Digital Turbine (NASDAQ:APPS) Upgraded to “Strong-Buy” at BidaskClub

Digital Turbine (NASDAQ:APPS) was upgraded by stock analysts at BidaskClub from a “buy” rating to a “strong-buy” rating in a research report issued to clients and investors on Thursday, BidAskClub reports.

Other research analysts have also issued reports about the stock. ValuEngine lowered shares of Digital Turbine from a “buy” rating to a “hold” rating in a research note on Wednesday, October 2nd. B. Riley set a $7.00 target price on shares of Digital Turbine and gave the stock a “buy” rating in a research note on Monday, September 9th. Canaccord Genuity assumed coverage on shares of Digital Turbine in a research note on Thursday, June 27th. They issued a “buy” rating and a $6.00 target price on the stock. Finally, 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 note on Tuesday, July 2nd. One analyst has rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company’s stock. The company has an average rating of “Buy” and an average price target of $5.73.

Digital Turbine stock traded up $0.25 during midday trading on Thursday, reaching $7.23. The company had a trading volume of 1,564,246 shares, compared to its average volume of 1,440,668. The company has a market capitalization of $563.63 million, a P/E ratio of 144.60 and a beta of 1.39. Digital Turbine has a 12-month low of $1.23 and a 12-month high of $7.84. The firm’s fifty day simple moving average is $6.67 and its 200-day simple moving average is $5.31.

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

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. BlackRock Inc. raised its position in shares of Digital Turbine by 298.8% during the 2nd 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 period. Vanguard Group Inc. raised its position in shares of Digital Turbine by 35.9% during the 2nd quarter. Vanguard Group Inc. now owns 3,560,468 shares of the software maker’s stock valued at $17,802,000 after buying an additional 940,198 shares during the period. Allianz Asset Management GmbH purchased a new stake in shares of Digital Turbine during the 2nd quarter valued at approximately $5,204,000. Acadian Asset Management LLC raised its position in shares of Digital Turbine by 50.3% during the 2nd quarter. Acadian Asset Management LLC now owns 929,641 shares of the software maker’s stock valued at $4,648,000 after buying an additional 310,980 shares during the period. Finally, Invesco Ltd. purchased a new stake in shares of Digital Turbine during the 2nd quarter valued at approximately $2,847,000. 38.64% of the stock is currently owned by institutional investors and hedge funds.

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.

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Analyst Recommendations for Digital Turbine (NASDAQ:APPS)

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