Digital Turbine (NASDAQ:APPS) Hits New 1-Year High at $7.26

Digital Turbine Inc (NASDAQ:APPS)’s stock price reached a new 52-week high during trading on Wednesday . The company traded as high as $7.26 and last traded at $7.20, with a volume of 626517 shares. The stock had previously closed at $6.84.

A number of research analysts have commented on the company. Zacks Investment Research raised Digital Turbine from a “hold” rating to a “buy” rating and set a $5.75 target price on the stock in a report on Tuesday, July 2nd. B. Riley increased their target price on Digital Turbine from $6.00 to $6.00 and gave the stock a “buy” rating in a report on Wednesday, June 19th. ValuEngine raised Digital Turbine from a “buy” rating to a “strong-buy” rating in a report on Thursday, June 27th. BidaskClub raised Digital Turbine from a “buy” rating to a “strong-buy” rating in a report on Tuesday, August 13th. Finally, National Securities reissued a “buy” rating and issued a $4.50 price target on shares of Digital Turbine in a report on Tuesday, June 4th. Six equities research analysts have rated the stock with a buy rating and two have issued a strong buy rating to the company. Digital Turbine presently has an average rating of “Buy” and an average price target of $5.56.

The firm has a 50 day simple moving average of $5.58 and a two-hundred day simple moving average of $4.13. The stock has a market cap of $541.22 million, a P/E ratio of 147.80 and a beta of 1.83.

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

In other news, Director Paul M. Schaeffer sold 31,847 shares of Digital Turbine 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 sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Paul M. Schaeffer sold 150,000 shares of Digital Turbine 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 disclosure for this sale can be found here. 5.80% of the stock is currently owned by company insiders.

Several hedge funds have recently modified their holdings of APPS. Bank of Montreal Can acquired a new position in shares of Digital Turbine during the 2nd quarter valued at $32,000. Steward Partners Investment Advisory LLC acquired a new stake in shares of Digital Turbine in the second quarter worth $33,000. Cornerstone Wealth Group LLC acquired a new stake in shares of Digital Turbine in the first quarter worth $44,000. Delta Investment Management LLC acquired a new stake in shares of Digital Turbine in the second quarter worth $75,000. Finally, Millennium Management LLC acquired a new stake in shares of Digital Turbine in the fourth quarter worth $83,000. Institutional investors own 35.10% of the company’s stock.

About Digital Turbine (NASDAQ:APPS)

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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