Digital Turbine (NASDAQ:APPS) Trading Up 9.1% – Here’s What Happened

Digital Turbine, Inc. (NASDAQ:APPS)’s stock price was up 9.1% during trading on Tuesday . The stock traded as high as $5.43 and last traded at $5.4450. Approximately 1,654,070 shares changed hands during mid-day trading, a decline of 25% from the average daily volume of 2,199,977 shares. The stock had previously closed at $4.99.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on the company. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Digital Turbine in a report on Monday, December 29th. Zacks Research lowered Digital Turbine from a “strong-buy” rating to a “hold” rating in a research report on Monday, January 5th. Craig Hallum restated a “buy” rating and set a $10.00 target price on shares of Digital Turbine in a research note on Wednesday, November 5th. Finally, Wall Street Zen downgraded Digital Turbine from a “buy” rating to a “hold” rating in a report on Saturday. One research analyst has rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, Digital Turbine currently has a consensus rating of “Hold” and an average price target of $7.75.

Digital Turbine Stock Up 10.2%

The firm has a market capitalization of $616.83 million, a price-to-earnings ratio of -7.53, a PEG ratio of 1.47 and a beta of 2.24. The business’s fifty day moving average price is $4.99 and its 200 day moving average price is $5.27. The company has a current ratio of 1.10, a quick ratio of 1.10 and a debt-to-equity ratio of 2.66.

Digital Turbine (NASDAQ:APPS) last issued its quarterly earnings data on Tuesday, November 4th. The software maker reported $0.15 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.06 by $0.09. The company had revenue of $140.38 million for the quarter, compared to the consensus estimate of $142.00 million. Digital Turbine had a negative net margin of 14.59% and a positive return on equity of 12.12%. On average, equities analysts expect that Digital Turbine, Inc. will post -0.03 EPS for the current year.

Hedge Funds Weigh In On Digital Turbine

Several institutional investors have recently added to or reduced their stakes in the stock. State of Alaska Department of Revenue acquired a new position in shares of Digital Turbine in the third quarter valued at approximately $31,000. Strs Ohio acquired a new stake in shares of Digital Turbine in the 1st quarter worth $41,000. Smartleaf Asset Management LLC purchased a new stake in shares of Digital Turbine in the second quarter valued at about $57,000. Legal & General Group Plc boosted its holdings 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 valued at $63,000 after acquiring an additional 2,550 shares in the last quarter. Finally, Thompson Davis & CO. Inc. acquired a new position in shares of Digital Turbine during the fourth quarter worth about $67,000. Institutional investors and hedge funds own 63.66% of the company’s stock.

Digital Turbine Company Profile

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.