Digital Turbine Inc. (APPS) Given Consensus Recommendation of “Hold” by Brokerages
Digital Turbine Inc. (NASDAQ:APPS) has been assigned an average recommendation of “Hold” from the six analysts that are covering the firm. Four investment analysts have rated the stock with a hold recommendation and two have issued a buy recommendation on the company. The average 1 year price target among brokers that have updated their coverage on the stock in the last year is $1.61.
Several analysts have issued reports on APPS shares. Ladenburg Thalmann cut Digital Turbine from a “buy” rating to a “neutral” rating in a report on Tuesday, June 14th. Leerink Swann cut Digital Turbine from a “buy” rating to a “neutral” rating and set a $1.15 target price for the company. in a report on Tuesday, June 14th. Zacks Investment Research upgraded Digital Turbine from a “sell” rating to a “hold” rating and set a $1.25 target price for the company in a report on Tuesday, June 14th. B. Riley reiterated a “buy” rating and set a $1.70 price target on shares of Digital Turbine in a report on Wednesday, June 15th. Finally, Roth Capital cut Digital Turbine from a “buy” rating to a “neutral” rating in a report on Monday, September 26th.
A number of institutional investors have recently bought and sold shares of the company. Paloma Partners Management Co purchased a new position in Digital Turbine during the second quarter valued at about $225,000. Geode Capital Management LLC raised its position in 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 raised its position in 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 raised its position in 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 raised its position in 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 hedge funds and other institutional investors.
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Digital Turbine (NASDAQ:APPS) traded down 8.0600% during trading on Tuesday, reaching $0.9194. The company’s stock had a trading volume of 658,760 shares. The stock’s market capitalization is $61.26 million. Digital Turbine has a 1-year low of $0.73 and a 1-year high of $1.80. The stock has a 50 day moving average price of $1.19 and a 200 day moving average price of $1.07.
Digital Turbine (NASDAQ:APPS) last issued its earnings results on Tuesday, August 9th. The company reported ($0.11) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.08) by $0.03. The company earned $24.04 million during the quarter, compared to analysts’ expectations of $23.82 million. Digital Turbine had a negative net margin of 29.61% and a negative return on equity of 30.82%. The firm’s quarterly revenue was up 28.6% compared to the same quarter last year. During the same quarter in the previous year, the company earned ($0.22) earnings per share. Analysts anticipate that Digital Turbine will post ($0.29) earnings per share for the current fiscal year.
Digital Turbine Company Profile
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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