Digital Turbine Inc. (APPS) Receives Buy Rating from B. Riley
Digital Turbine Inc. (NASDAQ:APPS)‘s stock had its “buy” rating reissued by equities researchers at B. Riley in a research note issued to investors on Monday. They currently have a $1.35 price target on the stock. B. Riley’s price target indicates a potential upside of 62.65% from the stock’s previous close.
A number of other research firms have also commented on APPS. Ladenburg Thalmann upgraded Digital Turbine from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $1.26 to $2.35 in a research note on Wednesday, August 31st. Roth Capital lowered Digital Turbine from a “buy” rating to a “neutral” rating in a research note on Monday, September 26th. Craig Hallum lowered Digital Turbine from a “buy” rating to a “hold” rating in a research note on Tuesday, October 11th. Finally, Zacks Investment Research lowered Digital Turbine from a “hold” rating to a “sell” rating in a research note on Tuesday, October 11th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and two have assigned a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average target price of $2.77.
Shares of Digital Turbine (NASDAQ:APPS) opened at 0.83 on Monday. Digital Turbine has a 12-month low of $0.73 and a 12-month high of $1.80. The company’s market cap is $55.31 million. The company has a 50-day moving average price of $1.16 and a 200-day moving average price of $1.06.
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Digital Turbine (NASDAQ:APPS) last posted its quarterly earnings data on Tuesday, August 9th. The company reported ($0.11) EPS for the quarter, missing the Zacks’ consensus estimate 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 company had revenue of $24.04 million for the quarter, compared to the consensus estimate of $23.82 million. During the same quarter last year, the business earned ($0.22) EPS. Digital Turbine’s revenue was up 28.6% on a year-over-year basis. On average, analysts predict that Digital Turbine will post ($0.29) earnings per share for the current year.
Several large investors have recently added to or reduced their stakes in the stock. Paloma Partners Management Co purchased a new stake in Digital Turbine during the second quarter valued at $225,000. Geode Capital Management LLC increased its stake 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 period. Trellus Management Company LLC increased its stake 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 period. State Street Corp increased its stake 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 period. Finally, White Pine Capital LLC increased its stake 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 period. 18.88% of the stock is currently owned by institutional investors.
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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