Shares of Digital Turbine Inc (NASDAQ:APPS) have received a consensus recommendation of “Buy” from the nine research firms that are presently covering the firm, MarketBeat reports. Two investment analysts have rated the stock with a sell recommendation, six have given a buy recommendation and one has given a strong buy recommendation to the company. The average twelve-month target price among brokerages that have updated their coverage on the stock in the last year is $7.93.
Several analysts have recently weighed in on the stock. Zacks Investment Research upgraded shares of Digital Turbine from a “hold” rating to a “strong-buy” rating and set a $7.75 price objective on the stock in a research report on Wednesday, November 6th. BidaskClub cut shares of Digital Turbine from a “hold” rating to a “sell” rating in a research report on Friday, February 7th. Canaccord Genuity reiterated a “buy” rating on shares of Digital Turbine in a research report on Tuesday. Roth Capital reiterated a “buy” rating and issued a $9.00 target price on shares of Digital Turbine in a research report on Monday, November 25th. Finally, B. Riley reiterated a “buy” rating and issued a $8.75 target price on shares of Digital Turbine in a research report on Monday.
Shares of Digital Turbine stock traded down $0.25 on Friday, hitting $6.77. 2,992,120 shares of the company traded hands, compared to its average volume of 2,257,813. The firm’s 50-day simple moving average is $7.02 and its 200 day simple moving average is $7.08. The company has a market cap of $554.36 million, a P/E ratio of -75.21 and a beta of 1.57. Digital Turbine has a 12-month low of $2.65 and a 12-month high of $9.13.
Digital Turbine (NASDAQ:APPS) last posted its quarterly earnings data on Monday, February 10th. The software maker reported $0.04 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.05 by ($0.01). The company had revenue of $36.02 million for the quarter, compared to analysts’ expectations of $37.58 million. Digital Turbine had a negative net margin of 5.35% and a positive return on equity of 30.89%. Research analysts forecast that Digital Turbine will post 0.17 EPS for the current year.
In other Digital Turbine news, CEO William Gordon Stone III bought 12,500 shares of the firm’s stock in a transaction that occurred on Thursday, February 13th. The shares were bought at an average price of $7.02 per share, for a total transaction of $87,750.00. 5.80% of the stock is owned by company insiders.
Institutional investors have recently made changes to their positions in the business. IFP Advisors Inc bought a new stake in Digital Turbine in the 4th quarter worth $30,000. NEXT Financial Group Inc bought a new stake in Digital Turbine in the 4th quarter worth $31,000. Great West Life Assurance Co. Can bought a new stake in shares of Digital Turbine during the 4th quarter valued at about $36,000. Advisor Group Inc. boosted its stake in shares of Digital Turbine by 275.6% during the 4th quarter. Advisor Group Inc. now owns 6,253 shares of the software maker’s stock valued at $45,000 after purchasing an additional 4,588 shares in the last quarter. Finally, Marshall Wace LLP bought a new stake in shares of Digital Turbine during the 4th quarter valued at about $56,000. 39.70% of the stock is currently owned by institutional investors and hedge funds.
About Digital Turbine
Digital Turbine, Inc, through its subsidiaries, provides media and mobile communication solutions for mobile operators, application developers, device original equipment manufacturers, and other third parties worldwide. The company offers Ignite, a mobile application management software to control, manage, and monetize the applications that are installed on mobile devices and professional services directly related to the ignite platform.
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