Digital Turbine (NASDAQ:APPS) Reaches New 12-Month High – Still a Buy?

Digital Turbine, Inc. (NASDAQ:APPS) shares hit a new 52-week high on Wednesday . The company traded as high as $8.10 and last traded at $8.0110, with a volume of 10432673 shares trading hands. The stock had previously closed at $5.92.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on APPS shares. Wall Street Zen cut shares of Digital Turbine from a “buy” rating to a “hold” rating in a research report on Saturday, August 9th. Weiss Ratings restated a “sell (d-)” rating on shares of Digital Turbine in a research note on Wednesday, October 8th. Craig Hallum restated a “buy” rating and issued a $10.00 price objective on shares of Digital Turbine in a research note on Wednesday. Finally, Bank of America upgraded shares of Digital Turbine from an “underperform” rating to a “neutral” rating and lifted their price objective for the company from $4.50 to $5.50 in a research note on Wednesday, August 6th. One analyst has rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $5.83.

Digital Turbine Trading Up 27.2%

The stock has a market cap of $841.59 million, a PE ratio of -9.95, a P/E/G ratio of 4.03 and a beta of 2.55. The company has a quick ratio of 1.09, a current ratio of 1.09 and a debt-to-equity ratio of 2.63. The business’s fifty day moving average is $5.69 and its 200 day moving average is $5.08.

Digital Turbine (NASDAQ:APPS) last announced its quarterly earnings data on Tuesday, August 5th. The software maker reported $0.05 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.10 by ($0.05). Digital Turbine had a negative net margin of 15.93% and a positive return on equity of 2.24%. The firm had revenue of $130.93 million for the quarter, compared to analysts’ expectations of $121.94 million. As a group, analysts predict that Digital Turbine, Inc. will post -0.03 earnings per share for the current year.

Hedge Funds Weigh In On Digital Turbine

Several institutional investors and hedge funds have recently bought and sold shares of APPS. Stoneridge Investment Partners LLC increased its position in shares of Digital Turbine by 138.7% in the third quarter. Stoneridge Investment Partners LLC now owns 27,229 shares of the software maker’s stock worth $174,000 after acquiring an additional 15,821 shares in the last quarter. AIGH Capital Management LLC acquired a new stake in Digital Turbine during the 3rd quarter valued at $9,748,000. Universal Beteiligungs und Servicegesellschaft mbH grew its holdings in Digital Turbine by 19.6% during the 3rd quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 305,499 shares of the software maker’s stock valued at $1,955,000 after purchasing an additional 50,000 shares in the last quarter. State of Alaska Department of Revenue acquired a new stake in Digital Turbine during the 3rd quarter valued at $31,000. Finally, SG Americas Securities LLC grew its holdings in Digital Turbine by 776.1% during the 3rd quarter. SG Americas Securities LLC now owns 182,673 shares of the software maker’s stock valued at $1,169,000 after purchasing an additional 161,823 shares in the last quarter. Institutional investors and hedge funds own 63.66% of the company’s stock.

Digital Turbine Company Profile

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.