0.68 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. AIGH Capital Management LLC acquired a new stake in Digital Turbine during the first quarter valued at $14,100,000. Dimensional Fund Advisors LP raised its position in shares of Digital Turbine by 56.1% in the first quarter. Dimensional Fund Advisors LP now owns 2,353,594 shares of the software maker’s stock worth $6,778,000 after acquiring an additional 846,116 shares during the period. Granahan Investment Management LLC boosted its stake in shares of Digital Turbine by 12.0% during the 1st quarter. Granahan Investment Management LLC now owns 7,112,351 shares of the software maker’s stock worth $20,484,000 after acquiring an additional 762,888 shares in the last quarter. Bank of America Corp DE boosted its stake in shares of Digital Turbine by 17.4% during the 1st quarter. Bank of America Corp DE now owns 3,619,171 shares of the software maker’s stock worth $10,423,000 after acquiring an additional 535,169 shares in the last quarter. Finally, Segall Bryant & Hamill LLC acquired a new stake in shares of Digital Turbine during the 1st quarter valued at about $1,283,000. 63.66% of the stock is currently owned by hedge funds and other institutional investors.

Digital Turbine Company Profile

Digital Turbine, Inc (NASDAQ: APPS) is a mobile advertising and application distribution company that helps advertisers, mobile carriers, device manufacturers and application developers connect with smartphone users. Its platform is designed to support the discovery, distribution, promotion and monetization of mobile applications and digital content.

The company provides technology that can be integrated into mobile devices and operating systems, including tools for app recommendations, device setup and application installation.