Digital Turbine (APPS) Upgraded to “Hold” by Zacks Investment Research

Zacks Investment Research upgraded shares of Digital Turbine (NASDAQ:APPS) from a sell rating to a hold rating in a report published on Friday morning.

According to Zacks, “Digital Turbine Inc. offers products and solutions for mobile operators, device OEMs and third parties. The company’s product include DT Ignite(TM), a mobile device management solution with targeted app distribution capabilities, DT IQ(TM), a customized user experience and app discovery tool, DT Marketplace(TM), an application and content store and DT Pay(TM), a content management and mobile payment solution. It operates primarily in Berlin, Singapore and Sydney. Digital Turbine, Inc., formerly known as Mandalay Digital Group, Inc., is headquartered in Austin, Texas. “

APPS has been the subject of several other reports. ValuEngine lowered shares of Digital Turbine from a hold rating to a sell rating in a report on Tuesday, November 7th. B. Riley reissued a buy rating and set a $2.00 target price (up from $1.40) on shares of Digital Turbine in a research note on Wednesday, November 8th. One research analyst has rated the stock with a sell rating, one has given a hold rating and four have issued a buy rating to the company’s stock. The company presently has an average rating of Buy and a consensus target price of $1.55.

Digital Turbine (NASDAQ APPS) opened at $1.67 on Friday. Digital Turbine has a fifty-two week low of $0.59 and a fifty-two week high of $1.92. The company has a debt-to-equity ratio of 0.19, a quick ratio of 0.78 and a current ratio of 0.78.

Digital Turbine (NASDAQ:APPS) last posted its quarterly earnings results on Tuesday, November 7th. The software maker reported ($0.01) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.02) by $0.01. Digital Turbine had a negative net margin of 20.41% and a negative return on equity of 23.85%. The business had revenue of $27.90 million during the quarter, compared to analyst estimates of $26.96 million. During the same period in the previous year, the business posted ($0.11) EPS. The company’s quarterly revenue was up 22.4% on a year-over-year basis. equities research analysts expect that Digital Turbine will post -0.18 EPS for the current fiscal year.

In other news, CEO William Gordon Stone III bought 50,000 shares of Digital Turbine stock in a transaction on Monday, November 13th. The stock was purchased at an average cost of $1.56 per share, with a total value of $78,000.00. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Insiders own 4.80% of the company’s stock.

A number of institutional investors have recently bought and sold shares of APPS. Unterberg Capital LLC acquired a new position in Digital Turbine during the 2nd quarter valued at about $412,000. White Pine Capital LLC lifted its stake in shares of Digital Turbine by 23.2% in the 2nd quarter. White Pine Capital LLC now owns 725,375 shares of the software maker’s stock worth $747,000 after acquiring an additional 136,800 shares during the period. Trellus Management Company LLC lifted its stake in shares of Digital Turbine by 16.8% in the 3rd quarter. Trellus Management Company LLC now owns 700,689 shares of the software maker’s stock worth $1,058,000 after acquiring an additional 100,689 shares during the period. P.A.W. Capital Corp lifted its stake in shares of Digital Turbine by 5.0% in the 3rd quarter. P.A.W. Capital Corp now owns 840,000 shares of the software maker’s stock worth $1,268,000 after acquiring an additional 40,000 shares during the period. Finally, Essex Investment Management Co. LLC acquired a new stake in shares of Digital Turbine in the 3rd quarter worth approximately $665,000. 20.98% of the stock is owned by hedge funds and other institutional investors.

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About Digital Turbine

Digital Turbine, Inc is engaged in delivering end-to-end products and solutions for mobile operators, application advertisers, device original equipment manufacturers (OEMs) and other third parties to enable them to monetize mobile content. The Company operates its business in two operating segments: Advertising and Content.

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