Digital Turbine Inc (NASDAQ:APPS) Given Average Rating of “Buy” by Brokerages

Shares of Digital Turbine Inc (NASDAQ:APPS) have received a consensus rating of “Buy” from the nine analysts that are presently covering the company, MarketBeat reports. Seven equities research analysts have rated the stock with a buy recommendation and one has given a strong buy recommendation to the company. The average 1 year target price among brokerages that have issued a report on the stock in the last year is $5.73.

A number of research firms have commented on APPS. Craig Hallum set a $6.00 target price on shares of Digital Turbine and gave the company a “buy” rating in a research report on Tuesday, June 4th. Zacks Investment Research raised shares of Digital Turbine from a “hold” rating to a “buy” rating and set a $5.75 target price on the stock in a research report on Tuesday, July 2nd. LADENBURG THALM/SH SH upped their target price on shares of Digital Turbine from $4.50 to $5.10 and gave the company a “buy” rating in a research report on Tuesday, June 4th. Canaccord Genuity began coverage on shares of Digital Turbine in a research report on Thursday, June 27th. They issued a “buy” rating and a $6.00 target price on the stock. Finally, ValuEngine raised shares of Digital Turbine from a “buy” rating to a “strong-buy” rating in a research report on Thursday, June 27th.

Shares of APPS stock traded up $0.07 on Thursday, hitting $6.77. 1,241,661 shares of the stock traded hands, compared to its average volume of 1,599,334. The firm’s 50-day moving average price is $6.71 and its two-hundred day moving average price is $4.76. The stock has a market capitalization of $556.17 million, a PE ratio of 135.40 and a beta of 1.47. Digital Turbine has a twelve month low of $1.16 and a twelve month high of $7.84.

Digital Turbine (NASDAQ:APPS) last announced its quarterly earnings results on Monday, August 5th. The software maker reported $0.04 earnings per share for the quarter, beating the consensus estimate of $0.03 by $0.01. Digital Turbine had a negative net margin of 7.42% and a positive return on equity of 23.70%. The firm had revenue of $30.55 million for the quarter, compared to analysts’ expectations of $28.39 million. As a group, equities research analysts expect that Digital Turbine will post 0.17 EPS for the current fiscal year.

A number of hedge funds and other institutional investors have recently bought and sold shares of APPS. BlackRock Inc. lifted its position in Digital Turbine by 298.8% in the second quarter. BlackRock Inc. now owns 5,105,929 shares of the software maker’s stock valued at $25,529,000 after buying an additional 3,825,466 shares during the last quarter. Allianz Asset Management GmbH acquired a new stake in shares of Digital Turbine during the second quarter worth about $5,204,000. Vanguard Group Inc. lifted its position in shares of Digital Turbine by 35.9% during the second quarter. Vanguard Group Inc. now owns 3,560,468 shares of the software maker’s stock worth $17,802,000 after purchasing an additional 940,198 shares in the last quarter. Invesco Ltd. acquired a new stake in shares of Digital Turbine during the second quarter worth about $2,847,000. Finally, Calamos Advisors LLC acquired a new stake in shares of Digital Turbine during the second quarter worth about $2,185,000. 39.29% of the stock is currently owned by institutional investors.

Digital Turbine Company Profile

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.

Further Reading: Initial Coin Offering (ICO)

Analyst Recommendations for Digital Turbine (NASDAQ:APPS)

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