Digital Turbine, Inc. (NASDAQ:APPS) Receives $83.17 Consensus Price Target from Analysts


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Digital Turbine, Inc. (NASDAQ:APPS) has earned an average rating of “Buy” from the nine ratings firms that are covering the stock, Marketbeat.com reports. Two analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. The average twelve-month target price among analysts that have updated their coverage on the stock in the last year is $83.17.

Several equities research analysts recently issued reports on the stock. Canaccord Genuity cut shares of Digital Turbine from a “buy” rating to a “hold” rating and set a $60.00 target price on the stock. in a report on Monday, December 21st. Craig Hallum raised their target price on shares of Digital Turbine from $90.00 to $105.00 and gave the stock a “buy” rating in a report on Monday, March 29th. Maxim Group raised their target price on shares of Digital Turbine from $85.00 to $111.00 and gave the stock a “buy” rating in a report on Tuesday, March 30th. Zacks Investment Research cut shares of Digital Turbine from a “buy” rating to a “hold” rating in a research note on Tuesday, April 6th. Finally, Roth Capital lifted their price target on shares of Digital Turbine from $100.00 to $115.00 and gave the stock a “buy” rating in a research note on Monday, March 29th.

Shares of APPS traded down $4.57 on Friday, hitting $84.10. 2,873,465 shares of the stock traded hands, compared to its average volume of 3,956,343. The company has a market capitalization of $7.52 billion, a PE ratio of 280.34, a P/E/G ratio of 2.07 and a beta of 2.42. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.89 and a current ratio of 0.89. The business has a 50 day simple moving average of $81.26 and a 200 day simple moving average of $58.00. Digital Turbine has a one year low of $4.51 and a one year high of $102.56.

Digital Turbine (NASDAQ:APPS) last issued its earnings results on Tuesday, February 2nd. The software maker reported $0.21 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.18 by $0.03. Digital Turbine had a net margin of 13.38% and a return on equity of 38.26%. The company had revenue of $88.59 million for the quarter, compared to analysts’ expectations of $75.86 million. During the same quarter last year, the company posted $0.05 earnings per share. The firm’s quarterly revenue was up 146.0% on a year-over-year basis. On average, equities analysts expect that Digital Turbine will post 0.54 earnings per share for the current year.

In other Digital Turbine news, CAO David Wesch sold 25,000 shares of the firm’s stock in a transaction that occurred on Monday, February 8th. The stock was sold at an average price of $88.23, for a total transaction of $2,205,750.00. Following the completion of the transaction, the chief accounting officer now owns 25,000 shares in the company, valued at approximately $2,205,750. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 6.20% of the company’s stock.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in APPS. Tsfg LLC bought a new stake in shares of Digital Turbine in the 4th quarter valued at approximately $28,000. Navis Wealth Advisors LLC bought a new stake in shares of Digital Turbine in the 4th quarter valued at approximately $28,000. RMR Wealth Builders bought a new stake in shares of Digital Turbine in the 4th quarter valued at approximately $28,000. Neo Ivy Capital Management bought a new stake in shares of Digital Turbine in the 4th quarter valued at approximately $31,000. Finally, Global Retirement Partners LLC lifted its stake in shares of Digital Turbine by 475.2% in the 4th quarter. Global Retirement Partners LLC now owns 880 shares of the software maker’s stock valued at $50,000 after purchasing an additional 727 shares during the last quarter. Institutional investors and hedge funds own 60.69% of the company’s stock.

About Digital Turbine

Digital Turbine, Inc, through its subsidiaries, provides media and mobile communication products and solutions for mobile operators, application advertisers, device original equipment manufacturers, and other third parties worldwide. Its software platform that enables mobile operators and OEMs to control, manage, and monetize devices.

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Analyst Recommendations for Digital Turbine (NASDAQ:APPS)

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