Wall Street Zen upgraded shares of Digital Turbine (NASDAQ:APPS – Free Report) from a hold rating to a buy rating in a report issued on Saturday.
Separately, Craig Hallum increased their price objective on Digital Turbine from $4.00 to $7.00 and gave the company a “buy” rating in a report on Tuesday, June 17th.
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Digital Turbine Trading Down 14.5%
Digital Turbine (NASDAQ:APPS – Get Free Report) last posted its earnings results on Monday, June 16th. The software maker reported $0.10 EPS for the quarter, topping the consensus estimate of $0.05 by $0.05. The firm had revenue of $119.15 million for the quarter, compared to the consensus estimate of $116.64 million. Digital Turbine had a negative net margin of 18.61% and a positive return on equity of 1.89%. During the same period in the prior year, the business posted $0.12 earnings per share. On average, analysts forecast that Digital Turbine will post -0.03 earnings per share for the current fiscal year.
Institutional Inflows and Outflows
A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Ieq Capital LLC acquired a new stake in shares of Digital Turbine in the fourth quarter valued at about $55,000. P.A.W. Capital Corp grew its holdings in Digital Turbine by 33.3% in the 4th quarter. P.A.W. Capital Corp now owns 200,000 shares of the software maker’s stock valued at $338,000 after buying an additional 50,000 shares during the last quarter. Oppenheimer & Co. Inc. grew its holdings in Digital Turbine by 28.8% in the 4th quarter. Oppenheimer & Co. Inc. now owns 37,726 shares of the software maker’s stock valued at $64,000 after buying an additional 8,426 shares during the last quarter. SBI Securities Co. Ltd. acquired a new stake in Digital Turbine in the 4th quarter valued at approximately $28,000. Finally, Charles Schwab Investment Management Inc. grew its holdings in Digital Turbine by 14.2% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 886,508 shares of the software maker’s stock valued at $1,498,000 after buying an additional 110,427 shares during the last quarter. 63.66% of the stock is currently owned by institutional investors and hedge funds.
About Digital Turbine
Digital Turbine, Inc, through its subsidiaries, operates a mobile growth platform for advertisers, publishers, carriers, and device original equipment manufacturers (OEMs). The company operates through two segments, On Device Solutions and App Growth Platform. Its application media platform delivers mobile applications to various publishers, carriers, OEMs, and devices; and content media platform offers news, weather, sports, and other content, as well as programmatic advertising and media content delivery services, and sponsored and editorial content media.
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