Digital Turbine Inc (NASDAQ:APPS) has been given a consensus recommendation of “Buy” by the nine ratings firms that are presently covering the company, Marketbeat Ratings reports. Two research analysts have rated the stock with a hold recommendation, six have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average 1-year target price among analysts that have issued ratings on the stock in the last year is $7.41.
A number of brokerages have issued reports on APPS. National Securities began coverage on Digital Turbine in a research note on Tuesday, December 17th. They issued a “buy” rating and a $11.00 price target on the stock. Roth Capital reissued a “buy” rating and issued a $9.00 price target on shares of Digital Turbine in a research note on Monday, November 25th. Zacks Investment Research raised Digital Turbine from a “hold” rating to a “strong-buy” rating and set a $7.75 price target on the stock in a research note on Wednesday, November 6th. BidaskClub lowered Digital Turbine from a “buy” rating to a “hold” rating in a research note on Saturday, December 21st. Finally, B. Riley set a $7.00 price target on Digital Turbine and gave the stock a “buy” rating in a research note on Monday, September 9th.
NASDAQ:APPS traded down $0.68 during mid-day trading on Friday, reaching $7.40. The company’s stock had a trading volume of 4,055,350 shares, compared to its average volume of 2,182,125. The company’s fifty day simple moving average is $8.01 and its two-hundred day simple moving average is $6.59. Digital Turbine has a twelve month low of $1.70 and a twelve month high of $9.13. The stock has a market cap of $693.38 million, a P/E ratio of 148.00 and a beta of 1.59.
Digital Turbine (NASDAQ:APPS) last issued its quarterly earnings results on Monday, November 4th. The software maker reported $0.04 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.03 by $0.01. Digital Turbine had a positive return on equity of 28.01% and a negative net margin of 9.47%. The firm had revenue of $32.80 million for the quarter, compared to analyst estimates of $31.55 million. On average, equities analysts predict that Digital Turbine will post 0.17 earnings per share for the current fiscal year.
In other news, Director Michelle M. Sterling acquired 13,640 shares of Digital Turbine stock in a transaction dated Tuesday, November 12th. The shares were acquired at an average cost of $7.45 per share, with a total value of $101,618.00. Following the purchase, the director now directly owns 12,199 shares of the company’s stock, valued at approximately $90,882.55. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO William Gordon Stone III sold 35,000 shares of Digital Turbine stock in a transaction dated Tuesday, November 12th. The shares were sold at an average price of $8.20, for a total value of $287,000.00. Following the completion of the transaction, the chief executive officer now directly owns 974,480 shares in the company, valued at $7,990,736. The disclosure for this sale can be found here. Insiders own 5.80% of the company’s stock.
Several large investors have recently made changes to their positions in the stock. Metropolitan Life Insurance Co NY purchased a new stake in shares of Digital Turbine during the 3rd quarter valued at about $118,000. Millennium Management LLC raised its holdings in shares of Digital Turbine by 38.9% during the 3rd quarter. Millennium Management LLC now owns 360,849 shares of the software maker’s stock valued at $2,325,000 after buying an additional 101,018 shares during the period. Man Group plc purchased a new stake in shares of Digital Turbine during the 3rd quarter valued at about $543,000. Barclays PLC raised its holdings in shares of Digital Turbine by 203.8% during the 3rd quarter. Barclays PLC now owns 151,515 shares of the software maker’s stock valued at $976,000 after buying an additional 101,635 shares during the period. Finally, California State Teachers Retirement System raised its holdings in shares of Digital Turbine by 2.6% during the 3rd quarter. California State Teachers Retirement System now owns 122,274 shares of the software maker’s stock valued at $788,000 after buying an additional 3,138 shares during the period. Institutional investors and hedge funds own 39.38% of the company’s stock.
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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