Digital Turbine Inc (NASDAQ:APPS)’s stock price gapped down before the market opened on Thursday . The stock had previously closed at $5.97, but opened at $6.36. Digital Turbine shares last traded at $6.08, with a volume of 156,820 shares trading hands.
APPS has been the topic of several recent analyst reports. BidaskClub upgraded Digital Turbine from a “buy” rating to a “strong-buy” rating in a research note on Tuesday. B. Riley raised their price objective on Digital Turbine from $6.00 to $6.00 and gave the company a “buy” rating in a research note on Wednesday, June 19th. Canaccord Genuity initiated coverage on Digital Turbine in a research note on Thursday, June 27th. They set a “buy” rating and a $6.00 price objective on the stock. Zacks Investment Research upgraded Digital Turbine from a “hold” rating to a “buy” rating and set a $5.75 price objective on the stock in a research note on Tuesday, July 2nd. Finally, Craig Hallum set a $6.00 price objective on Digital Turbine and gave the company a “buy” rating in a research note 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’s stock. Digital Turbine presently has an average rating of “Buy” and an average target price of $5.56.
The stock has a market capitalization of $543.72 million, a PE ratio of 119.00 and a beta of 1.83. The firm has a 50-day moving average price of $5.43 and a 200-day moving average price of $4.06.
Digital Turbine (NASDAQ:APPS) last announced its earnings results on Monday, August 5th. The software maker reported $0.04 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.03 by $0.01. Digital Turbine had a positive return on equity of 23.70% and a negative net margin of 7.42%. The firm had revenue of $30.55 million during the quarter, compared to analyst estimates of $28.39 million. On average, analysts anticipate that Digital Turbine Inc will post 0.17 earnings per share for the current year.
In other news, Director Paul M. Schaeffer sold 31,847 shares of the firm’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 sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Paul M. Schaeffer sold 150,000 shares of the firm’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 disclosure for this sale can be found here. Company insiders own 5.80% of the company’s stock.
Several institutional investors have recently made changes to their positions in the company. GSA Capital Partners LLP increased its holdings in Digital Turbine by 10.1% in the 2nd quarter. GSA Capital Partners LLP now owns 53,300 shares of the software maker’s stock worth $267,000 after acquiring an additional 4,900 shares during the last quarter. Advisory Services Network LLC increased its holdings in Digital Turbine by 3.4% in the 2nd quarter. Advisory Services Network LLC now owns 181,004 shares of the software maker’s stock worth $905,000 after acquiring an additional 5,942 shares during the last quarter. Bank of Montreal Can purchased a new stake in Digital Turbine in the 2nd quarter worth about $32,000. Steward Partners Investment Advisory LLC purchased a new stake in Digital Turbine in the 2nd quarter worth about $33,000. Finally, Wedbush Securities Inc. increased its holdings in Digital Turbine by 30.4% in the 1st quarter. Wedbush Securities Inc. now owns 30,000 shares of the software maker’s stock worth $105,000 after acquiring an additional 7,000 shares during the last quarter. 27.19% of the stock is owned by hedge funds and other institutional investors.
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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