According to information from The Fly, research released Monday by analysts working for Bank of America indicated that they would begin hedging on shares of Digital Turbine (NASDAQ: APPS). The company has assigned a “buy” rating to the software provider’s shares and has set a price target of $24.00 for those shares. However, the most recent price the stock traded at before the close was 84.05% below the target price set by Bank of America.
APPS have also been investigated in various other studies as a research focus. On October 12, StockNews.com released a Digital Turbine Stock Research Report; this publication marked the start of the website’s coverage of the company’s stock. They recommended that shareholders “keep” their shares in the company. B. Riley reduced his price target on Digital Turbine from $33.00 to $28.00 in a research report published on Wednesday, October 5. Additionally, a “buy” recommendation was made for the company’s stock. The price target he and Craig Hallum set for Digital Turbine has been reduced to $600.00, as noted in a research note published on August 15. In research published on Tuesday, October 4, Oppenheimer lowered its target price for Digital Turbine from $32.00 to $19.00. . This was the latest and most important economic news. Despite this change, they maintained an “outperforming” rating on overall company performance. There are currently five analysts who have assigned a buy rating to the stock, while only one has assigned a hold rating to the stock. Information from Bloomberg.com indicates that the company’s current price target is $45.17 and the average recommendation for the stock is “buy moderately”.
Monday trading on the NASDAQ APPS market for $13.04 per share. Over the past year, the price of digital turbines has ranged from an all-time high of $12.19 to an all-time low of $93.98. The debt-to-equity ratio is 0.82, while the current and quick ratios are 1.18. The debt ratio is the lowest of the three ratios. The company is currently valued at $1.29 billion, which can be attributed to several factors, including its PE ratio of 37.26, EPS growth rate of 1.12, and beta of 2.43. The moving average for the company over the past 50 days is $18.16 and the moving average over the past 200 days is $22.74.
On Monday, August 8, the latest results of Digital Turbine’s financial operations were made public. The company’s shares are listed on NASDAQ under the symbol APPS. The software company reported quarterly earnings of $0.32 per share, $0.01 higher than the average estimate of $0.31 per floating share. Additionally, the company’s sales in the quarter were significantly higher than analysts’ forecast of $184.68 million, coming in instead at $188.63 million. A satisfactory net margin of 3.42% and a return on equity of 29.78% are two indicators that demonstrate the good performance of Digital Turbine. As a result, many business professionals estimate that Digital Turbines will earn $1.17 per share in 2018.
Many of these entities have changed the way hedge funds and other institutional investors invest in a company in recent months. During the first three months of the year, Meeder Asset Management, Inc. invested in Digital Turbine for $31,000. During the second quarter, Lazard Asset Management LLC successfully acquired an additional 86.6% of Digital Turbine for its investment portfolio. Lazard Asset Management LLC now owns 2,110 shares in the software publisher. Each share has a market value of $36,000 and the company increased its holdings in the last quarter by purchasing an additional 979 shares. During the third quarter, Spence Asset Management invested $57,000 in Digital Turbine by purchasing an additional 57,000 shares for a total purchase price of $57,000. Quantbot Technologies LP invested approximately $58,000 in the first three months of 2018 to buy a new share of Digital Turbine. The Canada Pension Plan Investment Board (CPPIB) invested approximately $73,000 in the first three months of 2018 to increase its holdings of Digital Turbine shares as part of its portfolio diversification efforts. Institutional investors hold approximately 65.70% of the company’s total number of shares.
On behalf of its owned companies, Digital Turbine, Inc. operates a mobile growth platform for advertisers, publishers, carriers and original equipment manufacturers (OEMs). On Device Media, In-App Media-AdColony and In-App Media-Fyber are the three sub-divisions the company can be divided into. The company not only distributes mobile applications to publishers, carriers, original equipment manufacturers (OEMs) and devices on its content media platform, but also provides programmatic advertising, sponsored content and editorial content media. This information includes the latest news and updates on weather, sports, and other topics.
