Digital Turbine Inc (NASDAQ:APPS) Receives Average Rating of “Buy” from Analysts

Digital Turbine Inc (NASDAQ:APPS) has earned an average recommendation of “Buy” from the nine analysts that are presently covering the company, MarketBeat Ratings reports. One analyst has rated the stock with a hold recommendation, six have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average twelve-month price target among brokers that have issued ratings on the stock in the last year is $5.52.

APPS has been the subject of a number of analyst reports. Zacks Investment Research upgraded shares of Digital Turbine from a “hold” rating to a “buy” rating and set a $4.00 price objective for the company in a report on Tuesday, April 16th. Canaccord Genuity initiated coverage on shares of Digital Turbine in a report on Thursday. They set a “buy” rating and a $6.00 price objective for the company. B. Riley boosted their price objective on shares of Digital Turbine from $6.00 to $6.00 and gave the company a “buy” rating in a report on Wednesday, June 19th. BidaskClub cut shares of Digital Turbine from a “strong-buy” rating to a “buy” rating in a report on Tuesday, June 11th. Finally, Craig Hallum set a $6.00 price objective on shares of Digital Turbine and gave the company a “buy” rating in a report on Tuesday, June 4th.

Shares of NASDAQ APPS opened at $5.00 on Friday. The firm has a market capitalization of $413.32 million, a PE ratio of 100.00 and a beta of 1.68. The firm’s 50 day moving average price is $4.26. Digital Turbine has a 52-week low of $1.12 and a 52-week high of $5.16.

Digital Turbine (NASDAQ:APPS) last issued its quarterly earnings data on Monday, June 3rd. The software maker reported $0.02 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.01 by $0.01. The firm had revenue of $27.19 million during the quarter, compared to analysts’ expectations of $26.55 million. Digital Turbine had a negative net margin of 5.80% and a positive return on equity of 10.53%. As a group, equities research analysts predict that Digital Turbine will post 0.09 earnings per share for the current fiscal year.

In other news, Director Paul M. Schaeffer sold 31,847 shares of the company’s stock in a transaction that occurred on Thursday, June 6th. The shares were sold at an average price of $4.54, for a total value of $144,585.38. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Paul M. Schaeffer sold 150,000 shares of the company’s stock in a transaction that occurred on Monday, June 10th. The shares were sold at an average price of $4.47, for a total transaction of $670,500.00. The disclosure for this sale can be found here. 6.20% of the stock is owned by corporate insiders.

Several institutional investors have recently added to or reduced their stakes in APPS. DORCHESTER WEALTH MANAGEMENT Co bought a new stake in shares of Digital Turbine in the first quarter worth $35,000. Cornerstone Wealth Group LLC bought a new stake in shares of Digital Turbine in the first quarter worth $44,000. Millennium Management LLC bought a new stake in shares of Digital Turbine in the fourth quarter worth $83,000. Bank of New York Mellon Corp lifted its position in shares of Digital Turbine by 66.1% in the fourth quarter. Bank of New York Mellon Corp now owns 45,474 shares of the software maker’s stock worth $83,000 after purchasing an additional 18,102 shares in the last quarter. Finally, Sterling Investment Advisors Ltd. bought a new stake in shares of Digital Turbine in the first quarter worth $88,000. Institutional investors own 27.95% 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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Analyst Recommendations for Digital Turbine (NASDAQ:APPS)

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