Digital Turbine (APPS) Downgraded by Zacks Investment Research to Hold

Digital Turbine (NASDAQ:APPS) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research report issued on Thursday, January 11th.

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. “

Several other brokerages also recently commented on APPS. B. Riley reiterated a “buy” rating and set a $2.00 target price (up from $1.40) on shares of Digital Turbine in a report on Wednesday, November 8th. Roth Capital reiterated a “buy” rating on shares of Digital Turbine in a report on Monday, December 4th. Finally, ValuEngine lowered Digital Turbine from a “hold” rating to a “sell” rating in a research note on Tuesday, November 7th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and four have given a buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average target price of $1.85.

Shares of Digital Turbine (NASDAQ APPS) opened at $1.93 on Thursday. Digital Turbine has a 52 week low of $0.69 and a 52 week high of $2.25. The company has a market capitalization of $142.65, a price-to-earnings ratio of -6.47 and a beta of 1.52. 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 released its earnings results on Tuesday, November 7th. The software maker reported ($0.01) earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.02) by $0.01. The firm had revenue of $27.90 million for the quarter, compared to the consensus estimate of $26.96 million. Digital Turbine had a negative return on equity of 23.85% and a negative net margin of 20.41%. The firm’s revenue for the quarter was up 22.4% compared to the same quarter last year. During the same period in the prior year, the business posted ($0.11) earnings per share. research analysts expect that Digital Turbine will post -0.17 EPS for the current year.

In other Digital Turbine news, CEO William Gordon Stone III bought 50,000 shares of the business’s stock in a transaction on Monday, November 13th. The shares were purchased at an average price of $1.56 per share, with a total value of $78,000.00. The acquisition was disclosed in a legal filing with the SEC, which is available through this link. 5.80% of the stock is owned by insiders.

Several hedge funds and other institutional investors have recently modified their holdings of APPS. Unterberg Capital LLC grew its holdings in shares of Digital Turbine by 237.5% in the 3rd quarter. Unterberg Capital LLC now owns 1,350,000 shares of the software maker’s stock worth $2,039,000 after acquiring an additional 950,000 shares during the last quarter. Essex Investment Management Co. LLC acquired a new position in shares of Digital Turbine in the 3rd quarter worth $665,000. EAM Investors LLC acquired a new position in shares of Digital Turbine in the 3rd quarter worth $465,000. Granahan Investment Management Inc. MA acquired a new position in shares of Digital Turbine in the 3rd quarter worth $350,000. Finally, Trellus Management Company LLC grew its holdings 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 last quarter. Institutional investors and hedge funds own 20.66% of the company’s stock.

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Digital Turbine Company Profile

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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