Digital Turbine (NASDAQ:APPS) Stock Rating Upgraded by Bank of America

Digital Turbine (NASDAQ:APPS) was upgraded by stock analysts at Bank of America from a “neutral” rating to a “buy” rating in a research report issued to clients and investors on Wednesday. The brokerage presently has a $7.50 price objective on the software maker’s stock. Bank of America‘s target price points to a potential upside of 55.93% from the company’s current price.

Other equities research analysts have also recently issued research reports about the stock. Wall Street Zen upgraded shares of Digital Turbine from a “hold” rating to a “buy” rating in a report on Saturday, May 9th. Weiss Ratings reissued a “sell (d-)” rating on shares of Digital Turbine in a research report on Friday, March 27th. Finally, Zacks Research downgraded Digital Turbine from a “strong-buy” rating to a “hold” rating in a research note on Monday, April 6th. Two equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, Digital Turbine currently has a consensus rating of “Hold” and a consensus price target of $8.75.

Digital Turbine Stock Performance

Shares of Digital Turbine stock opened at $4.81 on Wednesday. The company has a current ratio of 1.10, a quick ratio of 1.10 and a debt-to-equity ratio of 1.80. The firm has a market capitalization of $576.72 million, a P/E ratio of -10.02, a P/E/G ratio of 0.18 and a beta of 2.40. The business has a fifty day simple moving average of $3.55 and a two-hundred day simple moving average of $4.36. Digital Turbine has a 12 month low of $2.74 and a 12 month high of $8.28.

Digital Turbine (NASDAQ:APPS) last released its earnings results on Tuesday, May 26th. The software maker reported $0.16 earnings per share for the quarter, topping analysts’ consensus estimates of $0.09 by $0.07. The firm had revenue of $142.55 million for the quarter, compared to the consensus estimate of $133.23 million. Digital Turbine had a negative net margin of 8.93% and a positive return on equity of 21.26%. On average, equities analysts forecast that Digital Turbine will post 0.21 earnings per share for the current fiscal year.

Institutional Trading of Digital Turbine

A number of institutional investors and hedge funds have recently bought and sold shares of APPS. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in Digital Turbine by 4.4% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 57,539 shares of the software maker’s stock valued at $156,000 after purchasing an additional 2,449 shares in the last quarter. Goldman Sachs Group Inc. lifted its stake in shares of Digital Turbine by 74.8% in the first quarter. Goldman Sachs Group Inc. now owns 1,021,687 shares of the software maker’s stock worth $2,774,000 after buying an additional 437,310 shares in the last quarter. Strs Ohio purchased a new stake in shares of Digital Turbine during the first quarter valued at approximately $41,000. Creative Planning grew its holdings in shares of Digital Turbine by 39.2% during the second quarter. Creative Planning now owns 21,289 shares of the software maker’s stock valued at $126,000 after buying an additional 5,991 shares during the last quarter. Finally, JPMorgan Chase & Co. increased its position in shares of Digital Turbine by 272.0% during the second quarter. JPMorgan Chase & Co. now owns 686,327 shares of the software maker’s stock valued at $4,049,000 after acquiring an additional 501,829 shares in the last quarter. 63.66% of the stock is currently owned by institutional investors.

Digital Turbine Company Profile

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.