Digital Turbine (NASDAQ:APPS) Trading Up 9.2% – Here’s Why

Digital Turbine, Inc. (NASDAQ:APPS) was up 9.2% during trading on Monday . The stock traded as high as $5.16 and last traded at $5.35. Approximately 6,360,924 shares were traded during mid-day trading, a decline of 26% from the average daily volume of 8,612,731 shares. The stock had previously closed at $4.90.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on APPS shares. Craig Hallum dropped their price objective on shares of Digital Turbine from $5.00 to $4.00 and set a “buy” rating on the stock in a research note on Thursday, November 7th. Macquarie lowered their target price on Digital Turbine from $3.00 to $2.00 and set a “neutral” rating for the company in a report on Thursday, November 7th. Finally, Bank of America downgraded Digital Turbine from a “neutral” rating to an “underperform” rating and cut their price target for the stock from $3.50 to $1.00 in a report on Friday, November 15th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and one has issued a buy rating to the company’s stock. According to data from MarketBeat.com, Digital Turbine currently has an average rating of “Hold” and a consensus price target of $2.38.

Digital Turbine Stock Performance

The company has a current ratio of 1.06, a quick ratio of 1.09 and a debt-to-equity ratio of 2.50. The stock has a market capitalization of $644.76 million, a P/E ratio of -2.03 and a beta of 2.38. The company’s 50-day moving average is $2.17 and its two-hundred day moving average is $2.53.

Digital Turbine (NASDAQ:APPS) last released its quarterly earnings results on Wednesday, February 5th. The software maker reported $0.05 earnings per share for the quarter, missing analysts’ consensus estimates of $0.13 by ($0.08). Digital Turbine had a negative net margin of 64.06% and a positive return on equity of 3.41%. As a group, sell-side analysts anticipate that Digital Turbine, Inc. will post -0.13 EPS for the current fiscal year.

Hedge Funds Weigh In On Digital Turbine

Institutional investors and hedge funds have recently bought and sold shares of the stock. Geode Capital Management LLC grew its holdings in Digital Turbine by 8.4% during the third quarter. Geode Capital Management LLC now owns 2,334,648 shares of the software maker’s stock worth $7,169,000 after acquiring an additional 181,032 shares during the period. Rice Hall James & Associates LLC grew its stake in shares of Digital Turbine by 4.1% in the 3rd quarter. Rice Hall James & Associates LLC now owns 1,970,928 shares of the software maker’s stock worth $6,051,000 after purchasing an additional 77,185 shares during the last quarter. Charles Schwab Investment Management Inc. raised its holdings in shares of Digital Turbine by 14.2% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 886,508 shares of the software maker’s stock worth $1,498,000 after purchasing an additional 110,427 shares in the last quarter. JPMorgan Chase & Co. raised its holdings in shares of Digital Turbine by 39.7% in the 4th quarter. JPMorgan Chase & Co. now owns 541,825 shares of the software maker’s stock worth $916,000 after purchasing an additional 153,991 shares in the last quarter. Finally, Baader Bank Aktiengesellschaft lifted its stake in Digital Turbine by 22.1% during the fourth quarter. Baader Bank Aktiengesellschaft now owns 532,325 shares of the software maker’s stock valued at $899,000 after purchasing an additional 96,393 shares during the last quarter. Institutional investors own 63.66% of the company’s stock.

About Digital Turbine

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.