National Securities Analysts Give Digital Turbine (APPS) a $4.00 Price Target

National Securities set a $4.00 price target on Digital Turbine (NASDAQ:APPS) in a research note issued to investors on Tuesday. The firm currently has a buy rating on the software maker’s stock.

A number of other brokerages also recently weighed in on APPS. Zacks Investment Research downgraded Digital Turbine from a hold rating to a sell rating in a report on Tuesday, July 10th. ValuEngine downgraded Digital Turbine from a buy rating to a hold rating in a report on Thursday, August 2nd. One analyst has rated the stock with a hold rating, three have given a buy rating and one has given a strong buy rating to the company’s stock. The company currently has an average rating of Buy and an average price target of $2.85.

Shares of APPS traded up $0.08 during trading hours on Tuesday, reaching $1.70. The company’s stock had a trading volume of 1,334,931 shares, compared to its average volume of 329,369. The company has a market capitalization of $128.13 million, a price-to-earnings ratio of -18.89 and a beta of 1.05. Digital Turbine has a 1-year low of $1.12 and a 1-year high of $2.59. The company has a debt-to-equity ratio of 0.16, a current ratio of 0.82 and a quick ratio of 0.80.

Digital Turbine (NASDAQ:APPS) last issued its earnings results on Thursday, August 9th. The software maker reported ($0.01) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.02) by $0.01. The company had revenue of $22.11 million for the quarter, compared to the consensus estimate of $22.98 million. Digital Turbine had a negative return on equity of 15.28% and a negative net margin of 38.14%. Equities research analysts expect that Digital Turbine will post -0.02 earnings per share for the current fiscal year.

In other Digital Turbine news, Director Robert M. Deutschman bought 25,000 shares of the company’s stock in a transaction dated Tuesday, September 11th. The shares were bought at an average price of $1.27 per share, for a total transaction of $31,750.00. Following the acquisition, the director now directly owns 292,550 shares of the company’s stock, valued at $371,538.50. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Roy H. Chestnutt acquired 20,000 shares of the company’s stock in a transaction that occurred on Thursday, September 6th. The stock was purchased at an average price of $1.32 per share, for a total transaction of $26,400.00. Following the acquisition, the director now directly owns 66,763 shares of the company’s stock, valued at approximately $88,127.16. The disclosure for this purchase can be found here. 6.20% of the stock is owned by corporate insiders.

A number of large investors have recently added to or reduced their stakes in the stock. National Asset Management Inc. increased its holdings in Digital Turbine by 5.4% in the third quarter. National Asset Management Inc. now owns 629,475 shares of the software maker’s stock worth $781,000 after buying an additional 32,200 shares during the last quarter. JPMorgan Chase & Co. acquired a new position in Digital Turbine in the third quarter worth approximately $217,000. Trellus Management Company LLC increased its holdings in Digital Turbine by 8.3% in the third quarter. Trellus Management Company LLC now owns 936,497 shares of the software maker’s stock worth $1,161,000 after buying an additional 71,812 shares during the last quarter. Acadian Asset Management LLC increased its holdings in Digital Turbine by 23.9% in the third quarter. Acadian Asset Management LLC now owns 302,265 shares of the software maker’s stock worth $374,000 after buying an additional 58,349 shares during the last quarter. Finally, Russell Investments Group Ltd. acquired a new position in Digital Turbine in the third quarter worth approximately $178,000. Hedge funds and other institutional investors own 26.45% 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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