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

BidaskClub upgraded shares of Digital Turbine (NASDAQ:APPS) from a buy rating to a strong-buy rating in a report published on Tuesday, BidAskClub reports.

APPS has been the subject of a number of other reports. Canaccord Genuity assumed coverage on shares of Digital Turbine in a report on Thursday, June 27th. They set a buy rating and a $6.00 price target for the company. Craig Hallum set a $6.00 price objective on shares of Digital Turbine and gave the stock a buy rating in a report on Tuesday, June 4th. National Securities restated a buy rating and issued a $4.50 price objective on shares of Digital Turbine in a report on Tuesday, June 4th. LADENBURG THALM/SH SH upped their price objective on shares of Digital Turbine from $4.50 to $5.10 and gave the stock a buy rating in a report on Tuesday, June 4th. Finally, B. Riley upped their price objective on shares of Digital Turbine from $6.00 to $6.00 and gave the stock a buy rating in a report on Wednesday, June 19th. Six equities research analysts have rated the stock with a buy rating and two have issued a strong buy rating to the stock. The stock has a consensus rating of Buy and an average target price of $5.56.

NASDAQ:APPS opened at $5.95 on Tuesday. The company has a fifty day moving average of $5.43 and a 200 day moving average of $4.06. Digital Turbine has a 52 week low of $1.12 and a 52 week high of $6.98. The firm has a market capitalization of $571.93 million, a P/E ratio of 76.56 and a beta of 1.83.

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

In other Digital Turbine news, Director Paul M. Schaeffer sold 150,000 shares of the company’s stock in a transaction on Monday, June 10th. The shares were sold at an average price of $4.47, for a total value of $670,500.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Paul M. Schaeffer sold 31,847 shares of the company’s stock in a transaction on Thursday, June 6th. The stock was sold at an average price of $4.54, for a total transaction of $144,585.38. The disclosure for this sale can be found here. 5.80% of the stock is currently owned by corporate insiders.

A number of hedge funds and other institutional investors have recently modified their holdings of APPS. Jane Street Group LLC boosted its position in shares of Digital Turbine by 495.4% in the second quarter. Jane Street Group LLC now owns 274,799 shares of the software maker’s stock worth $1,374,000 after purchasing an additional 228,647 shares during the period. Cubist Systematic Strategies LLC bought a new position in shares of Digital Turbine in the second quarter worth approximately $292,000. Invesco Ltd. bought a new position in shares of Digital Turbine in the second quarter worth approximately $2,847,000. Vanguard Group Inc. boosted its position in shares of Digital Turbine by 35.9% in the second quarter. Vanguard Group Inc. now owns 3,560,468 shares of the software maker’s stock worth $17,802,000 after purchasing an additional 940,198 shares during the period. Finally, Ellington Management Group LLC bought a new position in shares of Digital Turbine in the second quarter worth approximately $214,000. Institutional investors and hedge funds own 27.19% 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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