Digital Turbine (NASDAQ:APPS) Shares Up 9.2% – Should You Buy?

Shares of Digital Turbine, Inc. (NASDAQ:APPS) were up 9.2% during trading on Monday . The stock traded as high as $5.16 and last traded at $5.35. Approximately 6,360,924 shares were traded during trading, a decline of 26% from the average daily volume of 8,612,731 shares. The stock had previously closed at $4.90.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on the stock. Bank of America downgraded shares of Digital Turbine from a “neutral” rating to an “underperform” rating and cut their price target for the stock from $3.50 to $1.00 in a research note on Friday, November 15th. Craig Hallum cut their target price on Digital Turbine from $5.00 to $4.00 and set a “buy” rating on the stock in a research report on Thursday, November 7th. Finally, Macquarie lowered their price target on Digital Turbine from $3.00 to $2.00 and set a “neutral” rating for the company in a research report on Thursday, November 7th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and one has given a buy rating to the company’s stock. Based on data from MarketBeat.com, Digital Turbine has a consensus rating of “Hold” and a consensus target price of $2.38.

Digital Turbine Trading Up 12.7 %

The firm’s 50 day simple moving average is $2.17 and its 200-day simple moving average is $2.53. The company has a market capitalization of $644.76 million, a PE ratio of -2.03 and a beta of 2.38. 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 announced its quarterly earnings results 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%. As a group, equities research analysts anticipate that Digital Turbine, Inc. will post -0.13 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in APPS. Blue Trust Inc. raised its position in shares of Digital Turbine by 104.1% in the 3rd quarter. Blue Trust Inc. now owns 8,169 shares of the software maker’s stock valued at $25,000 after purchasing an additional 4,167 shares in the last quarter. Ballentine Partners LLC bought a new stake in shares of Digital Turbine in the third quarter worth $43,000. SBI Securities Co. Ltd. acquired a new stake in Digital Turbine in the fourth quarter valued at $28,000. Creative Planning bought a new position in Digital Turbine during the 3rd quarter valued at $57,000. Finally, Plancorp LLC acquired a new position in Digital Turbine during the 4th quarter worth $35,000. 63.66% of the stock is currently 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.