Digital Turbine (APPS) Given a $4.00 Price Target at National Securities

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National Securities set a $4.00 price target on Digital Turbine (NASDAQ:APPS) in a report issued on Tuesday. The brokerage currently has a buy rating on the software maker’s stock.

A number of other equities analysts have also weighed in on the stock. Zacks Investment Research lowered shares of Digital Turbine from a hold rating to a sell rating in a research note on Tuesday, July 10th. ValuEngine lowered shares of Digital Turbine from a buy rating to a hold rating in a research note on Thursday, August 2nd. Two analysts have rated the stock with a hold rating and three have given a buy rating to the stock. The stock presently has a consensus rating of Buy and a consensus price target of $2.77.

NASDAQ APPS traded down $0.05 on Tuesday, reaching $1.47. The company had a trading volume of 229 shares, compared to its average volume of 207,561. The firm has a market cap of $103.69 million, a PE ratio of -16.33 and a beta of 1.05. The company has a current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 0.25. Digital Turbine has a 1-year low of $1.12 and a 1-year high of $2.59.

Digital Turbine (NASDAQ:APPS) last announced its earnings results on Thursday, August 9th. The software maker reported ($0.01) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.02) by $0.01. The firm had revenue of $22.11 million during the quarter, compared to analyst estimates of $22.98 million. Digital Turbine had a negative net margin of 44.22% and a negative return on equity of 16.50%. Equities research analysts forecast that Digital Turbine will post -0.04 EPS for the current year.

In other Digital Turbine news, Director Robert M. Deutschman purchased 25,000 shares of the business’s stock in a transaction on Tuesday, September 11th. The shares were purchased at an average cost of $1.27 per share, with a total value of $31,750.00. Following the transaction, the director now directly owns 292,550 shares of the company’s stock, valued at approximately $371,538.50. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Roy H. Chestnutt purchased 20,000 shares of the business’s stock in a transaction on Thursday, September 6th. The shares were acquired at an average cost of $1.32 per share, for a total transaction of $26,400.00. Following the completion of the transaction, the director now directly owns 66,763 shares in the company, valued at $88,127.16. The disclosure for this purchase can be found here. 6.20% of the stock is currently owned by corporate insiders.

Large investors have recently modified their holdings of the business. Granahan Investment Management Inc. MA lifted its position in Digital Turbine by 143.8% during the 2nd quarter. Granahan Investment Management Inc. MA now owns 1,400,126 shares of the software maker’s stock worth $2,114,000 after buying an additional 825,915 shares in the last quarter. BDO Wealth Advisors LLC bought a new stake in Digital Turbine during the 2nd quarter worth about $642,000. Barclays PLC bought a new stake in Digital Turbine during the 1st quarter worth about $162,000. United Services Automobile Association lifted its position in Digital Turbine by 143.8% during the 2nd quarter. United Services Automobile Association now owns 1,382,947 shares of the software maker’s stock worth $2,088,000 after buying an additional 815,677 shares in the last quarter. Finally, Millennium Management LLC lifted its position in Digital Turbine by 397.9% during the 1st quarter. Millennium Management LLC now owns 1,549,547 shares of the software maker’s stock worth $3,115,000 after buying an additional 1,238,351 shares in the last quarter. 26.45% of the stock is currently owned by hedge funds and other institutional investors.

About Digital Turbine

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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