Zacks Investment Research upgraded shares of Digital Turbine (NASDAQ:APPS) from a hold rating to a strong-buy rating in a research note published on Friday. The firm currently has $1.75 price target on the software maker’s stock.
According to Zacks, “Digital Turbine Inc. offers products and solutions for mobile operators, device OEMs and third parties. The company’s product include DT Ignite(TM), a mobile device management solution with targeted app distribution capabilities, DT IQ(TM), a customized user experience and app discovery tool, DT Marketplace(TM), an application and content store and DT Pay(TM), a content management and mobile payment solution. It operates primarily in Berlin, Singapore and Sydney. Digital Turbine, Inc., formerly known as Mandalay Digital Group, Inc., is headquartered in Austin, Texas. “
APPS has been the subject of a number of other research reports. TheStreet upgraded Digital Turbine from a d rating to a c rating in a research report on Tuesday. National Securities set a $4.00 price target on Digital Turbine and gave the stock a buy rating in a research report on Tuesday. Finally, ValuEngine cut Digital Turbine from a buy rating to a hold rating in a research report on Thursday, August 2nd. One equities research analyst has rated the stock with a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the stock. Digital Turbine currently has a consensus rating of Buy and an average price target of $2.85.
Digital Turbine stock traded up $0.08 during mid-day trading on Friday, reaching $1.70. 1,334,931 shares of the stock traded hands, compared to its average volume of 329,369. The stock has a market cap of $128.13 million, a PE ratio of -18.89 and a beta of 1.05. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.80 and a current ratio of 0.82. Digital Turbine has a 12-month low of $1.12 and a 12-month high of $2.59.
Digital Turbine (NASDAQ:APPS) last posted its quarterly earnings data on Thursday, August 9th. The software maker reported ($0.01) EPS for the quarter, beating analysts’ consensus estimates of ($0.02) by $0.01. The company had revenue of $22.11 million during the quarter, compared to analysts’ expectations of $22.98 million. Digital Turbine had a negative return on equity of 15.28% and a negative net margin of 38.14%. As a group, sell-side analysts predict that Digital Turbine will post -0.02 EPS for the current fiscal year.
In related news, Director Robert M. Deutschman purchased 25,000 shares of Digital Turbine stock in a transaction on Tuesday, September 11th. The stock was acquired at an average price of $1.27 per share, for a total transaction of $31,750.00. Following the completion of the transaction, the director now directly owns 292,550 shares in the company, valued at approximately $371,538.50. The purchase was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Roy H. Chestnutt purchased 20,000 shares of Digital Turbine stock in a transaction on Thursday, September 6th. The stock was bought at an average price of $1.32 per share, with a total value of $26,400.00. Following the transaction, the director now owns 66,763 shares of the company’s stock, valued at $88,127.16. The disclosure for this purchase can be found here. Corporate insiders own 6.20% of the company’s stock.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in APPS. Northern Trust Corp boosted its stake in shares of Digital Turbine by 35.9% in the first quarter. Northern Trust Corp now owns 125,271 shares of the software maker’s stock worth $251,000 after acquiring an additional 33,078 shares during the period. JPMorgan Chase & Co. boosted its stake in shares of Digital Turbine by 297.2% in the first quarter. JPMorgan Chase & Co. now owns 482,504 shares of the software maker’s stock worth $970,000 after acquiring an additional 361,016 shares during the period. Millennium Management LLC boosted its stake in shares of Digital Turbine by 397.9% in the first quarter. Millennium Management LLC now owns 1,549,547 shares of the software maker’s stock worth $3,115,000 after acquiring an additional 1,238,351 shares during the period. Acadian Asset Management LLC boosted its stake in shares of Digital Turbine by 98.8% in the second quarter. Acadian Asset Management LLC now owns 243,916 shares of the software maker’s stock worth $368,000 after acquiring an additional 121,211 shares during the period. Finally, Unterberg Capital LLC boosted its stake in shares of Digital Turbine by 16.7% in the second quarter. Unterberg Capital LLC now owns 2,100,000 shares of the software maker’s stock worth $3,171,000 after acquiring an additional 300,000 shares during the period. 26.45% of the stock is owned by hedge funds and other institutional investors.
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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