Analysts Set Digital Turbine, Inc. (NASDAQ:APPS) Price Target at $14.71

Posted by on Aug 6th, 2023

Shares of Digital Turbine, Inc. (NASDAQ:APPS – Get Free Report) have earned a consensus recommendation of “Hold” from the seven research firms that are currently covering the stock, Marketbeat.com reports. Five analysts have rated the stock with a hold rating and two have given a buy rating to the company. The average 1-year price objective among analysts that have updated their coverage on the stock in the last year is $14.71.

A number of equities analysts have recently commented on APPS shares. StockNews.com started coverage on shares of Digital Turbine in a research report on Thursday, May 18th. They issued a “sell” rating for the company. Roth Capital lowered shares of Digital Turbine from a “buy” rating to a “neutral” rating in a research report on Thursday, May 25th. Roth Mkm lowered shares of Digital Turbine from a “buy” rating to a “neutral” rating and cut their price objective for the company from $15.00 to $10.00 in a research report on Thursday, May 25th. Bank of America cut their price objective on shares of Digital Turbine from $16.00 to $13.00 in a research report on Thursday, May 25th. Finally, Craig Hallum cut their price objective on shares of Digital Turbine from $25.00 to $20.00 in a research report on Thursday, May 25th.

Insider Activity at Digital Turbine

In related news, Director Robert M. Deutschman bought 5,000 shares of the stock in a transaction that occurred on Tuesday, May 30th. The shares were acquired at an average cost of $8.77 per share, with a total value of $43,850.00. Following the completion of the purchase, the director now directly owns 304,017 shares of the company’s stock, valued at approximately $2,666,229.09. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 5.20% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the business. Quantbot Technologies LP purchased a new position in shares of Digital Turbine in the first quarter worth $58,000. Canada Pension Plan Investment Board purchased a new position in shares of Digital Turbine in the first quarter worth $73,000. Lazard Asset Management LLC purchased a new position in shares of Digital Turbine in the fourth quarter worth $31,000. Parkside Financial Bank & Trust increased its stake in shares of Digital Turbine by 102.7% in the first quarter. Parkside Financial Bank & Trust now owns 2,213 shares of the software maker’s stock worth $27,000 after buying an additional 1,121 shares during the period. Finally, Quadrant Capital Group LLC increased its stake in shares of Digital Turbine by 340.0% in the fourth quarter. Quadrant Capital Group LLC now owns 3,806 shares of the software maker’s stock worth $58,000 after buying an additional 2,941 shares during the period. 68.65% of the stock is owned by hedge funds and other institutional investors.

Digital Turbine Price Performance

Shares of NASDAQ:APPS opened at $10.37 on Thursday. The company has a quick ratio of 1.20, a current ratio of 1.20 and a debt-to-equity ratio of 0.68. The firm has a market capitalization of $1.04 billion, a PE ratio of 64.82, a P/E/G ratio of 1.25 and a beta of 2.44. Digital Turbine has a twelve month low of $7.72 and a twelve month high of $25.00. The company has a 50-day moving average price of $9.63 and a two-hundred day moving average price of $11.58.

Digital Turbine (NASDAQ:APPS – Get Free Report) last issued its earnings results on Wednesday, May 24th. The software maker reported $0.03 earnings per share for the quarter, missing analysts’ consensus estimates of $0.13 by ($0.10). The business had revenue of $140.12 million for the quarter, compared to the consensus estimate of $140.04 million. Digital Turbine had a return on equity of 14.64% and a net margin of 2.50%. Equities analysts forecast that Digital Turbine will post 0.48 EPS for the current year.

Digital Turbine Company Profile

(Get Free Report

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.

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Analyst Recommendations for Digital Turbine (NASDAQ:APPS)

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