Digital Turbine Inc (NASDAQ:APPS) shares shot up 8.7% during trading on Tuesday . The stock traded as high as $4.37 and last traded at $4.27, 2,084,644 shares traded hands during trading. A decline of 18% from the average session volume of 2,541,323 shares. The stock had previously closed at $3.93.

Several brokerages have commented on APPS. Canaccord Genuity lifted their target price on Digital Turbine from $8.00 to $12.00 and gave the stock a “buy” rating in a report on Wednesday, March 4th. Zacks Investment Research raised Digital Turbine from a “hold” rating to a “buy” rating and set a $8.00 price objective for the company in a research report on Friday, March 6th. National Securities initiated coverage on Digital Turbine in a research report on Tuesday, December 17th. They issued a “buy” rating and a $11.00 price objective for the company. B. Riley lowered their price objective on Digital Turbine from $10.00 to $7.00 and set a “buy” rating for the company in a research report on Monday. Finally, ValuEngine lowered Digital Turbine from a “hold” rating to a “sell” rating in a research report on Friday, March 13th. Two equities research analysts have rated the stock with a sell rating and seven have assigned a buy rating to the stock. The company has an average rating of “Buy” and an average price target of $8.30.

The company has a 50-day moving average price of $5.86 and a two-hundred day moving average price of $6.92. The stock has a market capitalization of $340.89 million, a P/E ratio of -48.44 and a beta of 1.46.

Digital Turbine (NASDAQ:APPS) last issued its earnings results on Monday, February 10th. The software maker reported $0.04 EPS for the quarter, missing analysts’ consensus estimates of $0.05 by ($0.01). Digital Turbine had a negative net margin of 5.35% and a positive return on equity of 28.03%. The firm had revenue of $36.02 million during the quarter, compared to the consensus estimate of $37.58 million. Equities research analysts expect that Digital Turbine Inc will post 0.17 earnings per share for the current year.

In related news, CEO William Gordon Stone III purchased 12,500 shares of the business’s stock in a transaction on Thursday, February 13th. The stock was acquired at an average price of $7.02 per share, for a total transaction of $87,750.00. Also, CTO Christine Collins sold 20,000 shares of Digital Turbine stock in a transaction dated Thursday, February 20th. The shares were sold at an average price of $6.91, for a total value of $138,200.00. Following the transaction, the chief technology officer now owns 20,000 shares of the company’s stock, valued at approximately $138,200. The disclosure for this sale can be found here. Insiders purchased a total of 69,500 shares of company stock valued at $443,885 over the last ninety days. 5.80% of the stock is currently owned by corporate insiders.

Hedge funds have recently added to or reduced their stakes in the business. Man Group plc acquired a new position in Digital Turbine during the 3rd quarter valued at about $543,000. State Street Corp boosted its stake in shares of Digital Turbine by 30.9% in the 3rd quarter. State Street Corp now owns 1,724,788 shares of the software maker’s stock worth $11,116,000 after buying an additional 406,840 shares during the last quarter. California Public Employees Retirement System boosted its stake in shares of Digital Turbine by 5.6% in the 3rd quarter. California Public Employees Retirement System now owns 169,487 shares of the software maker’s stock worth $1,092,000 after buying an additional 9,054 shares during the last quarter. Hennessy Advisors Inc. purchased a new position in shares of Digital Turbine in the 4th quarter worth approximately $76,000. Finally, California State Teachers Retirement System boosted its stake in shares of Digital Turbine by 2.6% in the 3rd quarter. California State Teachers Retirement System now owns 122,274 shares of the software maker’s stock worth $788,000 after buying an additional 3,138 shares during the last quarter. Institutional investors and hedge funds own 48.55% of the company’s stock.

About Digital Turbine (NASDAQ:APPS)

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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