Digital Turbine (NASDAQ:APPS) Trading Up 9.6%

Digital Turbine Inc (NASDAQ:APPS)’s stock price was up 9.6% on Friday . The stock traded as high as $6.63 and last traded at $6.52, approximately 3,678,699 shares were traded during trading. An increase of 149% from the average daily volume of 1,478,280 shares. The stock had previously closed at $5.95.

Several analysts have recently weighed in on APPS shares. BidaskClub upgraded Digital Turbine from a “buy” rating to a “strong-buy” rating in a report on Tuesday. Zacks Investment Research upgraded Digital Turbine from a “hold” rating to a “buy” rating and set a $5.75 price target on the stock in a report on Tuesday, July 2nd. Craig Hallum set a $6.00 price target on Digital Turbine and gave the stock a “buy” rating in a report on Tuesday, June 4th. National Securities reiterated a “buy” rating and issued a $4.50 target price on shares of Digital Turbine in a report on Tuesday, June 4th. Finally, Canaccord Genuity started coverage on Digital Turbine in a report on Thursday, June 27th. They issued a “buy” rating and a $6.00 target price on the stock. Six analysts have rated the stock with a buy rating and two have issued a strong buy rating to the company. Digital Turbine has an average rating of “Buy” and a consensus price target of $5.56.

The company has a fifty day moving average of $5.46 and a 200 day moving average of $4.07. The firm has a market capitalization of $512.75 million, a P/E ratio of 130.40 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 EPS for the quarter, beating the Thomson Reuters’ 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 business had revenue of $30.55 million for the quarter, compared to analysts’ expectations of $28.39 million. As a group, equities analysts anticipate that Digital Turbine Inc will post 0.17 earnings per share for the current fiscal year.

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

A number of institutional investors and hedge funds have recently modified their holdings of the business. Wedbush Securities Inc. raised its position in shares of Digital Turbine by 30.4% during the first quarter. Wedbush Securities Inc. now owns 30,000 shares of the software maker’s stock worth $105,000 after purchasing an additional 7,000 shares during the period. Roubaix Capital LLC raised its position in shares of Digital Turbine by 3.5% during the second quarter. Roubaix Capital LLC now owns 525,680 shares of the software maker’s stock worth $2,628,000 after purchasing an additional 17,994 shares during the period. Bank of New York Mellon Corp raised its position in shares of Digital Turbine by 66.1% during 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 during the period. Sterling Investment Advisors Ltd. acquired a new position in shares of Digital Turbine during the first quarter worth approximately $88,000. Finally, Laurion Capital Management LP raised its position in shares of Digital Turbine by 412.8% during the first quarter. Laurion Capital Management LP now owns 328,700 shares of the software maker’s stock worth $1,150,000 after purchasing an additional 264,600 shares during the period. 27.19% of the stock is currently owned by hedge funds and other institutional investors.

Digital Turbine Company Profile (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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