Digital Turbine (NASDAQ:APPS) Stock Rating Upgraded by StockNews.com

StockNews.com upgraded shares of Digital Turbine (NASDAQ:APPS) from a sell rating to a hold rating in a research report released on Wednesday.

Several other equities analysts also recently weighed in on APPS. 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 cut their price objective for the company from $3.50 to $1.00 in a report on Friday, November 15th. Finally, Macquarie lowered their target price on Digital Turbine from $3.00 to $2.00 and set a “neutral” rating on the stock in a report on Thursday, November 7th. One research analyst has rated the stock with a sell rating, three have given a hold rating and one has assigned a buy rating to the company’s stock. According to data from MarketBeat, Digital Turbine currently has an average rating of “Hold” and a consensus price target of $2.38.

Digital Turbine Trading Up 12.7 %

Shares of Digital Turbine stock opened at $6.14 on Wednesday. The business has a 50 day simple moving average of $2.26 and a two-hundred day simple moving average of $2.55. Digital Turbine has a 12 month low of $1.18 and a 12 month high of $6.40. The company has a debt-to-equity ratio of 2.50, a current ratio of 1.06 and a quick ratio of 1.09.

Digital Turbine (NASDAQ:APPS) last issued its quarterly 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%. As a group, equities research analysts anticipate that Digital Turbine will post -0.13 EPS for the current year.

Institutional Investors Weigh In On Digital Turbine

A number of hedge funds have recently modified their holdings of the company. JPMorgan Chase & Co. boosted its holdings in Digital Turbine by 719.6% in the 3rd quarter. JPMorgan Chase & Co. now owns 387,834 shares of the software maker’s stock valued at $1,191,000 after purchasing an additional 340,512 shares during the last quarter. Geode Capital Management LLC raised its position in shares of Digital Turbine by 8.4% during the 3rd quarter. Geode Capital Management LLC now owns 2,334,648 shares of the software maker’s stock valued at $7,169,000 after buying an additional 181,032 shares during the period. Barclays PLC lifted its holdings in Digital Turbine by 62.5% in the third quarter. Barclays PLC now owns 252,673 shares of the software maker’s stock valued at $776,000 after acquiring an additional 97,196 shares during the last quarter. SG Americas Securities LLC grew its position in Digital Turbine by 80.9% in the third quarter. SG Americas Securities LLC now owns 50,053 shares of the software maker’s stock worth $154,000 after acquiring an additional 22,385 shares during the period. Finally, Franklin Resources Inc. acquired a new stake in Digital Turbine during the third quarter worth $185,000. Hedge funds and other institutional investors own 63.66% of the company’s stock.

About Digital Turbine

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.