Digital Turbine Inc (NASDAQ:APPS) gapped down before the market opened on Thursday . The stock had previously closed at $5.97, but opened at $6.36. Digital Turbine shares last traded at $6.08, with a volume of 156,820 shares.
APPS has been the subject of several recent research reports. B. Riley upped their price objective on Digital Turbine from $6.00 to $6.00 and gave the company a “buy” rating in a research note on Wednesday, June 19th. LADENBURG THALM/SH SH upped their price objective on Digital Turbine from $4.50 to $5.10 and gave the company a “buy” rating in a research note on Tuesday, June 4th. BidaskClub raised Digital Turbine from a “buy” rating to a “strong-buy” rating in a research note on Tuesday. National Securities reaffirmed a “buy” rating and issued a $4.50 price objective on shares of Digital Turbine in a research note on Tuesday, June 4th. Finally, Craig Hallum set a $6.00 price objective on Digital Turbine and gave the company a “buy” rating in a research note on Tuesday, June 4th. Six investment analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the stock. The stock has an average rating of “Buy” and a consensus target price of $5.56.
The company has a 50 day moving average price of $5.43 and a 200-day moving average price of $4.06. The company has a market cap of $543.72 million, a price-to-earnings ratio of 119.00 and a beta of 1.83.
Digital Turbine (NASDAQ:APPS) last released its quarterly earnings data on Monday, August 5th. The software maker reported $0.04 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.03 by $0.01. The company had revenue of $30.55 million during the quarter, compared to the consensus estimate of $28.39 million. Digital Turbine had a positive return on equity of 23.70% and a negative net margin of 7.42%. On average, analysts anticipate that Digital Turbine Inc will post 0.17 earnings per share for the current fiscal year.
In other Digital Turbine news, Director Paul M. Schaeffer sold 150,000 shares of the stock in a transaction that occurred on Monday, June 10th. The shares were sold at an average price of $4.47, for a total transaction of $670,500.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Paul M. Schaeffer sold 31,847 shares of the stock in a transaction that occurred on Thursday, June 6th. The shares were sold at an average price of $4.54, for a total transaction of $144,585.38. The disclosure for this sale can be found here. Corporate insiders own 5.80% of the company’s stock.
A number of large investors have recently added to or reduced their stakes in APPS. BlackRock Inc. increased its position in Digital Turbine by 298.8% during the 2nd quarter. BlackRock Inc. now owns 5,105,929 shares of the software maker’s stock valued at $25,529,000 after purchasing an additional 3,825,466 shares during the period. Allianz Asset Management GmbH acquired a new stake in Digital Turbine during the 2nd quarter valued at approximately $5,204,000. Vanguard Group Inc. increased its position in Digital Turbine by 35.9% during the 2nd quarter. Vanguard Group Inc. now owns 3,560,468 shares of the software maker’s stock valued at $17,802,000 after purchasing an additional 940,198 shares during the period. Invesco Ltd. acquired a new stake in Digital Turbine during the 2nd quarter valued at approximately $2,847,000. Finally, Calamos Advisors LLC acquired a new stake in Digital Turbine during the 2nd quarter valued at approximately $2,185,000. 27.19% of the stock is owned by institutional investors and hedge funds.
Digital Turbine Company Profile (NASDAQ:APPS)
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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