Digital Turbine (NASDAQ:APPS) had its target price upped by LADENBURG THALM/SH SH from $4.50 to $5.10 in a research report sent to investors on Tuesday, June 4th, The Fly reports. They currently have a buy rating on the software maker’s stock.
A number of other equities research analysts also recently weighed in on APPS. B. Riley reissued a buy rating and issued a $4.00 price target (up from $2.90) on shares of Digital Turbine in a report on Tuesday, February 26th. Zacks Investment Research downgraded Digital Turbine from a buy rating to a hold rating in a report on Tuesday, April 30th. One research analyst has rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. The stock has a consensus rating of Buy and a consensus target price of $5.37.
Shares of Digital Turbine stock traded up $0.12 during trading on Tuesday, hitting $4.68. 953,500 shares of the stock were exchanged, compared to its average volume of 1,225,217. The company has a fifty day moving average of $4.21. The stock has a market cap of $374.09 million, a PE ratio of 93.60 and a beta of 1.68. Digital Turbine has a 12 month low of $1.12 and a 12 month high of $4.96.
Digital Turbine (NASDAQ:APPS) last released its quarterly earnings results on Monday, June 3rd. The software maker reported $0.02 EPS for the quarter, topping the consensus estimate of $0.01 by $0.01. The business had revenue of $27.19 million during the quarter, compared to analyst estimates of $26.55 million. Digital Turbine had a negative net margin of 5.80% and a positive return on equity of 10.53%. Analysts forecast that Digital Turbine will post 0.09 earnings per share for the current fiscal year.
In other Digital Turbine news, Director Paul M. Schaeffer sold 150,000 shares of Digital Turbine stock in a transaction on Monday, June 10th. The stock was sold at an average price of $4.47, for a total transaction of $670,500.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Paul M. Schaeffer sold 31,847 shares of Digital Turbine stock in a transaction on Thursday, June 6th. The shares were sold at an average price of $4.54, for a total value of $144,585.38. The disclosure for this sale can be found here. 6.20% of the stock is currently owned by corporate insiders.
A number of institutional investors and hedge funds have recently modified their holdings of the business. Wedbush Securities Inc. boosted its holdings in Digital Turbine by 30.4% during the first quarter. Wedbush Securities Inc. now owns 30,000 shares of the software maker’s stock worth $105,000 after buying an additional 7,000 shares during the last quarter. DORCHESTER WEALTH MANAGEMENT Co bought a new position in Digital Turbine during the first quarter worth about $35,000. Vanguard Group Inc boosted its holdings in Digital Turbine by 0.4% during the third quarter. Vanguard Group Inc now owns 2,847,934 shares of the software maker’s stock worth $3,532,000 after buying an additional 12,400 shares during the last quarter. Cornerstone Wealth Group LLC bought a new position in Digital Turbine during the first quarter worth about $44,000. Finally, BlackRock Inc. boosted its holdings in Digital Turbine by 5.1% during the fourth quarter. BlackRock Inc. now owns 349,869 shares of the software maker’s stock worth $640,000 after buying an additional 16,845 shares during the last quarter. Hedge funds and other institutional investors own 27.95% of the company’s stock.
About Digital Turbine
Digital Turbine, Inc, through its subsidiaries, provides media and mobile communication solutions for mobile operators, application developers, device original equipment manufacturers, and other third parties worldwide. The company offers Ignite, a mobile application management software to control, manage, and monetize the applications that are installed on mobile devices and professional services directly related to the ignite platform.
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