Digital Turbine (NASDAQ:APPS) Rating Lowered to “Hold” at Zacks Research

Digital Turbine (NASDAQ:APPS) was downgraded by research analysts at Zacks Research from a “strong-buy” rating to a “hold” rating in a research report issued to clients and investors on Monday,Zacks.com reports.

Several other analysts also recently weighed in on the company. Benchmark initiated coverage on Digital Turbine in a report on Tuesday, July 21st. They issued a “buy” rating and a $15.00 price objective for the company. Bank of America upgraded shares of Digital Turbine from a “neutral” rating to a “buy” rating and set a $7.50 target price on the stock in a report on Wednesday, May 27th. Roth Capital assumed coverage on shares of Digital Turbine in a research report on Tuesday, July 21st. They set a “buy” rating and a $11.50 target price on the stock. Weiss Ratings lowered shares of Digital Turbine from a “sell (d-)” rating to a “sell (e+)” rating in a report on Friday, June 5th. Finally, Wall Street Zen raised shares of Digital Turbine from a “buy” rating to a “strong-buy” rating in a research report on Saturday, July 18th. One investment analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $11.00.

Digital Turbine Trading Down 1.5%

APPS opened at $8.46 on Monday. The company has a quick ratio of 1.16, a current ratio of 1.16 and a debt-to-equity ratio of 1.84. The stock’s fifty day moving average is $9.21 and its two-hundred day moving average is $5.84. The company has a market capitalization of $1.02 billion, a P/E ratio of -23.50, a PEG ratio of 0.67 and a beta of 2.75. Digital Turbine has a 52 week low of $2.74 and a 52 week high of $13.60.

Digital Turbine (NASDAQ:APPS) last issued its earnings results on Tuesday, May 26th. The software maker reported $0.16 earnings per share for the quarter, topping the consensus estimate of $0.09 by $0.07. Digital Turbine had a positive return on equity of 27.60% and a negative net margin of 6.68%.The business had revenue of $142.55 million during the quarter, compared to analysts’ expectations of $133.22 million. Analysts forecast that Digital Turbine will post 0.68 earnings per share for the current year.

Institutional Investors Weigh In On Digital Turbine

A number of hedge funds and other institutional investors have recently bought and sold shares of APPS. AIGH Capital Management LLC acquired a new stake in Digital Turbine in the first quarter valued at approximately $14,100,000. Invesco Ltd. increased its position in shares of Digital Turbine by 369.0% during the fourth quarter. Invesco Ltd. now owns 1,829,003 shares of the software maker’s stock worth $9,145,000 after purchasing an additional 1,438,986 shares in the last quarter. Manatuck Hill Partners LLC lifted its holdings in shares of Digital Turbine by 233.3% during the 4th quarter. Manatuck Hill Partners LLC now owns 2,000,000 shares of the software maker’s stock valued at $10,000,000 after purchasing an additional 1,400,000 shares during the last quarter. Dimensional Fund Advisors LP lifted its holdings in shares of Digital Turbine by 56.1% during the 1st quarter. Dimensional Fund Advisors LP now owns 2,353,594 shares of the software maker’s stock valued at $6,778,000 after purchasing an additional 846,116 shares during the last quarter. Finally, Granahan Investment Management LLC boosted its position in shares of Digital Turbine by 12.0% in the 1st quarter. Granahan Investment Management LLC now owns 7,112,351 shares of the software maker’s stock worth $20,484,000 after purchasing an additional 762,888 shares in the last quarter. Hedge funds and other institutional investors own 63.66% of the company’s stock.

Digital Turbine Company Profile

Digital Turbine, Inc (NASDAQ: APPS) is a mobile technology company that streamlines content delivery and app advertising across connected devices. Its platform enables carriers, OEMs, app developers and advertisers to engage users through personalized app recommendations, in-app promotions and turnkey monetization solutions. By integrating software directly on smartphones and tablets, Digital Turbine simplifies the user journey from discovery to installation without requiring additional downloads or redirects through traditional app stores.

The company’s flagship Ignite Platform offers end-to-end campaign management, combining demand-side advertising, real-time analytics and automated content fulfillment.