Digital Turbine (NASDAQ:APPS) Reaches New 1-Year High – Should You Buy?

Shares of Digital Turbine, Inc. (NASDAQ:APPS) hit a new 52-week high on Friday . The stock 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

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

Digital Turbine Stock Performance

The company has a 50 day moving average price of $2.46 and a 200 day moving average price of $2.61. The company has a market capitalization of $650.01 million, a PE ratio of -2.04 and a beta of 2.38. The company has a debt-to-equity ratio of 2.50, a quick ratio of 1.09 and a current ratio of 1.06.

Digital Turbine (NASDAQ:APPS) last issued its earnings results 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%. Equities analysts forecast that Digital Turbine, Inc. will post -0.13 EPS for the current year.

Hedge Funds Weigh In On Digital Turbine

Several institutional investors have recently made changes to their positions in the stock. The Manufacturers Life Insurance Company increased its position in Digital Turbine by 9.9% in the second quarter. The Manufacturers Life Insurance Company now owns 41,135 shares of the software maker’s stock worth $68,000 after buying an additional 3,695 shares during the period. SG Americas Securities LLC boosted its stake in Digital Turbine by 80.9% during the 3rd quarter. SG Americas Securities LLC now owns 50,053 shares of the software maker’s stock valued at $154,000 after purchasing an additional 22,385 shares during the period. Creative Planning bought a new position in Digital Turbine in the 3rd quarter worth about $57,000. Blue Trust Inc. increased its stake in shares of Digital Turbine by 104.1% in the third 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 during the period. Finally, Ballentine Partners LLC bought a new stake in shares of Digital Turbine during the third quarter valued at approximately $43,000. 63.66% of the stock is owned by 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.