Digital Turbine, Inc. (NASDAQ:APPS) Receives $18.00 Average Price Target from Analysts

Digital Turbine, Inc. (NASDAQ:APPS – Get Rating) has been given an average rating of “Hold” by the seven ratings firms that are covering the company, Marketbeat.com reports. One investment analyst has rated the stock with a sell recommendation, three have issued a hold recommendation and two have assigned a buy recommendation to the company. The average 12-month price target among brokers that have covered the stock in the last year is $18.00.

A number of equities research analysts recently issued reports on the stock. StockNews.com assumed coverage on shares of Digital Turbine in a research note on Thursday, May 18th. They issued a “sell” rating on the stock. B. Riley reduced their price target on shares of Digital Turbine from $12.00 to $9.00 and set a “neutral” rating for the company in a research report on Monday, March 13th. Oppenheimer lowered shares of Digital Turbine from an “outperform” rating to a “market perform” rating in a research note on Thursday, February 9th. Macquarie lowered Digital Turbine from an “outperform” rating to a “neutral” rating and set a $12.00 price objective for the company. in a research note on Friday, February 17th. Finally, Craig Hallum decreased their target price on Digital Turbine from $30.00 to $25.00 and set a “buy” rating on the stock in a research report on Thursday, February 9th.

Digital Turbine Price Performance

NASDAQ:APPS opened at $14.36 on Friday. The stock has a market capitalization of $1.42 billion, a PE ratio of 29.31, a price-to-earnings-growth ratio of 1.47 and a beta of 2.47. Digital Turbine has a 52 week low of $9.13 and a 52 week high of $27.03. The company has a quick ratio of 1.18, a current ratio of 1.18 and a debt-to-equity ratio of 0.70. The stock’s 50-day moving average price is $11.98 and its 200-day moving average price is $13.92.

Insider Activity at Digital Turbine

In other Digital Turbine news, CEO William Gordon Stone III sold 36,025 shares of the company’s stock in a transaction on Thursday, March 2nd. The stock was sold at an average price of $10.75, for a total value of $387,268.75. Following the completion of the sale, the chief executive officer now directly owns 1,682,789 shares in the company, valued at approximately $18,089,981.75. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. In other Digital Turbine news, Director Robert M. Deutschman purchased 15,000 shares of the firm’s stock in a transaction dated Monday, March 13th. The shares were acquired at an average price of $9.80 per share, with a total value of $147,000.00. Following the purchase, the director now directly owns 289,017 shares in the company, valued at approximately $2,832,366.60. The purchase was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO William Gordon Stone III sold 36,025 shares of the business’s stock in a transaction dated Thursday, March 2nd. The shares were sold at an average price of $10.75, for a total transaction of $387,268.75. Following the completion of the sale, the chief executive officer now owns 1,682,789 shares in the company, valued at $18,089,981.75. The disclosure for this sale can be found here. Insiders own 5.50% of the company’s stock.

Institutional Investors Weigh In On Digital Turbine

Institutional investors and hedge funds have recently made changes to their positions in the stock. Advisors Asset Management Inc. raised its position in Digital Turbine by 1.8% in the first quarter. Advisors Asset Management Inc. now owns 27,375 shares of the software maker’s stock valued at $1,199,000 after purchasing an additional 495 shares during the period. Yousif Capital Management LLC lifted its stake in Digital Turbine by 1.4% during the 1st quarter. Yousif Capital Management LLC now owns 46,436 shares of the software maker’s stock worth $2,034,000 after acquiring an additional 630 shares in the last quarter. Royal Bank of Canada boosted its holdings in Digital Turbine by 1.2% during the 3rd quarter. Royal Bank of Canada now owns 56,945 shares of the software maker’s stock valued at $820,000 after acquiring an additional 674 shares during the period. Acuitas Investments LLC grew its position in Digital Turbine by 1.3% in the 4th quarter. Acuitas Investments LLC now owns 55,138 shares of the software maker’s stock valued at $840,000 after acquiring an additional 684 shares in the last quarter. Finally, Cetera Investment Advisers increased its stake in Digital Turbine by 5.5% during the first quarter. Cetera Investment Advisers now owns 13,123 shares of the software maker’s stock worth $575,000 after purchasing an additional 687 shares during the period. 62.45% of the stock is owned by hedge funds and other institutional investors.

About Digital Turbine

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Digital Turbine, Inc engages in the innovation of media and mobile communications which help to deliver an end-to-end platform solution for mobile operators, application developers, device original equipment manufacturers (OEM), and other third parties. It operates through the Following Segments: On Device Media (ODM), In App Media-AdColony (IAM-A) and In App Media-Fyber (IAM-F).