Digital Turbine, Inc. (NASDAQ:APPS – Get Free Report) rose 7.7% during trading on Monday . The stock traded as high as $9.43 and last traded at $9.7040. Approximately 793,894 shares changed hands during trading, a decline of 79% from the average daily volume of 3,808,629 shares. The stock had previously closed at $9.01.
Wall Street Analyst Weigh In
APPS has been the topic of a number of recent analyst reports. Zacks Research upgraded shares of Digital Turbine from a “hold” rating to a “strong-buy” rating in a report on Thursday, May 28th. Weiss Ratings restated a “sell (d-)” rating on shares of Digital Turbine in a report on Friday, March 27th. Bank of America upgraded shares of Digital Turbine from a “neutral” rating to a “buy” rating and set a $7.50 price target on the stock in a report on Wednesday, May 27th. Finally, Wall Street Zen upgraded shares of Digital Turbine from a “hold” rating to a “buy” rating in a report on Saturday, May 9th. One equities research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $8.75.
Get Our Latest Analysis on Digital Turbine
Digital Turbine Stock Up 7.0%
Digital Turbine (NASDAQ:APPS – Get Free Report) last posted its quarterly earnings results on Tuesday, May 26th. The software maker reported $0.16 earnings per share for the quarter, beating the consensus estimate 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 for the quarter, compared to analyst estimates of $133.23 million. As a group, sell-side analysts anticipate that Digital Turbine, Inc. will post 0.68 earnings per share for the current year.
Institutional Trading of Digital Turbine
Several large investors have recently added to or reduced their stakes in the business. Creative Planning grew its position in Digital Turbine by 9.4% in the third quarter. Creative Planning now owns 23,286 shares of the software maker’s stock worth $149,000 after acquiring an additional 1,997 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in shares of Digital Turbine by 4.4% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 57,539 shares of the software maker’s stock worth $156,000 after buying an additional 2,449 shares during the last quarter. O Shaughnessy Asset Management LLC lifted its position in shares of Digital Turbine by 23.8% in the fourth quarter. O Shaughnessy Asset Management LLC now owns 13,180 shares of the software maker’s stock worth $66,000 after buying an additional 2,536 shares during the last quarter. Legal & General Group Plc lifted its position in shares of Digital Turbine by 31.6% in the second quarter. Legal & General Group Plc now owns 10,624 shares of the software maker’s stock worth $63,000 after buying an additional 2,550 shares during the last quarter. Finally, Osaic Holdings Inc. lifted its position in shares of Digital Turbine by 22.5% in the second quarter. Osaic Holdings Inc. now owns 18,073 shares of the software maker’s stock worth $107,000 after buying an additional 3,322 shares during the last quarter. 63.66% of the stock is owned by institutional investors.
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.
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