Digital Turbine (NASDAQ:APPS) Rating Lowered to Underperform at Bank of America

Bank of America cut shares of Digital Turbine (NASDAQ:APPS) from a neutral rating to an underperform rating in a report issued on Friday morning, Marketbeat reports. The firm currently has $1.00 price objective on the software maker’s stock, down from their prior price objective of $3.50.

A number of other equities analysts have also issued reports on the company. Craig Hallum decreased their price objective on Digital Turbine from $5.00 to $4.00 and set a “buy” rating for the company in a report on Thursday, November 7th. Macquarie decreased their price target on Digital Turbine from $3.00 to $2.00 and set a “neutral” rating for the company in a research note on Thursday, November 7th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $2.38.

Digital Turbine Stock Down 4.6 %

Shares of Digital Turbine stock opened at $1.25 on Friday. Digital Turbine has a twelve month low of $1.22 and a twelve month high of $7.33. The stock has a market capitalization of $129.66 million, a price-to-earnings ratio of -0.42, a PEG ratio of 4.05 and a beta of 2.59. The business’s 50 day simple moving average is $2.84 and its 200-day simple moving average is $2.49. The company has a current ratio of 1.09, a quick ratio of 1.09 and a debt-to-equity ratio of 2.24.

Digital Turbine (NASDAQ:APPS) last issued its quarterly earnings data on Wednesday, November 6th. The software maker reported $0.05 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.06 by ($0.01). Digital Turbine had a positive return on equity of 3.32% and a negative net margin of 61.17%. The business had revenue of $118.70 million during the quarter, compared to the consensus estimate of $125.85 million. During the same period last year, the company earned $0.04 earnings per share. The business’s quarterly revenue was down 17.1% compared to the same quarter last year. Equities research analysts forecast that Digital Turbine will post 0.05 earnings per share for the current year.

Insider Activity at Digital Turbine

In related news, Director Robert M. Deutschman acquired 100,000 shares of the stock in a transaction dated Monday, November 11th. The shares were acquired at an average price of $1.41 per share, with a total value of $141,000.00. Following the acquisition, the director now owns 571,216 shares in the company, valued at approximately $805,414.56. The trade was a 21.22 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this link. 5.80% of the stock is owned by company insiders.

Institutional Trading of Digital Turbine

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in APPS. Jacobs Levy Equity Management Inc. bought a new stake in shares of Digital Turbine in the 1st quarter worth approximately $2,177,000. Janney Montgomery Scott LLC lifted its position in shares of Digital Turbine by 23.4% in the 1st quarter. Janney Montgomery Scott LLC now owns 177,849 shares of the software maker’s stock worth $466,000 after acquiring an additional 33,755 shares during the period. Acadian Asset Management LLC bought a new stake in shares of Digital Turbine in the 2nd quarter worth approximately $594,000. BNP Paribas Financial Markets lifted its position in shares of Digital Turbine by 192.8% in the 1st quarter. BNP Paribas Financial Markets now owns 290,070 shares of the software maker’s stock worth $760,000 after acquiring an additional 190,990 shares during the period. Finally, Assenagon Asset Management S.A. bought a new stake in shares of Digital Turbine in the 2nd quarter worth approximately $589,000. Institutional investors and hedge funds own 63.66% of the company’s stock.

Digital Turbine Company Profile

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.