Digital Turbine (NASDAQ:APPS) Sets New 52-Week High – Here’s What Happened

Digital Turbine, Inc. (NASDAQ:APPS)’s share price hit a new 52-week high during trading on Friday . The stock traded as high as $10.92 and last traded at $11.1780, with a volume of 1682583 shares trading hands. The stock had previously closed at $10.16.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on APPS. Zacks Research upgraded Digital Turbine from a “hold” rating to a “strong-buy” rating in a report on Thursday, May 28th. Weiss Ratings downgraded shares of Digital Turbine from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Friday, June 5th. Wall Street Zen upgraded shares of Digital Turbine from a “hold” rating to a “buy” rating in a research note on Saturday, May 9th. Finally, Bank of America upgraded shares of Digital Turbine from a “neutral” rating to a “buy” rating and set a $7.50 target price on the stock in a research report on Wednesday, May 27th. One analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and one has given a Sell rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $8.75.

Digital Turbine Price Performance

The company has a quick ratio of 1.16, a current ratio of 1.16 and a debt-to-equity ratio of 1.84. The business’s 50 day simple moving average is $6.40 and its two-hundred day simple moving average is $5.04. The stock has a market capitalization of $1.34 billion, a P/E ratio of -30.75, a price-to-earnings-growth ratio of 0.86 and a beta of 2.85.

Digital Turbine (NASDAQ:APPS) last announced its quarterly earnings results on Tuesday, May 26th. The software maker reported $0.16 earnings per share for the quarter, beating the consensus estimate of $0.09 by $0.07. The business had revenue of $142.55 million for the quarter, compared to analysts’ expectations of $133.22 million. Digital Turbine had a negative net margin of 6.68% and a positive return on equity of 27.60%. As a group, sell-side analysts forecast that Digital Turbine, Inc. will post 0.68 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Digital Turbine

Several institutional investors have recently bought and sold shares of the stock. Citigroup Inc. grew its stake in shares of Digital Turbine by 642.7% in the 3rd quarter. Citigroup Inc. now owns 316,825 shares of the software maker’s stock worth $2,028,000 after acquiring an additional 274,169 shares in the last quarter. Granahan Investment Management LLC lifted its position in shares of Digital Turbine by 77.2% during the third quarter. Granahan Investment Management LLC now owns 5,713,937 shares of the software maker’s stock valued at $36,569,000 after purchasing an additional 2,489,376 shares in the last quarter. UBS Group AG boosted its holdings in Digital Turbine by 444.0% during the fourth quarter. UBS Group AG now owns 779,585 shares of the software maker’s stock worth $3,898,000 after purchasing an additional 636,267 shares during the last quarter. S Squared Technology LLC boosted its holdings in Digital Turbine by 13.0% during the fourth quarter. S Squared Technology LLC now owns 653,571 shares of the software maker’s stock worth $3,268,000 after purchasing an additional 75,000 shares during the last quarter. Finally, Manatuck Hill Partners LLC grew its position in Digital Turbine by 233.3% in the 4th quarter. Manatuck Hill Partners LLC now owns 2,000,000 shares of the software maker’s stock worth $10,000,000 after purchasing an additional 1,400,000 shares in the last quarter. Institutional investors own 63.66% of the company’s stock.

Digital Turbine Company Profile

Digital Turbine, Inc (NASDAQ: APPS) is a mobile technology company that streamlines content delivery and app advertising across connected devices. Its platform enables carriers, OEMs, app developers and advertisers to engage users through personalized app recommendations, in-app promotions and turnkey monetization solutions. By integrating software directly on smartphones and tablets, Digital Turbine simplifies the user journey from discovery to installation without requiring additional downloads or redirects through traditional app stores.

The company’s flagship Ignite Platform offers end-to-end campaign management, combining demand-side advertising, real-time analytics and automated content fulfillment.