Digital Turbine (NASDAQ:APPS) Trading 9.3% Higher – Here’s Why

Digital Turbine, Inc. (NASDAQ:APPS)’s stock price traded up 9.3% during trading on Thursday . The company traded as high as $10.65 and last traded at $10.6930. Approximately 1,399,753 shares traded hands during trading, a decline of 65% from the average daily volume of 4,037,989 shares. The stock had previously closed at $9.78.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports 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 note on Wednesday, May 27th. Benchmark increased their target price on shares of Digital Turbine from $15.00 to $16.00 and gave the stock a “buy” rating in a research report on Wednesday, August 5th. Craig Hallum reiterated a “buy” rating and issued a $18.00 price objective on shares of Digital Turbine in a report on Wednesday, August 5th. Roth Capital reaffirmed a “buy” rating and set a $17.50 price objective on shares of Digital Turbine in a research report on Thursday, August 6th. Finally, Wall Street Zen upgraded shares of Digital Turbine from a “buy” rating to a “strong-buy” rating in a research report on Saturday, August 29th. Four investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $14.75.

Digital Turbine Stock Up 10.1%

The firm has a market cap of $1.30 billion, a PE ratio of -41.23, a PEG ratio of 0.43 and a beta of 2.87. The business’s 50 day moving average price is $10.76 and its 200 day moving average price is $6.99. The company has a debt-to-equity ratio of 1.80, a current ratio of 1.20 and a quick ratio of 1.20.

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

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. Vanguard Group Inc. boosted its holdings in shares of Digital Turbine by 0.3% during the fourth quarter. Vanguard Group Inc. now owns 9,101,779 shares of the software maker’s stock worth $45,509,000 after purchasing an additional 29,540 shares during the period. Granahan Investment Management LLC lifted its position in Digital Turbine by 12.0% during the first quarter. Granahan Investment Management LLC now owns 7,112,351 shares of the software maker’s stock valued at $20,484,000 after purchasing an additional 762,888 shares during the period. AIGH Capital Management LLC purchased a new stake in shares of Digital Turbine in the 1st quarter worth $14,100,000. Bank of America Corp DE lifted 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 valued at $10,423,000 after buying an additional 535,169 shares in the last quarter. Finally, Geode Capital Management LLC increased its holdings in 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 acquiring an additional 110,871 shares during the last quarter. Institutional investors and hedge funds 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.