Analysts Set $2.28 Target Price for Digital Turbine Inc. (NASDAQ:APPS)
Digital Turbine Inc. (NASDAQ:APPS) has been given a consensus broker rating score of 1.50 (Buy) from the four brokers that provide coverage for the company, Zacks Investment Research reports. One research analyst has rated the stock with a hold rating and three have issued a strong buy rating on the company.
Brokerages have set a 12 month consensus price objective of $2.28 for the company and are forecasting that the company will post ($0.08) earnings per share for the current quarter, according to Zacks. Zacks has also given Digital Turbine an industry rank of 69 out of 265 based on the ratings given to related companies.
A number of brokerages have issued reports on APPS. Ladenburg Thalmann raised Digital Turbine from a “neutral” rating to a “buy” rating and raised their price target for the stock from $1.26 to $2.35 in a research note on Wednesday, August 31st. B. Riley reissued a “buy” rating and issued a $1.70 price target on shares of Digital Turbine in a research note on Wednesday, August 10th. Leerink Swann lowered Digital Turbine from a “buy” rating to a “neutral” rating and set a $1.15 price target on the stock. in a research note on Tuesday, June 14th. Zacks Investment Research raised Digital Turbine from a “sell” rating to a “hold” rating and set a $1.25 price target on the stock in a research note on Tuesday, June 14th. Finally, Roth Capital lowered Digital Turbine from a “buy” rating to a “neutral” rating in a research note on Monday, September 26th.
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Shares of Digital Turbine (NASDAQ:APPS) traded down 0.98% on Friday, hitting $1.01. 26,949 shares of the stock traded hands. The company’s market cap is $67.30 million. Digital Turbine has a 12 month low of $0.73 and a 12 month high of $1.97. The firm’s 50 day moving average is $1.19 and its 200-day moving average is $1.07.
Digital Turbine (NASDAQ:APPS) last issued its quarterly earnings results on Tuesday, August 9th. The company reported ($0.11) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.08) by $0.03. Digital Turbine had a negative return on equity of 30.82% and a negative net margin of 29.61%. The business earned $24.04 million during the quarter, compared to analyst estimates of $23.82 million. During the same period in the previous year, the business posted ($0.22) earnings per share. The firm’s quarterly revenue was up 28.6% on a year-over-year basis. Equities analysts predict that Digital Turbine will post ($0.29) earnings per share for the current year.
Several institutional investors have recently added to or reduced their stakes in the stock. Paloma Partners Management Co purchased a new position in Digital Turbine during the second quarter valued at $225,000. Geode Capital Management LLC increased its stake in shares of Digital Turbine by 7.4% in the first quarter. Geode Capital Management LLC now owns 257,594 shares of the company’s stock valued at $306,000 after buying an additional 17,789 shares during the last quarter. Trellus Management Company LLC increased its stake in shares of Digital Turbine by 3.5% in the second quarter. Trellus Management Company LLC now owns 470,100 shares of the company’s stock valued at $503,000 after buying an additional 16,000 shares during the last quarter. State Street Corp increased its stake in shares of Digital Turbine by 29.2% in the first quarter. State Street Corp now owns 506,334 shares of the company’s stock valued at $605,000 after buying an additional 114,424 shares during the last quarter. Finally, White Pine Capital LLC increased its stake in shares of Digital Turbine by 12.3% in the second quarter. White Pine Capital LLC now owns 620,675 shares of the company’s stock valued at $664,000 after buying an additional 68,200 shares during the last quarter. 18.88% of the stock is currently owned by institutional investors and hedge funds.
About Digital Turbine
Digital Turbine, Inc is engaged in delivering end-to-end products and solutions for mobile operators, application advertisers, device original equipment manufacturers (OEMs) and other third parties to enable them to monetize mobile content. The Company operates its business in two operating segments: Advertising and Content.
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