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

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

Analysts Set New Price Targets

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

Digital Turbine Price Performance

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

Digital Turbine (NASDAQ:APPS) last posted its quarterly earnings data on Wednesday, February 5th. The software maker reported $0.05 EPS for the quarter, missing the consensus estimate 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%. On average, equities analysts expect that Digital Turbine, Inc. will post -0.13 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. Blue Trust Inc. raised its stake in shares of Digital Turbine by 104.1% during the 3rd quarter. Blue Trust Inc. now owns 8,169 shares of the software maker’s stock worth $25,000 after acquiring an additional 4,167 shares in the last quarter. SBI Securities Co. Ltd. bought a new position in shares of Digital Turbine during the 4th quarter worth approximately $28,000. Plancorp LLC bought a new position in shares of Digital Turbine during the 4th quarter worth approximately $35,000. Ballentine Partners LLC acquired a new position in Digital Turbine during the 3rd quarter valued at approximately $43,000. Finally, Ieq Capital LLC acquired a new position in Digital Turbine during the 4th quarter valued at approximately $55,000. Institutional investors own 63.66% of the company’s stock.

About Digital Turbine

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.