Comerica Bank increased its stake in the shares of Digital Turbine, Inc. (NASDAQ: APPS – Get a rating) by 1.0% during the first quarter, Participation channel reports. The company held 61,503 shares of the software maker after buying an additional 590 shares during the period. Comerica Bank’s holdings in Digital Turbine were worth $2,205,000 when it last filed with the SEC.
Other hedge funds and other institutional investors also changed their stakes in the company. Oppenheimer & Co. Inc. increased its equity stake in Digital Turbine by 120.6% during the 4th quarter. Oppenheimer & Co. Inc. now owns 58,094 shares of the software maker valued at $3,543,000 after buying an additional 31,765 shares last quarter. State Street Corp increased its equity stake in Digital Turbine by 1.5% during the 4th quarter. State Street Corp now owns 2,807,074 shares of the software maker valued at $171,203,000 after buying an additional 41,504 shares last quarter. First Citizens Bank & Trust Co. bought a new position in Digital Turbine in Q1 worth $657,000. National Asset Management Inc. increased its stake in Digital Turbine by 8.5% in the fourth quarter. National Asset Management Inc. now owns 47,103 shares of the software maker worth $2,873,000 after acquiring 3,700 additional shares during the period. Finally, Gotham Asset Management LLC increased its stake in Digital Turbine by 46.1% in the 4th quarter. Gotham Asset Management LLC now owns 15,802 shares of the software maker worth $964,000 after acquiring 4,988 additional shares during the period. Institutional investors hold 63.38% of the company’s shares.
Digital Turbine Stock Performance
NASDAQ APPS opened at $19.50 on Friday. The company has a debt ratio of 1.01, a current ratio of 1.07 and a quick ratio of 1.07. The company has a market capitalization of $1.92 billion, a price/earnings ratio of 57.35, a P/E/G ratio of 0.52 and a beta of 2.47. The company’s fifty-day moving average is $19.61 and its two-hundred-day moving average is $33.61. Digital Turbine, Inc. has a 52 week low of $14.43 and a 52 week high of $93.98.
Digital Turbine (NASDAQ: APPS – Get a rating) last reported results on Tuesday, May 31. The software maker reported earnings per share of $0.35 for the quarter, beating the consensus estimate of $0.34 by $0.01. Digital Turbine achieved a net margin of 3.28% and a return on equity of 30.00%. The company posted revenue of $184.14 million for the quarter, versus analyst estimates of $336.45 million. During the same period of the previous year, the company achieved EPS of $0.24. The company’s revenue increased 93.7% year over year. Equity research analysts expect Digital Turbine, Inc. to post EPS of 1.53 for the current year.
Analysts set new price targets
Several research analysts have recently commented on APPS shares. B. Riley began covering Digital Turbine shares in a report on Tuesday, June 28. They issued a “buy” rating and a target price of $29.00 on the stock. Oppenheimer lowered his price target on Digital Turbine shares from $117.00 to $40.00 and set an “outperform” rating on the stock in a Wednesday, June 1 report. Macquarie lowered its price target on shares of Digital Turbine from $70.00 to $40.00 and set an “outperform” rating on the stock in a Wednesday, June 1 report. Craig Hallum lowered his price target on Digital Turbine shares from $105.00 to $85.00 in a Wednesday, June 1 report. To finish, StockNews.com began covering Digital Turbine shares in a research report on Thursday, March 31. They issued a “sell” rating on the stock. One equity research analyst gave the stock a sell rating and five gave the company’s stock a buy rating. Based on MarketBeat data, Digital Turbine currently has an average rating of “Moderate Buy” and a consensus price target of $71.00.
Digital turbine profile
Digital Turbine, Inc, through its subsidiaries, operates a mobile growth platform for advertisers, publishers, carriers and original equipment manufacturers (OEMs). The Company operates through three segments: On Device Media, In App Media – AdColony and In App Media – Fyber. Its application media platform provides mobile applications to various publishers, operators, equipment manufacturers and devices; and the content media platform offers news, weather, sports and other content, as well as programmatic advertising and sponsored and editorial content media.
Get news and reviews for Digital Turbine Daily – Enter your email address below to receive a concise daily summary of breaking news and analyst ratings for Digital Turbine and related companies with MarketBeat.com’s free daily email newsletter.