Digital Turbine (APPS) Cut to “Sell” at Zacks Investment Research

Zacks Investment Research downgraded shares of Digital Turbine (NASDAQ:APPS) from a hold rating to a sell rating in a research report released on Monday 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. “

A number of other equities research analysts have also recently issued reports on the company. B. Riley reiterated a buy rating and set a $2.00 price objective (up previously from $1.40) on shares of Digital Turbine in a research note on Wednesday, November 8th. Roth Capital reiterated a buy rating on shares of Digital Turbine in a research note on Monday, December 4th. Finally, ValuEngine cut Digital Turbine from a hold rating to a sell rating in a research note on Tuesday, November 7th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and four have given a buy rating to the company’s stock. The company presently has a consensus rating of Buy and a consensus price target of $1.91.

Shares of Digital Turbine (NASDAQ APPS) opened at $2.45 on Monday. Digital Turbine has a 12 month low of $0.69 and a 12 month high of $2.51. The company has a current ratio of 0.84, a quick ratio of 0.84 and a debt-to-equity ratio of 0.20.

Several hedge funds have recently bought and sold shares of the stock. P.A.W. Capital Corp increased its holdings in shares of Digital Turbine by 5.0% during 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 last quarter. Perkins Capital Management Inc. increased its holdings in shares of Digital Turbine by 5.5% during the 3rd quarter. Perkins Capital Management Inc. now owns 911,080 shares of the software maker’s stock worth $1,376,000 after acquiring an additional 47,500 shares during the last quarter. Goldman Sachs Group Inc. increased its holdings in shares of Digital Turbine by 239.8% during the 4th quarter. Goldman Sachs Group Inc. now owns 69,500 shares of the software maker’s stock worth $124,000 after acquiring an additional 49,049 shares during the last quarter. White Pine Capital LLC increased its holdings in shares of Digital Turbine by 6.3% during the 4th quarter. White Pine Capital LLC now owns 1,051,025 shares of the software maker’s stock worth $1,881,000 after acquiring an additional 61,900 shares during the last quarter. Finally, Deutsche Bank AG increased its holdings in shares of Digital Turbine by 17.4% during the 4th quarter. Deutsche Bank AG now owns 447,591 shares of the software maker’s stock worth $801,000 after acquiring an additional 66,242 shares during the last quarter. 19.85% of the stock is currently owned by institutional investors and hedge funds.

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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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