Digital Turbine (NASDAQ:APPS) Stock Price Expected to Rise, Craig Hallum Analyst Says

Digital Turbine (NASDAQ:APPS) had its price objective increased by Craig Hallum from $4.00 to $7.00 in a research note published on Tuesday,Benzinga reports. Craig Hallum currently has a buy rating on the software maker’s stock.

Separately, Wall Street Zen cut shares of Digital Turbine from a “hold” rating to a “sell” rating in a report on Monday, March 24th.

Digital Turbine Stock Down 10.6%

NASDAQ:APPS opened at $6.74 on Tuesday. Digital Turbine has a 1 year low of $1.18 and a 1 year high of $7.77. The stock has a 50-day moving average price of $4.19 and a two-hundred day moving average price of $3.28. The stock has a market cap of $721.05 million, a price-to-earnings ratio of -7.57 and a beta of 2.58. The company has a current ratio of 1.09, a quick ratio of 1.06 and a debt-to-equity ratio of 2.66.

Digital Turbine (NASDAQ:APPS) last released its quarterly earnings data on Monday, June 16th. The software maker reported $0.10 earnings per share for the quarter, beating the consensus estimate of $0.05 by $0.05. Digital Turbine had a positive return on equity of 1.89% and a negative net margin of 18.61%. The business had revenue of $119.15 million for the quarter, compared to analysts’ expectations of $116.64 million. During the same quarter in the previous year, the business posted $0.12 EPS. As a group, equities analysts expect that Digital Turbine will post -0.03 earnings per share for the current year.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the company. SBI Securities Co. Ltd. bought a new stake in Digital Turbine in the 4th quarter valued at approximately $28,000. Plancorp LLC acquired a new stake in shares of Digital Turbine in the fourth quarter valued at approximately $35,000. Strs Ohio acquired a new stake in shares of Digital Turbine in the first quarter valued at approximately $41,000. Caitong International Asset Management Co. Ltd bought a new stake in shares of Digital Turbine in the first quarter worth $45,000. Finally, Cetera Investment Advisers boosted its holdings in Digital Turbine by 94.3% during the fourth quarter. Cetera Investment Advisers now owns 27,436 shares of the software maker’s stock worth $46,000 after purchasing an additional 13,317 shares during the last quarter. 63.66% of the stock is currently owned by institutional investors.

About Digital Turbine

Digital Turbine, Inc, through its subsidiaries, operates a mobile growth platform for advertisers, publishers, carriers, and device original equipment manufacturers (OEMs). The company operates through two segments, On Device Solutions and App Growth Platform. Its application media platform delivers mobile applications to various publishers, carriers, OEMs, and devices; and content media platform offers news, weather, sports, and other content, as well as programmatic advertising and media content delivery services, and sponsored and editorial content media.