Digital Turbine (NASDAQ:APPS) Raised to Strong-Buy at Zacks Research

Digital Turbine (NASDAQ:APPS) was upgraded by stock analysts at Zacks Research from a “hold” rating to a “strong-buy” rating in a research report issued on Thursday,Zacks.com reports.

A number of other research firms also recently weighed in on APPS. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Digital Turbine in a research report on Friday, March 27th. Bank of America raised Digital Turbine from a “neutral” rating to a “buy” rating and set a $7.50 price target for the company in a research report on Wednesday. Finally, Wall Street Zen raised Digital Turbine from a “hold” rating to a “buy” rating in a research report on Saturday, May 9th. One research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and one has given a Sell rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $8.75.

Digital Turbine Trading Up 4.5%

NASDAQ:APPS opened at $8.78 on Thursday. Digital Turbine has a twelve month low of $2.74 and a twelve month high of $9.26. The company has a quick ratio of 1.10, a current ratio of 1.16 and a debt-to-equity ratio of 1.84. The business has a 50 day moving average price of $3.82 and a two-hundred day moving average price of $4.41. The company has a market cap of $1.06 billion, a P/E ratio of -24.39, a price-to-earnings-growth ratio of 0.64 and a beta of 2.40.

Digital Turbine (NASDAQ:APPS) last released its quarterly 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. Digital Turbine had a positive return on equity of 27.60% and a negative net margin of 6.68%.The firm had revenue of $142.55 million during the quarter, compared to the consensus estimate of $133.23 million. As a group, analysts expect that Digital Turbine will post 0.69 EPS for the current fiscal year.

Institutional Investors Weigh In On Digital Turbine

Several large investors have recently made changes to their positions in the stock. Vanguard Group Inc. boosted its holdings in shares of Digital Turbine by 0.3% in the 4th quarter. Vanguard Group Inc. now owns 9,101,779 shares of the software maker’s stock valued at $45,509,000 after buying an additional 29,540 shares during the last quarter. Granahan Investment Management LLC boosted its holdings in shares of 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 valued at $20,484,000 after buying an additional 762,888 shares during the last quarter. AIGH Capital Management LLC acquired a new stake in shares of Digital Turbine in the 1st quarter valued at approximately $14,100,000. Bank of America Corp DE boosted its holdings in shares of Digital Turbine by 17.4% in the 1st 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 during the last quarter. Finally, Geode Capital Management LLC boosted its holdings in shares of Digital Turbine by 4.6% in the 4th quarter. Geode Capital Management LLC now owns 2,528,772 shares of the software maker’s stock valued at $12,646,000 after buying an additional 110,871 shares during the last quarter. Institutional investors and hedge funds own 63.66% of the company’s stock.

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.