Digital Turbine (NASDAQ:APPS) Sets New 12-Month High – Time to Buy?

Digital Turbine, Inc. (NASDAQ:APPS)’s share price hit a new 52-week high during mid-day trading on Friday . The company traded as high as $6.86 and last traded at $6.52, with a volume of 10642352 shares trading hands. The stock had previously closed at $6.14.

Analysts Set New Price Targets

APPS has been the topic of a number of recent analyst reports. Macquarie cut their price target on shares of Digital Turbine from $3.00 to $2.00 and set a “neutral” rating on the stock in a research note on Thursday, November 7th. Craig Hallum cut their price target on shares of Digital Turbine from $5.00 to $4.00 and set a “buy” rating on the stock in a research note on Thursday, November 7th. StockNews.com upgraded shares of Digital Turbine from a “sell” rating to a “hold” rating in a research note on Wednesday. Finally, Bank of America lowered shares of Digital Turbine from a “neutral” rating to an “underperform” rating and cut their price objective for the stock from $3.50 to $1.00 in a research note on Friday, November 15th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $2.38.

Digital Turbine Price Performance

The stock has a market cap of $684.67 million, a price-to-earnings ratio of -2.15 and a beta of 2.38. The stock’s 50 day moving average price is $2.26 and its two-hundred day moving average price is $2.55. The company has a quick ratio of 1.09, a current ratio of 1.06 and a debt-to-equity ratio of 2.50.

Digital Turbine (NASDAQ:APPS) last released its quarterly earnings data on Wednesday, February 5th. The software maker reported $0.05 earnings per share for the quarter, missing analysts’ consensus estimates of $0.13 by ($0.08). Digital Turbine had a positive return on equity of 3.41% and a negative net margin of 64.06%. Equities research analysts forecast that Digital Turbine, Inc. will post -0.13 EPS for the current fiscal year.

Institutional Trading of Digital Turbine

A number of hedge funds have recently added to or reduced their stakes in APPS. Marshall Wace LLP purchased a new stake in Digital Turbine during the fourth quarter worth $1,698,000. JPMorgan Chase & Co. boosted its holdings in Digital Turbine by 719.6% during the third quarter. JPMorgan Chase & Co. now owns 387,834 shares of the software maker’s stock worth $1,191,000 after buying an additional 340,512 shares in the last quarter. Prescott Group Capital Management L.L.C. purchased a new stake in Digital Turbine during the fourth quarter worth $372,000. Virtu Financial LLC purchased a new stake in Digital Turbine during the fourth quarter worth $336,000. Finally, Geode Capital Management LLC boosted its holdings in Digital Turbine by 8.4% during the third quarter. Geode Capital Management LLC now owns 2,334,648 shares of the software maker’s stock worth $7,169,000 after buying an additional 181,032 shares in the last quarter. 63.66% of the stock is owned by hedge funds and other institutional investors.

Digital Turbine Company Profile

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.